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<p>Gambling can enhance utility for some people but may reduce it when it leads to financial hardship and relationship problems. We hypothesize that, in the case of moderate-risk and problem gambling, the negative effects outweigh any potential benefits, resulting in an overall negative relationship with subjective well-being. Using nationally representative longitudinal data from Australia, we find evidence consistent with this hypothesis. Moderate-risk and problem gambling is associated with lower levels of subjective well-being. This result holds across a range of sensitivity checks, including tests for omitted variable bias, heteroskedasticity-based identification, and propensity score matching. Our findings underscore the importance of strategies that help reduce problematic gambling behavior and limit its potential harms.</p>

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Gambling Behavior and Subjective Well-Being

  • 期刊论文

  • 发表日期：

    2025年12月1日

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  • Dusanee Kesavayuth,
  • Prompong Shangkhum,
  • Vasileios Zikos

摘要

Gambling can enhance utility for some people but may reduce it when it leads to financial hardship and relationship problems. We hypothesize that, in the case of moderate-risk and problem gambling, the negative effects outweigh any potential benefits, resulting in an overall negative relationship with subjective well-being. Using nationally representative longitudinal data from Australia, we find evidence consistent with this hypothesis. Moderate-risk and problem gambling is associated with lower levels of subjective well-being. This result holds across a range of sensitivity checks, including tests for omitted variable bias, heteroskedasticity-based identification, and propensity score matching. Our findings underscore the importance of strategies that help reduce problematic gambling behavior and limit its potential harms.