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By amerten, Hopedale, MA. What are its effects on society? These troubles can leave a family feeling frustrated and even worse if the gamblers are fighting over money. In England last year a bookmaking firm called William Hill of London offered bets on effedts end of the world. In England last year a bookmaking firm called William Hill of London offered bets on the end of the world.Effects Of Gambling Term paper. While the free essays can give you inspiration for writing, they cannot be used 'as is' because they will not meet your assignment's requirements. Home > Gambling > The Effects of Gambling. How did this happen? I cant believe all the trouble I'm in. If I stop gambling now, Ill have to admit I'm a total loser. There are many consequences of gambling addictions that result in economic costs. When a person is a compulsive gambler or an addict, the effects are devastating immediately.