Economic Effects

Studies have shown that more than $5 billion has been lost each year to gambling addictions. In addition, $40 billion has been spent on social services and creditor losses. These studies go on to state that two out of three gambling addicts will engage in illegal acts to pay for their gambling debts. The effect is that the addiction places a severe hardship on prison systems, public assistance programs and legal systems. There are many consequences of gambling addictions that result in economic costs. 

Social Effects

Family members suffer physical and psychological abuse. More than 85 percent of families with a gambling addict have reported receiving threats from creditors and bill collectors.

There is also an increased rate of divorce. In the United States, 65 percent of couples that consist of one spouse with a gambling addiction, end up divorced. There is also an extreme amount of stress placed on the family to repay debts and bills that the addict has accumulated as a result of gambling. Research has shown that three out of five gambling addicts have a family with children.

Compulsive Gambling

When a person is a compulsive gambler or an addict, the effects are devastating immediately. A large number of addicts will use credit cards and debit cards to pay for their addiction or internet gambling addiction. The result places them in debt to the point of losing homes, jobs, vehicles and even their families.

There are many ways in which a gambling addiction can have an effect on people.

• Family problems are very common. Almost 90 percent of gambling addicts around the world have issues at home with their family because of their addiction.
• Financial devastation is unavoidable. People with a gambling addiction will go to extreme measures to get money to gamble. More than one-third of people with this addiction have stolen to support it.
• Job loss is very high among gambling addicts. These people tend to miss many days at work, causing problems and loss of jobs. Gambling addictions will interfere with work relations. Only 20 percent of gambling addicts are able to maintain their jobs as well as their addiction.