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Gambling is a popular pastime that has positive and negative impacts. These effects can be analyzed using a cost-benefit model that includes costs and benefits at the individual, interpersonal, and society/community levels. The model also distinguishes between monetary and non-monetary impacts. In the case of gambling, monetary impacts are usually seen as costs and benefits are often invisible or undervalued, particularly when focusing on the impact of problem gambling.

The cost-benefit model can be applied to a wide range of issues, including alcohol and gambling, and aims to identify the causes of costs and benefits in order to improve policy-making. This article explores the various costs and benefits of gambling and considers why different estimates of social costs have produced such divergent results.

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