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How much of a problem is problem gambling?

Author

Listed:
  • Rob Pryce
  • Ian Walker
  • Rhys Wheeler

Abstract

Problem gambling is conventionally defined by the score in a specific questionnaire exceeding some critical value and data suggests is that 0.7% of adults in the UK could be afflicted. However, the literature has not evaluated the size of the harm associated with such an affliction and this research evaluates the effect of problem gambling on self-reported well-being which, together with a corresponding effect of income on well-being, allows us to construct a money-metric of the (self) harm associated with being a problem gambler. Our estimates suggest that problem gambling imposes a very large reduction in individual well-being.

Suggested Citation

  • Rob Pryce & Ian Walker & Rhys Wheeler, 2017. "How much of a problem is problem gambling?," Working Papers 167235280, Lancaster University Management School, Economics Department.
    • Handle: RePEc:lan:wpaper:167235280
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    File URL: http://www.lancaster.ac.uk/media/lancaster-university/content-assets/documents/lums/economics/working-papers/LancasterWP2017_011.pdf
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    References listed on IDEAS

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    More about this item

    Keywords

    gambling; lotto; problem gambling; well-being;
    All these keywords.

    JEL classification:

    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

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