Online Gambling is a type of gambling where individuals wager virtual money, or tokens, on various casino games via the internet. It is a global phenomenon with an estimated market value of USD $3.4 trillion as of 2020 and continues to grow at a rapid pace through commercialization, digitalization, sponsorship, and marketing. Online Gambling is legal in some states of the United States, some provinces of Canada, and most countries in the European Union.
Despite the popularity of Online Gambling, it can have harmful effects on players and society as a whole. These harms include relationship breakdown, financial distress, stigma, income-generating crimes (theft, fraud), erosion of civil institutions via corruption and corporate political activity, and the use of gambling as a method to launder illegally obtained funds.
Research has shown that those who gamble online often have comorbid mental and physical health issues, such as mood disorders, substance abuse, and alcohol or drug addiction. They also tend to have lower levels of personal traits that promote healthy behaviors, such as conscientiousness and self-control. A 2023 study titled “Personality and problem gambling” published in Frontiers in Psychology found that those with higher neuroticism and low agreeableness are more likely to develop an addiction to online gambling.
In addition, those who are addicted to Online Gambling are often unable to control their spending. They may also spend increasing amounts of money in an attempt to experience a similar thrill as the first time, a process known as escalation. This cycle is a sign of gambling addiction and can lead to significant financial losses.
