Gambling is the placing of something of value on an event whose result will come only by chance, for example a coin toss or roulette spin. The gambler has a desire to win money and an understanding that there is a risk involved in doing so. The outcome of gambling can be positive or negative. Those with an addiction to gambling may require psychotherapy, which can help address the underlying causes of the disorder and promote healthy coping skills. Psychiatric treatment options include individual therapy, group therapy, family therapy and psychodynamic therapy, which examines unconscious processes that affect behavior.

The impact of gambling can be analyzed on three levels: personal, interpersonal and community/society. Personal impacts are those induced on a person by their gambling activity and typically involve themselves, friends and family. Interpersonal impacts influence and cause effects on others, such as financial issues, changes in work performance or job loss, and social stress. Lastly, community/society level impacts are those that influence or concern the general public, such as gambling revenues and other economic impacts (positive or negative), costs related to problem gambling and long-term impact.

The success of gambling as a source of economic development is dependent on the resolution of conflicts between competing perspectives on its role. It can be seen as an individual social pathology, a societal menace or a viable tool for growth, but it is clear that the industry cannot operate as a legitimate means of economic development without the active support of governments and civil society.