How Gambling Addiction Affects the Economy

Gambling addiction, or ludomania, significantly impacts the economy of both individuals and entire countries. The problem of gambling touches on many aspects: from financial losses and debts to social costs and crime. Let's explore how ludomania reflects on the economy and what economic summaries can be highlighted for 2024.

Personal Financial Losses

Individuals suffering from gambling addiction often lose significant amounts of money. This can lead to:

  • Loss of Savings: People addicted to gambling often deplete their savings, which affects the overall level of consumption and savings in society.
  • Debts: To cover their gambling habits, they take out loans, borrow money from friends and family, leading to debt traps and increased insolvency.

Social Costs

Gambling addiction creates additional social expenses, which may include:

  • Healthcare: Increased costs for treating individuals with addictions, including psychotherapy and rehabilitation.
  • Law Enforcement: Expenses related to combating gambling-related crimes, such as fraud and theft.

Harm to Businesses

There are also negative consequences for businesses:

  • Decreased Productivity: Employees suffering from ludomania may have difficulty concentrating, leading to reduced productivity and increased absenteeism.
  • Bankruptcy of Small Businesses: Due to the debts and financial difficulties of gambling addicts, small businesses may face challenges if their customers cannot pay for goods or services.

Economic Summaries for 2024

According to various studies and reports, in 2024, the damage from gambling addiction on a global scale continues to rise. Here are some statistical data:

  1. Global Losses from Gambling Addiction: It is estimated that in 2024, total financial losses from gambling could amount to about 400 billion USD worldwide. This includes both direct losses from gambling and related social costs.
  2. Expenses for Treatment and Rehabilitation: Costs for treating gambling addiction and related disorders have reached 25 billion USD globally. This includes expenses for psychotherapy, support groups, and specialized rehabilitation programs.
  3. Loss of Productivity: Due to decreased productivity associated with gambling addiction, countries' economies are expected to lose another 150 billion USD.
  4. Increase in Crime: Statistics show that in countries with high levels of gambling, there is an increase in crimes related to financial fraud and theft, which also creates additional economic burdens for law enforcement agencies.
  5. Youth Addiction: An increasing number of young people are falling into the trap of gambling addiction, which may lead to long-term economic consequences, including loss of potential income and increased social costs in the future.