Economic Costs of Gambling - page 12.

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Quote from: stadus on June 12, 2021, 09:55:54 AM

Quote from: Smartprofit on June 12, 2021, 08:58:48 AM

Quote from: johhnyUA on June 11, 2021, 05:40:43 PM

Quote from: BTCLiz on June 05, 2021, 09:07:00 AM

1. Gambling in fact has many negative externalities. If someone gets addicted, the likelihood is much higher to be depressed. Depression is factor, which leads to high costs for the society.

2. Gambling addiction leads to economic costs because of crime actions. Other market actors have to increase their security standards, which means higher costs.

3. Many gambling addicts go as a consequence to jail. Jail means EXTREMELY high costs to society.

What are your thoughts on this topic?

We need a balance in everything in our life. The same thing with gambling: If we don't have it at all, people will not have a place to get some entertainment and chill, so they will try to compensate it in some other activity, and there is no guarantee that this activity will be constructive for society. But if we have too much gambling, it's benefits will be buried under a lot of criminal activity and too many people will become mad about their losses.

So we need here a balance.

Gambling is becoming popular because people have no global purpose in life.

In the 19th century, people believed in endless scientific and technological progress. However, the First World War showed that technological progress can serve not only the cause of good, but also of evil.

In the 20th century, people have a new global goal - space exploration. However, by the beginning of the 20th century, space exploration projects were curtailed.

Instead, the Internet and the virtual space began to develop. However, the internet is just chatter. People are disappointed.

Therefore, they began to actively seek excitement and drive in gambling.

That's nice trivia, my friend, life is boring actually without gambling because there's no competition and we are not taking risks. Actually, if we think of the positive things, we will be able to appreciate gambling as it really provides entertainment, it also makes people matured and responsible as they will learn to manage the risk.

Gambling helps me to take risk, and with that it help me to become a successful businessman.

I'm not hook so much on gambling so I actually don't find life without gambling is so boring, maube you should check yourself since this could end up on addiction. We really know how dangerous the addiction is so before everything will be at mess better change yourselfand your outlook in life since there are actually not good to be addicted so stay focus if you are playing and don't care about the winnings and losing

Cherylstar86

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My thoughts on those points that leads a person towards commiting crime isn't that purely accountable towards economic conflict. It's by individual liability and couldn't be associated with government's interest, so as a citizen of a specific county we should be vigilant on those factors that leads gambling to several negative outcomes.

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Quote from: Hypnosis00 on June 12, 2021, 08:16:27 AM

Most Muslim countries do not allow gambling, but they still survive. The thing is, if one country will regulate gambling and the money is still coming from their people, then in the end the capitalist will benefit as they do pay taxes but they are getting money from the people.

If you notice, there are countries that allows gambling operators but don't allow their citizens to gamble, that's the way to help the economy.

Even now, Muslim countries still prohibit gambling because it is against their teachings and of course the government is strengthening now in some countries, indeed gambling can damage many things, not always depending on the casino economy for its government.
But for me the advantages of casinos are not much when compared to others, let's just look at the taxes that we know every year that we have to pay it is indeed the ideal state income so gambling is just a business for big people who can play it.

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Quote from: Smartprofit on June 12, 2021, 08:58:48 AM

Quote from: johhnyUA on June 11, 2021, 05:40:43 PM

Quote from: BTCLiz on June 05, 2021, 09:07:00 AM

1. Gambling in fact has many negative externalities. If someone gets addicted, the likelihood is much higher to be depressed. Depression is factor, which leads to high costs for the society.

2. Gambling addiction leads to economic costs because of crime actions. Other market actors have to increase their security standards, which means higher costs.

3. Many gambling addicts go as a consequence to jail. Jail means EXTREMELY high costs to society.

What are your thoughts on this topic?

We need a balance in everything in our life. The same thing with gambling: If we don't have it at all, people will not have a place to get some entertainment and chill, so they will try to compensate it in some other activity, and there is no guarantee that this activity will be constructive for society. But if we have too much gambling, it's benefits will be buried under a lot of criminal activity and too many people will become mad about their losses.

So we need here a balance.

Gambling is becoming popular because people have no global purpose in life.

In the 19th century, people believed in endless scientific and technological progress. However, the First World War showed that technological progress can serve not only the cause of good, but also of evil.

In the 20th century, people have a new global goal - space exploration. However, by the beginning of the 20th century, space exploration projects were curtailed.

Instead, the Internet and the virtual space began to develop. However, the internet is just chatter. People are disappointed.

Therefore, they began to actively seek excitement and drive in gambling.

That's nice trivia, my friend, life is boring actually without gambling because there's no competition and we are not taking risks. Actually, if we think of the positive things, we will be able to appreciate gambling as it really provides entertainment, it also makes people matured and responsible as they will learn to manage the risk.

Gambling helps me to take risk, and with that it help me to become a successful businessman.

Smartprofit

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Quote from: johhnyUA on June 11, 2021, 05:40:43 PM

Quote from: BTCLiz on June 05, 2021, 09:07:00 AM

1. Gambling in fact has many negative externalities. If someone gets addicted, the likelihood is much higher to be depressed. Depression is factor, which leads to high costs for the society.

2. Gambling addiction leads to economic costs because of crime actions. Other market actors have to increase their security standards, which means higher costs.

3. Many gambling addicts go as a consequence to jail. Jail means EXTREMELY high costs to society.

What are your thoughts on this topic?

We need a balance in everything in our life. The same thing with gambling: If we don't have it at all, people will not have a place to get some entertainment and chill, so they will try to compensate it in some other activity, and there is no guarantee that this activity will be constructive for society. But if we have too much gambling, it's benefits will be buried under a lot of criminal activity and too many people will become mad about their losses.

So we need here a balance.

Gambling is becoming popular because people have no global purpose in life.

In the 19th century, people believed in endless scientific and technological progress. However, the First World War showed that technological progress can serve not only the cause of good, but also of evil.

In the 20th century, people have a new global goal - space exploration. However, by the beginning of the 20th century, space exploration projects were curtailed.

Instead, the Internet and the virtual space began to develop. However, the internet is just chatter. People are disappointed.

Therefore, they began to actively seek excitement and drive in gambling.

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Quote from: Hypnosis00 on June 12, 2021, 08:16:27 AM

Most Muslim countries do not allow gambling, but they still survive.

funny on how they don't regulate gambling on theur country or community but on business they are hard as shit, over rated and not fair (maybe just here on my country,so I'll just leave it to some)
Here most of them are shits, believe me, when you visit some slums here that has those people you'll know. Well I think this is considered to be on 'some' that allows gambling.

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Quote from: Mahanton on June 11, 2021, 07:30:56 PM

Quote from: FatFork on June 11, 2021, 06:10:56 PM

Quote from: ?? on ??

The government's reason for agreeing on gambling casinos to operate outweighs the economic disadvantages that you've mentions, gambling casinos are employing a lot of people and giving business to small business that caters to casinos needs and of course the huge taxes these gambling casinos are giving out, they can only give warnings to people who are compulsive gambling but they cannot stop these people from playing within their means

Some governments have opened a Pandora's Box with these gambling casinos, they can't close it again and expect to survive because it's heavily relying on its income from the casino and the results aren't good. So the government may have the mindset to kill it off and if that is the case, then good luck to them. The problem is that these countries can't do without its casinos and the jobs they produce.

Depends on a certain country because there are countries which can really survive out without the help of those revenue generated by Casinos which if they do tend to banned it then theres nothing we can do about but generally most of government do really rely with gambling business taxes knowing that it can really generate more than on any business in the country and despite of this pandemic situation there are still people who would tend to play despite of the situation. Some would be opening it and some would be still deciding to ban or prohibit it,.

Most Muslim countries do not allow gambling, but they still survive. The thing is, if one country will regulate gambling and the money is still coming from their people, then in the end the capitalist will benefit as they do pay taxes but they are getting money from the people.

If you notice, there are countries that allows gambling operators but don't allow their citizens to gamble, that's the way to help the economy.

Mahanton

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Quote from: FatFork on June 11, 2021, 06:10:56 PM

Quote from: ?? on ??

The government's reason for agreeing on gambling casinos to operate outweighs the economic disadvantages that you've mentions, gambling casinos are employing a lot of people and giving business to small business that caters to casinos needs and of course the huge taxes these gambling casinos are giving out, they can only give warnings to people who are compulsive gambling but they cannot stop these people from playing within their means

Some governments have opened a Pandora's Box with these gambling casinos, they can't close it again and expect to survive because it's heavily relying on its income from the casino and the results aren't good. So the government may have the mindset to kill it off and if that is the case, then good luck to them. The problem is that these countries can't do without its casinos and the jobs they produce.

Depends on a certain country because there are countries which can really survive out without the help of those revenue generated by Casinos which if they do tend to banned it then theres nothing we can do about but generally most of government do really rely with gambling business taxes knowing that it can really generate more than on any business in the country and despite of this pandemic situation there are still people who would tend to play despite of the situation. Some would be opening it and some would be still deciding to ban or prohibit it,.

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Quote from: ReiMomo on June 10, 2021, 05:07:43 PM

Quote from: Oshosondy on June 09, 2021, 10:50:28 PM

Quote from: pilosopotasyo on June 09, 2021, 07:41:39 PM

Not only the casinos but the government as well, they are the ones giving license and regulate the casinos and some of them are also operating a lottery and gambling casinos, both of them do not think the welfare of gamblers and instead just focus on how to make revenues, they are good partners victimizing people who have no control in gambling, they both share the blame.

That is true, the governments do not focus on the welfare of gamblers, but what do you want the government to do? Should they turn to a gambler advisors? Which is not possible. Gamblers should know how risky gambling is, they should be contented and not gamble with an amount of money that can get them into problem. Also gambling is not allowed in some countries because of the negative effective which is addiction, but yet you will see people in such control trying all means to by-paes the law and gamble both offline and online.

Because they only see the negative side of gambling, in fact, gambling had contributed a lot during when the economy was down and gambling was legally paying tax to the government. And you have a point, gamblers should know that how risky to play gambling, and most of the time gamblers gamble just for the fun not chasing money. Others also gamble on what they can afford to lose.

I don't see any reason that gambling is an economic cost.

In what way will you consider the drug consumption/addiction. My personal opinion it is an economy destruction source. From the government's view it is different, because it brings in money. From common man's view it is a destruction, because it is consumed by him and ruins his health. Further he gets treatment, here who is benefitting. The drug addict is suffering and government is benefitting. One thing the addict alone isn't suffering, he makes his entire family suffer. Same as this is gambling when things go beyond the ability as my spending. I had shared my story on Be a Responsible Gambler

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Quote from: ?? on ??

The government's reason for agreeing on gambling casinos to operate outweighs the economic disadvantages that you've mentions, gambling casinos are employing a lot of people and giving business to small business that caters to casinos needs and of course the huge taxes these gambling casinos are giving out, they can only give warnings to people who are compulsive gambling but they cannot stop these people from playing within their means

Some governments have opened a Pandora's Box with these gambling casinos, they can't close it again and expect to survive because it's heavily relying on its income from the casino and the results aren't good. So the government may have the mindset to kill it off and if that is the case, then good luck to them. The problem is that these countries can't do without its casinos and the jobs they produce.

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Quote from: BTCLiz on June 05, 2021, 09:07:00 AM

1. Gambling in fact has many negative externalities. If someone gets addicted, the likelihood is much higher to be depressed. Depression is factor, which leads to high costs for the society.

2. Gambling addiction leads to economic costs because of crime actions. Other market actors have to increase their security standards, which means higher costs.

3. Many gambling addicts go as a consequence to jail. Jail means EXTREMELY high costs to society.

What are your thoughts on this topic?

We need a balance in everything in our life. The same thing with gambling: If we don't have it at all, people will not have a place to get some entertainment and chill, so they will try to compensate it in some other activity, and there is no guarantee that this activity will be constructive for society. But if we have too much gambling, it's benefits will be buried under a lot of criminal activity and too many people will become mad about their losses.

So we need here a balance.

DoublerHunter

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Quote from: BTCLiz on June 05, 2021, 09:07:00 AM

1. Gambling in fact has many negative externalities. If someone gets addicted, the likelihood is much higher to be depressed. Depression is factor, which leads to high costs for the society.

2. Gambling addiction leads to economic costs because of crime actions. Other market actors have to increase their security standards, which means higher costs.

3. Many gambling addicts go as a consequence to jail. Jail means EXTREMELY high costs to society.

What are your thoughts on this topic?

The government's reason for agreeing on gambling casinos to operate outweighs the economic disadvantages that you've mentions, gambling casinos are employing a lot of people and giving business to small business that caters to casinos needs and of course the huge taxes these gambling casinos are giving out, they can only give warnings to people who are compulsive gambling but they cannot stop these people from playing within their means

^ But at least the gambling business has contributed a lot to the economic finance like economic growth. Through taxes, governments were earned profits from many gambling businesses. And regarding gambler's addiction, the only way that will help them is themselves. I heard gambling companies that did not accept gamblers once they had already an addiction, I don't know if this applies in the online gambling business. Nevertheless, gambling was still there even though there was a criticism of this, there is advantage and disadvantage that we probably consider.

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Quote from: passwordnow on June 10, 2021, 04:38:13 PM

Quote from: ethereumhunter on June 08, 2021, 10:28:32 PM

Quote from: passwordnow on June 08, 2021, 12:48:43 PM

The competition has already started when they've entered in the gambling scene. And that's also the start that they are about to add and contribute to the economy because they're going to make money from their gamblers. But if they've failed to make their business became popular as the other casinos then they have to strategized how they're going to maintain their operations and at the same time get as much as customers as they can for which it will fall for a good marketing team.

They will use many media promotions to attract attention from people out there, including the gamblers who still search for where they can playing gambling. The important thing here how they can invite the gambler and what type of promotion. The gambler needs to search for the right gambling site to play any game he wants and not all gambling sites can satisfy them. Maybe the gambler will search for the casino to give them a big welcome bonus than the other site.

I've seen several newly made casinos that don't even have a budget for their promotions. But as you said, they're going to use campaigns and promotions for their visibility for their customers and that's a usual marketing strategy.
They can do that as a tactic to cater and attract gamblers and let them know that there's a new casino that people should try out. It also lies on the marketing strategist if it's going to click or not.

If they want to use campaigns, they need to calculate and allocate the money because the promotions will need big money to start. The casino needs to use many strategies in promoting its site. Otherwise, they will have a chance to compete with the other casino because the other casino will have a better media promotion to spread their name out there. The more gambler who will visit their site means they will have a chance to profit from the gambler.

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Quote from: Fredomago on June 10, 2021, 02:56:18 PM

Gamblers should know that and take full responsibilities, the government may bring some rules to avoid addictions but gamblers are the one that really responsible in controlling their actions each time they are inside the gambling house,

though most of the time, the government are more focus in taking profits out of gambling and not really caring for the welfare of their citizen, as long as the business are producing taxes,

They'll allow the business to facilitate and continue either online or offline shores.

What I see to this is that gambling sites will indicate that no one less than 18 should use their service, only 18 and above can gamble using gambling platforms, 18 year is old enough to know the rights and wrongs. But gambling can be addictive, that is where the problem comes in, but the gambling sites do have a page that address the issue of addiction, I also remembered when I once used bet365, there were many restrictions to gambling in a way not to lose much, but I did everything possible to by-pass it all in order to make us of large amount of money, I was an addict and I lost so much money.

What I noticed is that in countries gambling is not restricted or banned, the governments will only go for profits, it is individual and communities that should focus on how people can become not addited to it, and how addicts can become not addicted again to gambling. Even if people are blaming governments that they have nothing to offer to protect gamblers, yet governments will not be concerned.

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Quote from: Oshosondy on June 09, 2021, 10:50:28 PM

Quote from: pilosopotasyo on June 09, 2021, 07:41:39 PM

Not only the casinos but the government as well, they are the ones giving license and regulate the casinos and some of them are also operating a lottery and gambling casinos, both of them do not think the welfare of gamblers and instead just focus on how to make revenues, they are good partners victimizing people who have no control in gambling, they both share the blame.

That is true, the governments do not focus on the welfare of gamblers, but what do you want the government to do? Should they turn to a gambler advisors? Which is not possible. Gamblers should know how risky gambling is, they should be contented and not gamble with an amount of money that can get them into problem. Also gambling is not allowed in some countries because of the negative effective which is addiction, but yet you will see people in such control trying all means to by-paes the law and gamble both offline and online.

Because they only see the negative side of gambling, in fact, gambling had contributed a lot during when the economy was down and gambling was legally paying tax to the government. And you have a point, gamblers should know that how risky to play gambling, and most of the time gamblers gamble just for the fun not chasing money. Others also gamble on what they can afford to lose.

I don't see any reason that gambling is an economic cost.

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Quote from: ethereumhunter on June 08, 2021, 10:28:32 PM

Quote from: passwordnow on June 08, 2021, 12:48:43 PM

The competition has already started when they've entered in the gambling scene. And that's also the start that they are about to add and contribute to the economy because they're going to make money from their gamblers. But if they've failed to make their business became popular as the other casinos then they have to strategized how they're going to maintain their operations and at the same time get as much as customers as they can for which it will fall for a good marketing team.

They will use many media promotions to attract attention from people out there, including the gamblers who still search for where they can playing gambling. The important thing here how they can invite the gambler and what type of promotion. The gambler needs to search for the right gambling site to play any game he wants and not all gambling sites can satisfy them. Maybe the gambler will search for the casino to give them a big welcome bonus than the other site.

I've seen several newly made casinos that don't even have a budget for their promotions. But as you said, they're going to use campaigns and promotions for their visibility for their customers and that's a usual marketing strategy.
They can do that as a tactic to cater and attract gamblers and let them know that there's a new casino that people should try out. It also lies on the marketing strategist if it's going to click or not.

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Bruhhh... In addition to the fact that this topic is strange, it still absolutely does not correspond to some standards of discussion - only a few parameters from the set have been selected. And all of them are negative, which makes me think about the objectivity of the author of the topic.
With this style of discussion, one counter-argument destroys the entire concept being promoted - it is enough to give an example of one successful gambler and the theses put forward become irrelevant.

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Quote from: pawanjain on June 10, 2021, 10:04:41 AM

Quote from: rodskee on June 10, 2021, 02:39:55 AM

Quote

The gambling casinos/websites earn a good amount of profits and hence have to pay more tax
The money received from tax is then again used for the welfare of the country.
But yeah, we can still debate with the fact that many casinos dont pay their taxes and many countries don't use the tax properly for the welfare of the country

The best question is , How much does the taxes helping the economy than the amount losses from the players?

That can never be found out because every country has their own rules and regulations and most of the countries have corrupt people everywhere.
Corruption can go to any extent which is why it's hard to know how much money is actually flowing into the welfare of the economy.
Unless these governments use blockchain system to publicize the taxations there will be no way to know the truth.

^ That is a good idea and I hope there are some countries who will adopt blockchain technology to have a public ledger about the tax. Every country has its own way how to tax gambling and how the percentage will be deducted as a tax, it could more than 10%-50% depend on which country you are in. Probably gambling industry has a lot of contributing to grow the economy and as I remember there are few countries that have received donations from online gambling casinos. Nevertheless, there are pros and cons in gambling and sometimes we can not deny the fact that there is an economic cost.

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Quote from: Oshosondy on June 09, 2021, 10:50:28 PM

Quote from: pilosopotasyo on June 09, 2021, 07:41:39 PM

Not only the casinos but the government as well, they are the ones giving license and regulate the casinos and some of them are also operating a lottery and gambling casinos, both of them do not think the welfare of gamblers and instead just focus on how to make revenues, they are good partners victimizing people who have no control in gambling, they both share the blame.

That is true, the governments do not focus on the welfare of gamblers, but what do you want the government to do? Should they turn to a gambler advisors? Which is not possible. Gamblers should know how risky gambling is, they should be contented and not gamble with an amount of money that can get them into problem. Also gambling is not allowed in some countries because of the negative effective which is addiction, but yet you will see people in such control trying all means to by-paes the law and gamble both offline and online.

Gamblers should know that and take full responsibilities, the government may bring some rules to avoid addictions but gamblers are the one that really responsible in controlling their actions each time they are inside the gambling house,

though most of the time, the government are more focus in taking profits out of gambling and not really caring for the welfare of their citizen, as long as the business are producing taxes,

They'll allow the business to facilitate and continue either online or offline shores.

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Quote from: BTCLiz on June 05, 2021, 09:07:00 AM

...

Gambling is where the money goes...

gambling owners, gambling tax recipients, gamblers and gambling addicts are the people who make the money move. the tax money from gambling is large, so the tax recipient is obliged to give rights to gambling addicts who are caught. so I think all parties must carry out their rights and obligations.

Topic: Economic Costs of Gambling - page 12. (Read 4124 times)