In A World of Chance, Brenner, Brenner, and Brown look at this same question from a historic perspective, and (IIRC) conclude that gambling is about as damaging as alcohol, both for individuals and society. In other words, it should be legal (it gives the majority a relatively safe good time) but somewhat controlled (some cannot handle it and then it is very bad).
Do these more recent numbers corroborate that comparison to alcohol?
No, the effect size on bankruptcies is about 10x larger than expected. So while offline gambling may be comparable to alcohol, smartphone gambling is in a different category if we trust this research.
In A World of Chance, Brenner, Brenner, and Brown look at this same question from a historic perspective, and (IIRC) conclude that gambling is about as damaging as alcohol, both for individuals and society. In other words, it should be legal (it gives the majority a relatively safe good time) but somewhat controlled (some cannot handle it and then it is very bad).
Do these more recent numbers corroborate that comparison to alcohol?
No, the effect size on bankruptcies is about 10x larger than expected. So while offline gambling may be comparable to alcohol, smartphone gambling is in a different category if we trust this research.