Economic Costs of Gambling - page 2.

Oshosondy

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Quote from: LUCKMCFLY on August 17, 2021, 01:13:48 AM

1.- The gambling addict, who usually gambles as much of the time as possible, and does not mind risking a lot and losing it, in general these types of people tend to lose everything, and have many problems and pretend that nothing happens.

2.-The other type of player who usually goes to the casinos and watch them play, they play little, usually they are in the casinos to see and take advantage of the food and drinks (this in the traditional casinos) the case of the casinos online there are still them, I think they play very little but they like to be there, and that can also be treated as an addiction because they stop doing the normal activities of a common person.

The second one is not the characteristics of a gambling addict as I have not even seen anyone just present in casino for no reason, they all have fun while they are there until they lose money. If the person do not use high amount and just use little amount, he will be good. But gambling addicts are the ones that use high amount, lose, play more, borrow money to play and lose again and again, yet looking for other means to get money to play and causing depression, there is nothing more than addiction in this other case, but not because someone love to be there but not risking money.

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Quote from: xSkylarx on August 17, 2021, 09:34:08 PM

Quote from: fortunecrypto on August 17, 2021, 06:25:06 PM

As long as the adrenaline is focus in gambling I don't think there will be a cure, the excitement of playing in a gambling venue online or offline create an adrenaline rush and this is something that makes the gambler alive, the professional can cure by giving the gambler an alternative to focusing the energy, it could be anything like playing basketball or painting there are many things to redirect the energy.

Agreed, it's the same with carnival rides that give you an adrenaline rush and make you want to try again, as well as games that make you feel the rush and make you want to try again and again in the hopes of winning. The feeling of winning in gambling is unlike any other that I can describe, and it is extremely addictive, unlike playing games or any physical games. It makes you feel extremely happy and amazed in ways that no words can express, but it will make the gambler addicted to it.

That is the problem. Many times problem gamblers know that what they are doing is wrong, that they should stop, that they are losing more than they can. But it's not a question of rationality, it's an emotional question. For someone who has had serious problems with gambling the only solution is to quit completely, in the same way that for an alcoholic the solution is not to drink another drop. Never. A single beer usually leads to the above pattern of self-destruction and for a problem gambler who has recovered, a single gamble usually triggers disaster.

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Quote from: fortunecrypto on August 17, 2021, 06:25:06 PM

Quote from: Smartprofit on August 17, 2021, 02:46:27 PM

If a player plays daily, then he has a daily adrenaline rush into the circulatory system. This destroys the human body.

Therefore, daily gambling is harmful.

As long as the adrenaline is focus in gambling I don't think there will be a cure, the excitement of playing in a gambling venue online or offline create an adrenaline rush and this is something that makes the gambler alive, the professional can cure by giving the gambler an alternative to focusing the energy, it could be anything like playing basketball or painting there are many things to redirect the energy.

Agreed, it's the same with carnival rides that give you an adrenaline rush and make you want to try again, as well as games that make you feel the rush and make you want to try again and again in the hopes of winning. The feeling of winning in gambling is unlike any other that I can describe, and it is extremely addictive, unlike playing games or any physical games. It makes you feel extremely happy and amazed in ways that no words can express, but it will make the gambler addicted to it.

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Quote from: Smartprofit on August 17, 2021, 02:46:27 PM

If a player plays daily, then he has a daily adrenaline rush into the circulatory system. This destroys the human body.

Therefore, daily gambling is harmful.

As long as the adrenaline is focus in gambling I don't think there will be a cure, the excitement of playing in a gambling venue online or offline create an adrenaline rush and this is something that makes the gambler alive, the professional can cure by giving the gambler an alternative to focusing the energy, it could be anything like playing basketball or painting there are many things to redirect the energy.

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Quote from: KTChampions on August 17, 2021, 05:27:54 PM

Quote from: Sanitough on August 17, 2021, 04:39:11 PM

Quote from: KTChampions on August 17, 2021, 01:54:15 PM

Hmmm ... to be honest, I can't seriously take the idea that in a country with very tough tax laws, where you can easily be jailed for tax evasion, someone does something like that. I think the discussed figures are very close to reality, even if there are some inaccuracies. Of course, there is always a black market, but we are talking about legal business, so we can ignore it.

That's happening mostly in countries where regulators are corrupt, the company does not pay the right taxes and when they are audited and found out the tax deficiencies, they will just settle with the auditors and pay them to settle the problem between them, so the government will not make the right revenue here because it goes to the pockets of the corrupt tax regulators.

Sure. This is constantly happening in undeveloped countries - the most profitable sectors of the economy (where much intelligence is not needed) are controlled by corrupt officials and it is difficult to find real numbers there, since everything is hidden. But in this particular case, the conversation was about the United States, so such small (relatively) numbers surprised me. However, I tend to trust them because in the USA it is quite dangerous to joke with the law.

Tax evasion is a serious case, the USA is strictly implementing the law that's why they benefited from the taxes they will get from casinos, and they should be an example of other countries if they want to fully maximize the revenue of taxes, it actually starts with the strict implementation of the law, this corrupt officials, however, are not afraid of the law because they know they can also pay people to keep them doing their corrupt business. What's worse is if everyone is coordinated in making corrupt practices, so it will result in a country going down and the poor will struggle more.

When we say corruption, it does not happen in a certain industry only, it could happen to all so the effect is really huge.

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Quote from: Sanitough on August 17, 2021, 04:39:11 PM

Quote from: KTChampions on August 17, 2021, 01:54:15 PM

Hmmm ... to be honest, I can't seriously take the idea that in a country with very tough tax laws, where you can easily be jailed for tax evasion, someone does something like that. I think the discussed figures are very close to reality, even if there are some inaccuracies. Of course, there is always a black market, but we are talking about legal business, so we can ignore it.

That's happening mostly in countries where regulators are corrupt, the company does not pay the right taxes and when they are audited and found out the tax deficiencies, they will just settle with the auditors and pay them to settle the problem between them, so the government will not make the right revenue here because it goes to the pockets of the corrupt tax regulators.

Sure. This is constantly happening in undeveloped countries - the most profitable sectors of the economy (where much intelligence is not needed) are controlled by corrupt officials and it is difficult to find real numbers there, since everything is hidden. But in this particular case, the conversation was about the United States, so such small (relatively) numbers surprised me. However, I tend to trust them because in the USA it is quite dangerous to joke with the law.

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Quote from: dunfida on August 17, 2021, 04:47:20 PM

Quote from: Sanitough on August 17, 2021, 04:39:11 PM

Quote from: KTChampions on August 17, 2021, 01:54:15 PM

Quote from: stadus on August 16, 2021, 05:33:10 PM

Quote from: KTChampions on August 15, 2021, 09:52:48 AM

An interesting article, thank you, it's a pity that there is no information on the profitability of this business or, roughly speaking, about the total turnover of money. In fact, the figure of 44 billion looks suspicious to me, while individual firms began to exceed a trillion dollars in capitalization, the whole industry here generates only a few tens of billions of profits? Undecided

For businesses to be more profitable, they will not declare everything their earn, the data is only based on the amount declared but in reality, they are making more than they declared. However, it's just speculation in our mind since we have no evidence, but as a mature person who is in business as well, I know how accountant does to make the business minimize the tax responsibility, and that is by reducing income and increasing expenses per record.

Hmmm ... to be honest, I can't seriously take the idea that in a country with very tough tax laws, where you can easily be jailed for tax evasion, someone does something like that. I think the discussed figures are very close to reality, even if there are some inaccuracies. Of course, there is always a black market, but we are talking about legal business, so we can ignore it.

That's happening mostly in countries where regulators are corrupt, the company does not pay the right taxes and when they are audited and found out the tax deficiencies, they will just settle with the auditors and pay them to settle the problem between them, so the government will not make the right revenue here because it goes to the pockets of the corrupt tax regulators.

Common things that do happen specially into known corrupt countries where these settlements do really happen once those establishments didnt really pay up tax well.You could really expect that there would be some

arrangements that would happen behind the curtains and would ending up that those money would really just go into the pockets of those corrupt officials.

Therefore even if how big the tax for casinos, it is still up to the implementors because if they don't implement it properly, the government would still not be able to achieve their target as these officials will only become richer from stealing the money of the people.

Quote

Is this something new? No its been a normal scenario that could happen from time to time and lets embrace this sad reality.

No in our country, lol.

dunfida

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Quote from: Sanitough on August 17, 2021, 04:39:11 PM

Quote from: KTChampions on August 17, 2021, 01:54:15 PM

Quote from: stadus on August 16, 2021, 05:33:10 PM

Quote from: KTChampions on August 15, 2021, 09:52:48 AM

An interesting article, thank you, it's a pity that there is no information on the profitability of this business or, roughly speaking, about the total turnover of money. In fact, the figure of 44 billion looks suspicious to me, while individual firms began to exceed a trillion dollars in capitalization, the whole industry here generates only a few tens of billions of profits? Undecided

For businesses to be more profitable, they will not declare everything their earn, the data is only based on the amount declared but in reality, they are making more than they declared. However, it's just speculation in our mind since we have no evidence, but as a mature person who is in business as well, I know how accountant does to make the business minimize the tax responsibility, and that is by reducing income and increasing expenses per record.

Hmmm ... to be honest, I can't seriously take the idea that in a country with very tough tax laws, where you can easily be jailed for tax evasion, someone does something like that. I think the discussed figures are very close to reality, even if there are some inaccuracies. Of course, there is always a black market, but we are talking about legal business, so we can ignore it.

That's happening mostly in countries where regulators are corrupt, the company does not pay the right taxes and when they are audited and found out the tax deficiencies, they will just settle with the auditors and pay them to settle the problem between them, so the government will not make the right revenue here because it goes to the pockets of the corrupt tax regulators.

Common things that do happen specially into known corrupt countries where these settlements do really happen once those establishments didnt really pay up tax well.You could really expect that there would be some

arrangements that would happen behind the curtains and would ending up that those money would really just go into the pockets of those corrupt officials.

Is this something new? No its been a normal scenario that could happen from time to time and lets embrace this sad reality.

Sanitough

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Quote from: KTChampions on August 17, 2021, 01:54:15 PM

Quote from: stadus on August 16, 2021, 05:33:10 PM

Quote from: KTChampions on August 15, 2021, 09:52:48 AM

An interesting article, thank you, it's a pity that there is no information on the profitability of this business or, roughly speaking, about the total turnover of money. In fact, the figure of 44 billion looks suspicious to me, while individual firms began to exceed a trillion dollars in capitalization, the whole industry here generates only a few tens of billions of profits? Undecided

For businesses to be more profitable, they will not declare everything their earn, the data is only based on the amount declared but in reality, they are making more than they declared. However, it's just speculation in our mind since we have no evidence, but as a mature person who is in business as well, I know how accountant does to make the business minimize the tax responsibility, and that is by reducing income and increasing expenses per record.

Hmmm ... to be honest, I can't seriously take the idea that in a country with very tough tax laws, where you can easily be jailed for tax evasion, someone does something like that. I think the discussed figures are very close to reality, even if there are some inaccuracies. Of course, there is always a black market, but we are talking about legal business, so we can ignore it.

That's happening mostly in countries where regulators are corrupt, the company does not pay the right taxes and when they are audited and found out the tax deficiencies, they will just settle with the auditors and pay them to settle the problem between them, so the government will not make the right revenue here because it goes to the pockets of the corrupt tax regulators.

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Quote from: worldofcoins on August 17, 2021, 08:01:32 AM

Quote from: South Park on July 21, 2021, 12:24:43 PM

Quote from: Ethan151 on July 18, 2021, 06:46:46 AM

Gambling is very dangerous and harmful to the society because its keeps one in a particular place and while away your time without you knowing with statistics not more than 30% of gamblers normally wins a game.. it’s very addictive to some persons more than drugs, because some persons uses the last money they have to place a bet and be ready for the results without reasoning on what to do next.. I’m of the opinion that 18 years shouldn’t be an ideal age for gambling, the age before you can gamble should be the range of adulthood

While it is true that addiction can happen the majority of the gamblers can enjoy it without suffering any bad effects on their lives and if anything I will be more worried about people being addicted to their smartphones than gambling addiction as it is way more common, also in most countries people are considered to be adults at 18 years old so it is impossible to stop them from gambling if that is what they want to do, unless you propose that age is pushed even farther back which I do not think it is going to be very popular among the young population.

Yes, but unlike smartphone addiction in gambling there's also an adrenaline rush where the outcome is unpredictable and money is on the line.
So there's a huge percent chance that many people will get addicted to it, if not for profit then for that adrenaline rush it provides, And I think most of the earlier casinos started for that.

Adrenaline is a survival hormone.

When a person is attacked by a predator, the level of adrenaline in the blood rises sharply. This allows you to engage in battle with a predator. Another scenario is possible. A person can simply run away from a predatory beast.

Also, the adrenaline rush allows you to approach a beautiful girl and get to know her. And then start a family and have children. However, it works differently for gambling.

If a player plays daily, then he has a daily adrenaline rush into the circulatory system. This destroys the human body.

Therefore, daily gambling is harmful.

KTChampions

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Quote from: stadus on August 16, 2021, 05:33:10 PM

Quote from: KTChampions on August 15, 2021, 09:52:48 AM

An interesting article, thank you, it's a pity that there is no information on the profitability of this business or, roughly speaking, about the total turnover of money. In fact, the figure of 44 billion looks suspicious to me, while individual firms began to exceed a trillion dollars in capitalization, the whole industry here generates only a few tens of billions of profits? Undecided

For businesses to be more profitable, they will not declare everything their earn, the data is only based on the amount declared but in reality, they are making more than they declared. However, it's just speculation in our mind since we have no evidence, but as a mature person who is in business as well, I know how accountant does to make the business minimize the tax responsibility, and that is by reducing income and increasing expenses per record.

Hmmm ... to be honest, I can't seriously take the idea that in a country with very tough tax laws, where you can easily be jailed for tax evasion, someone does something like that. I think the discussed figures are very close to reality, even if there are some inaccuracies. Of course, there is always a black market, but we are talking about legal business, so we can ignore it.

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Quote from: South Park on July 21, 2021, 12:24:43 PM

Quote from: Ethan151 on July 18, 2021, 06:46:46 AM

Gambling is very dangerous and harmful to the society because its keeps one in a particular place and while away your time without you knowing with statistics not more than 30% of gamblers normally wins a game.. it’s very addictive to some persons more than drugs, because some persons uses the last money they have to place a bet and be ready for the results without reasoning on what to do next.. I’m of the opinion that 18 years shouldn’t be an ideal age for gambling, the age before you can gamble should be the range of adulthood

While it is true that addiction can happen the majority of the gamblers can enjoy it without suffering any bad effects on their lives and if anything I will be more worried about people being addicted to their smartphones than gambling addiction as it is way more common, also in most countries people are considered to be adults at 18 years old so it is impossible to stop them from gambling if that is what they want to do, unless you propose that age is pushed even farther back which I do not think it is going to be very popular among the young population.

Yes, but unlike smartphone addiction in gambling there's also an adrenaline rush where the outcome is unpredictable and money is on the line.
So there's a huge percent chance that many people will get addicted to it, if not for profit then for that adrenaline rush it provides, And I think most of the earlier casinos started for that.

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Quote from: michellee on June 23, 2021, 07:07:57 AM

Quote from: Kong Hey Pakboy on June 22, 2021, 11:04:49 PM

~~~

I wish people who play gambling can realize that when they lose their money, they do not blame the casino but instead think of what they already did. It needs the courage to accept the fact because it can help us move on and have a chance to be better than before. If you can learn from your mistake, you will grow and become wiser than before to know what you will do when you play gambling.

Not courage, just a plain old dose of reality is enough to accept that you did all of it, and that it's nobody's fault but you. It's not courage, it's just being responsible to your actions that's going to make a difference.

Victorycoin

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After becoming addicted to gambling it becomes very much upset with not only the economic cost but also the emotional losing everything creates an uncomfortable environment a kind of negative reaction begins gambling is when a person's thoughts actions behaviors etc. are silently consumed when despite repeated attempts the action cannot be stopped, and gradually all economic family or social relationships begin to deteriorate it will be worn in mental illness too much tax is bad for the economy.

Shamm

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People who addicted in Gambling are easy to them to find a way to go on site, and money .Some addicted they can think about their day is incomplete without the gambling cause they accustomed and they just routine the gambling. Some gambler will get a mental ill because they are uncomfortable if they can not go gambling.

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Quote from: Kittygalore on August 16, 2021, 02:17:43 PM

Quote from: ongkok87 on August 15, 2021, 10:31:27 AM

There are also casinos where you do not have to pay taxes. I don't know about whether the casino has to pay taxes, but then it wouldn't be too good for the economy. Online earnings often disappear on offshore accounts. Then the government gets it all wrong.

Casinos pay big taxes I think, any gambling establishment has a higher tax rate compared to a normal business establishment. Also, it's not the clients responsibility to pay taxes, they are clients and it should be automatically deducted and if in terms of wins, I think it only applies to lotteries. Offshore accounts are easy to trace, you just need to have a dedicated team to hunt them and countries that offer them are getting fewer each year.

I guess so. The client or the members is just a visitor on the business, and if they should pay the tax, maybe that is not the tax like the gambling business paid.
But if the clients won some money, they need to pay taxes that will deduct from what they win.
However, suppose the government wants to hunt the business owner with money in the offshore accounts. It is not easy as it will need cooperation with the other that the situation and conditions in the related country.
We do not know how online gambling games pay taxes because many online gambling games operate out of their country.

LUCKMCFLY

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Quote from: Oshosondy on August 16, 2021, 05:56:48 AM

Quote from: Mauser on August 14, 2021, 03:53:13 PM

Compared to total number of gambler, addicts are a very small fraction.

I do not think so, according to a report I have read before, out of twenty people, five people are likely to be addicted, you do not just know them because gambling addicts do not want to tell anyone that they are addicts. Out of 100% of the people that are gambling, do not be surprise to see 20% among them to be an addict. Though more of gamblers are not addicts, I mean 80% percent are not likely to be addicted, but that 20% is still a very high number if related to the risk gambling can pose.

I think there are two types of gaming addictions:

1.- The gambling addict, who usually gambles as much of the time as possible, and does not mind risking a lot and losing it, in general these types of people tend to lose everything, and have many problems and pretend that nothing happens.

2.-The other type of player who usually goes to the casinos and watch them play, they play little, usually they are in the casinos to see and take advantage of the food and drinks (this in the traditional casinos) the case of the casinos online there are still them, I think they play very little but they like to be there, and that can also be treated as an addiction because they stop doing the normal activities of a common person.

These types of people are usually divided into many branches, but they start from those first two premises. I have a friend who is a psychologist, and he tells me that everything starts from there.

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Quote from: KTChampions on August 15, 2021, 09:52:48 AM

Quote from: stadus on August 14, 2021, 03:49:04 PM

As they say, the gambling industry is a billion-dollar industry and it's just amazing to see that despite the pandemic, the gambling industry is still very profitable. According to this reputable site, U.S. gambling revenue this year has broken the previous record.

https://www.forbes.com/sites/willyakowicz/2021/08/10/us-gambling-revenue-to--break-44-billion-record-in-2021/?sh=7ef3c6bc677b

Quote

U.S. Gambling Revenue To Break $44 Billion Record In 2021

An interesting article, thank you, it's a pity that there is no information on the profitability of this business or, roughly speaking, about the total turnover of money. In fact, the figure of 44 billion looks suspicious to me, while individual firms began to exceed a trillion dollars in capitalization, the whole industry here generates only a few tens of billions of profits? Undecided

For businesses to be more profitable, they will not declare everything their earn, the data is only based on the amount declared but in reality, they are making more than they declared. However, it's just speculation in our mind since we have no evidence, but as a mature person who is in business as well, I know how accountant does to make the business minimize the tax responsibility, and that is by reducing income and increasing expenses per record.

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Quote from: ongkok87 on August 15, 2021, 10:31:27 AM

There are also casinos where you do not have to pay taxes. I don't know about whether the casino has to pay taxes, but then it wouldn't be too good for the economy. Online earnings often disappear on offshore accounts. Then the government gets it all wrong.

Casinos pay big taxes I think, any gambling establishment has a higher tax rate compared to a normal business establishment. Also, it's not the clients responsibility to pay taxes, they are clients and it should be automatically deducted and if in terms of wins, I think it only applies to lotteries. Offshore accounts are easy to trace, you just need to have a dedicated team to hunt them and countries that offer them are getting fewer each year.

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Quote from: Saint-loup on August 16, 2021, 10:32:35 AM

Quote from: Oshosondy on August 16, 2021, 05:56:48 AM

Quote from: Mauser on August 14, 2021, 03:53:13 PM

Compared to total number of gambler, addicts are a very small fraction.

I do not think so, according to a report I have read before, out of twenty people, five people are likely to be addicted, you do not just know them because gambling addicts do not want to tell anyone that they are addicts. Out of 100% of the people that are gambling, do not be surprise to see 20% among them to be an addict. Though more of gamblers are not addicts, I mean 80% percent are not likely to be addicted, but that 20% is still a very high number if related to the risk gambling can pose.

No you are wrong Oshosondy. If 5 people are addicted among 20 people, it means the overall percentage rate is above 20%. It corresponds to 5x5=25% of the population. One quarter of the gamblers then. Those figures are very high and I don't think they match reality because I've never heard that one quarter of traders would be addict while it's almost the same activity at the end.

If that percent is real, there's no reason for the government not to ban gambling, that's an automatic ban because it only says that gambling does make the life of the people harder, and although the government makes revenue from taxes, they have to increase their budget to rehabilitation and most probably crime rates will increase, which is not a win-win situation for them.

Topic: Economic Costs of Gambling - page 2. (Read 4124 times)