Economic Costs of Gambling - page 5.

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Quote from: Mauser on July 18, 2021, 02:14:31 AM

Quote from: Dread Pirate Roberts on July 18, 2021, 01:02:10 AM

Quote from: casperBGD on July 17, 2021, 03:20:11 PM

gamblers are expected to start trading, prior to investing, it is the same interest in mind, and daily traders are pretty similar to gamblers
nevertheless, it is not the same, gamblers usually settle their bets within short time frame, with two possible outcomes, and traders have a chance for a turnaround in few days, regarding their trade, and trader could close a trade with a small win/loss, it is not just total win/loss situation

Almost the same is actually very different. traders have a concept like a big risk investment. different from gambling is that the results occur at the same time. I don't think trading is gambling. because there is a fundamental basis through charts and analysis.

One more difference between trading and gambling is that in gambling if you lose, the casino wins. It is all the gamblers play against house. Where as I trading everybody plays against each other. So the casino only has games where they have an edge. Whereas with trading it is up to us to find the edge.
Trading among each other doesn't create the same tax returns that gambling in a casino does. Its much more attractive for the country to have gambling tax revenues.

Not quite so ...

Trading also has its own croupier (crypto exchange), which takes a percentage of the transactions of all players. The probability of making a profit usually does not exceed 50%. This is especially true for short-term trading.

At the same time, a trader can increase the likelihood of his winning by developing his analytical skills or using inside information.

The player does not have such an opportunity. Most gambling is based on luck (except poker). The player has no control over his luck. It is beyond his power.

Consequently, he can acquire the syndrome of "learned helplessness." This is a very terrible thing that destroys the human psyche ...

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Quote from: BTCLiz on June 05, 2021, 08:07:00 AM

snip

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?

for me it's all just a normal life cycle....countries that got big taxes from gambling should provide rehabilitation and other costs if an addict commits a crime or wants to stop gambling. see how gambling addicts in countries where gambling is not legal and get big taxes from gambling, their government won't provide rehabilitation for gambling addicts.

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Quote from: 3meek on July 17, 2021, 12:50:54 PM

Perhaps it is appropriate to say this about real casinos, where people come to have fun, to be entertained... But if we're talking about online casinos, it's probably impossible to get it all there, like in a real casino... In online casinos there's a high chance of addiction...

Not only in online casinos but also in real life casinos. Both of them can trigger and can give addiction to those gamblers that are not responsible for their actions.
They have an impact economy and gives profit to the casino but the recoil also hits them for addiction as they gamble.

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Quote from: casperBGD on July 17, 2021, 03:20:11 PM

gamblers are expected to start trading, prior to investing, it is the same interest in mind, and daily traders are pretty similar to gamblers
nevertheless, it is not the same, gamblers usually settle their bets within short time frame, with two possible outcomes, and traders have a chance for a turnaround in few days, regarding their trade, and trader could close a trade with a small win/loss, it is not just total win/loss situation

Almost the same is actually very different. traders have a concept like a big risk investment. different from gambling is that the results occur at the same time. I don't think trading is gambling. because there is a fundamental basis through charts and analysis.

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Quote from: LUCKMCFLY on July 17, 2021, 03:05:48 PM

Quote from: 3meek on July 17, 2021, 12:50:54 PM

Quote from: dbc23 on July 17, 2021, 12:35:33 PM

Gambling doesn't have negative vices alone there are also positive vices as well. Taking for example a fun seeker you Gamble's at his/her odd hour would certainly do it for the fun of it even if the game turns out positive or negative that is a winning game or lost game since it's done with a fun. Mindset he catches the fun from it and moves on. This could also help curb boredom and loneliness

Perhaps it is appropriate to say this about real casinos, where people come to have fun, to be entertained... But if we're talking about online casinos, it's probably impossible to get it all there, like in a real casino... In online casinos there's a high chance of addiction...

I don't know if you have considered any similarities between gambling and trading? I have achieved a similarity in terms of the concept, because if I see trading as a long-term business it will give profits, that is, I can operate every day and it generates very small profits, in the long term the benefits will be seen, as it happens in gambling, if we play and have small profits we can have long-term profits.

The danger of both is that you can fall into despair and probably vice, it is a matter of being very careful and having the psychological aspect in a very high way.

Yes, there are many similarities between exchange trading and gambling! And there and there most people lose money! Grin

I do not know what percentage of successful gamblers, but among traders it is about 3%...
Yes, sometimes I trade at the exchange too but I can not call myself a successful trader, it's the same with betting, sometimes I lose more than I win ... And I`m sure I`m not the only one! Wink

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Quote from: LUCKMCFLY on July 17, 2021, 03:05:48 PM

~snip
The danger of both is that you can fall into despair and probably vice, it is a matter of being very careful and having the psychological aspect in a very high way.

gamblers are expected to start trading, prior to investing, it is the same interest in mind, and daily traders are pretty similar to gamblers
nevertheless, it is not the same, gamblers usually settle their bets within short time frame, with two possible outcomes, and traders have a chance for a turnaround in few days, regarding their trade, and trader could close a trade with a small win/loss, it is not just total win/loss situation

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Quote from: 3meek on July 17, 2021, 12:50:54 PM

Quote from: dbc23 on July 17, 2021, 12:35:33 PM

Gambling doesn't have negative vices alone there are also positive vices as well. Taking for example a fun seeker you Gamble's at his/her odd hour would certainly do it for the fun of it even if the game turns out positive or negative that is a winning game or lost game since it's done with a fun. Mindset he catches the fun from it and moves on. This could also help curb boredom and loneliness

Perhaps it is appropriate to say this about real casinos, where people come to have fun, to be entertained... But if we're talking about online casinos, it's probably impossible to get it all there, like in a real casino... In online casinos there's a high chance of addiction...

I don't know if you have considered any similarities between gambling and trading? I have achieved a similarity in terms of the concept, because if I see trading as a long-term business it will give profits, that is, I can operate every day and it generates very small profits, in the long term the benefits will be seen, as it happens in gambling, if we play and have small profits we can have long-term profits.

The danger of both is that you can fall into despair and probably vice, it is a matter of being very careful and having the psychological aspect in a very high way.

3meek

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Quote from: dbc23 on July 17, 2021, 12:35:33 PM

Gambling doesn't have negative vices alone there are also positive vices as well. Taking for example a fun seeker you Gamble's at his/her odd hour would certainly do it for the fun of it even if the game turns out positive or negative that is a winning game or lost game since it's done with a fun. Mindset he catches the fun from it and moves on. This could also help curb boredom and loneliness

Perhaps it is appropriate to say this about real casinos, where people come to have fun, to be entertained... But if we're talking about online casinos, it's probably impossible to get it all there, like in a real casino... In online casinos there's a high chance of addiction...

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Gambling doesn't have negative vices alone there are also positive vices as well. Taking for example a fun seeker you Gamble's at his/her odd hour would certainly do it for the fun of it even if the game turns out positive or negative that is a winning game or lost game since it's done with a fun. Mindset he catches the fun from it and moves on. This could also help curb boredom and loneliness

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Quote from: palle11 on July 16, 2021, 04:13:35 PM

Quote from: 2double0 on July 05, 2021, 04:31:13 PM

Quote from: BTCLiz on July 05, 2021, 12:10:44 AM

Quote from: 2double0 on July 04, 2021, 02:27:47 PM

Why do they allow gambling to such extent when they already know how expensive it can be to the society? Why to allow casinos at the first place? It is because governments collect hefty taxes from this industry in order to let it run, the same goes to drugs and alcohol. If we expect the change, we need to be the change and start taking the first step so to let addicted gamblers come back under the category of normal gamblers who know and understand their limits.

What exactly do you mean by "to let addicted gamblers come back under the category of normal gamblers"? Do you want addicted players to come back to the tables? In my opinion this would be a very bad idea, because this would make these poor people worse off if they are able to gamble again.

You misunderstood my point. I meant that the gamblers should be stopped from playing a lot and let them be capped at some point so they will not lose what they can if they continue to gamble. So if this cap is imposed and they have lost that much, they will not be allowed to gamble for some time which may move the addiction of gambling out of them.

Addiction is a habit that won't stop in a day. It is a gradual process for a habit to be stopped. Trying to use force for an addict may not work rather it can get worsened because bad habit fights back. Even when you take the casino or gambling office away from the gambler, he can find the place.

Capping or playing gambling with a limit as a feature in a gambling site won't be implemented because it's a business. The gambling sites doesn't care about their players getting addicted because it's a favor on them, the more addicted players they have, the more bankroll they can get. Also, it's not gambling site's responsibility to cure your addiction, it's your responsibility to control yourself when you're playing gambling so you won't suffer the consequences at the end.

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Quote from: palle11 on July 16, 2021, 04:13:35 PM

Addiction is a habit that won't stop in a day. It is a gradual process for a habit to be stopped. Trying to use force for an addict may not work rather it can get worsened because bad habit fights back. Even when you take the casino or gambling office away from the gambler, he can find the place.

The addiction to gambling needs time to stop the habit and with having a good effort and support from their closest people, they can rise step by step and prevent the addiction in the future. It is hard for them but that is the must thing they must do if they want to solve the addiction problem. The gamblers need to realize that the casino is not asking them to continue playing gambling, but the gambler decides. Using limitations to playing gambling, they can slowly know that the addicting problem is the urgent thing they need to solve.

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Quote from: palle11 on July 16, 2021, 04:13:35 PM

Addiction is a habit that won't stop in a day. It is a gradual process for a habit to be stopped. Trying to use force for an addict may not work rather it can get worsened because bad habit fights back. Even when you take the casino or gambling office away from the gambler, he can find the place.

Yeah, that's why the gambling businesses are standing firm and the effect they give positively to the government through their contribution and taxes is quite big. While on the other side, they also know that there's a bad effect on those addicted gamblers that can no longer control themselves. Well, there's a balance, there's good and bad but worse for the gambler that can no longer redeem himself because of his severe addiction and don't know where to get help.

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Quote from: palle11 on July 16, 2021, 04:13:35 PM

Quote from: 2double0 on July 05, 2021, 04:31:13 PM

Quote from: BTCLiz on July 05, 2021, 12:10:44 AM

Quote from: 2double0 on July 04, 2021, 02:27:47 PM

Why do they allow gambling to such extent when they already know how expensive it can be to the society? Why to allow casinos at the first place? It is because governments collect hefty taxes from this industry in order to let it run, the same goes to drugs and alcohol. If we expect the change, we need to be the change and start taking the first step so to let addicted gamblers come back under the category of normal gamblers who know and understand their limits.

What exactly do you mean by "to let addicted gamblers come back under the category of normal gamblers"? Do you want addicted players to come back to the tables? In my opinion this would be a very bad idea, because this would make these poor people worse off if they are able to gamble again.

You misunderstood my point. I meant that the gamblers should be stopped from playing a lot and let them be capped at some point so they will not lose what they can if they continue to gamble. So if this cap is imposed and they have lost that much, they will not be allowed to gamble for some time which may move the addiction of gambling out of them.

Addiction is a habit that won't stop in a day. It is a gradual process for a habit to be stopped. Trying to use force for an addict may not work rather it can get worsened because bad habit fights back. Even when you take the casino or gambling office away from the gambler, he can find the place.

And this is why this market is profitable due to that kind of behavior or on when people do really end up on being an addicted person.Gambling business wont really be generating

lots or big revenues if addiction doesn't really exist on the first place and since human beings is highly reactive to money or when it comes to that then these are just common behavior

for someone to see.We've seen on how gambling business do share up with bigger allocation in terms of taxes which other or most business cant really level with it
because its of course on the revenue they are making out of those addicted gamblers.

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Quote from: 2double0 on July 05, 2021, 04:31:13 PM

Quote from: BTCLiz on July 05, 2021, 12:10:44 AM

Quote from: 2double0 on July 04, 2021, 02:27:47 PM

Why do they allow gambling to such extent when they already know how expensive it can be to the society? Why to allow casinos at the first place? It is because governments collect hefty taxes from this industry in order to let it run, the same goes to drugs and alcohol. If we expect the change, we need to be the change and start taking the first step so to let addicted gamblers come back under the category of normal gamblers who know and understand their limits.

What exactly do you mean by "to let addicted gamblers come back under the category of normal gamblers"? Do you want addicted players to come back to the tables? In my opinion this would be a very bad idea, because this would make these poor people worse off if they are able to gamble again.

You misunderstood my point. I meant that the gamblers should be stopped from playing a lot and let them be capped at some point so they will not lose what they can if they continue to gamble. So if this cap is imposed and they have lost that much, they will not be allowed to gamble for some time which may move the addiction of gambling out of them.

Addiction is a habit that won't stop in a day. It is a gradual process for a habit to be stopped. Trying to use force for an addict may not work rather it can get worsened because bad habit fights back. Even when you take the casino or gambling office away from the gambler, he can find the place.

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Quote from: dimonstration on July 12, 2021, 01:39:08 PM

Quote from: yazher on July 08, 2021, 01:21:08 PM

But if the government implements strict rules regarding it, those who will push its limit into illegal gambling will be punished severely and they won't even think about it as their alternative. But those people who are drawn into addiction will only find their way to play even though it's not in their country. most of them have access to online gambling to suffice their hunger to play which is the case where the government has not yet enough control because of how tricky the internet is.

Online activities are something many can't control no matter how good the government is. Unless they will be putting a team or unit that will just simply focus on monitoring online activities of gambling. But in today's era what will matter most is if the website is register rather than checking if addiction occurs in that player.

That is the thing, when the only way you could gamble was by going to the casino then there was some sort of way to regulate it or to make it illegal but now that gambling can be done online and it has become so popular then this is not longer possible, after all even if gambling is forbidden in a country what is stopping a person from getting some bitcoin and gamble that way? Nothing can stop a person like that since the government is not going to know that this person is gambling, so governments have no option but to make it legal and while this is not the case in all countries around the world it will eventually happen.

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Quote from: yazher on July 08, 2021, 01:21:08 PM

But if the government implements strict rules regarding it, those who will push its limit into illegal gambling will be punished severely and they won't even think about it as their alternative. But those people who are drawn into addiction will only find their way to play even though it's not in their country. most of them have access to online gambling to suffice their hunger to play which is the case where the government has not yet enough control because of how tricky the internet is.

Online activities are something many can't control no matter how good the government is. Unless they will be putting a team or unit that will just simply focus on monitoring online activities of gambling. But in today's era what will matter most is if the website is register rather than checking if addiction occurs in that player.

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Quote from: Fredomago on July 08, 2021, 01:10:18 PM

Quote from: South Park on July 08, 2021, 12:56:31 PM

They have no other option, the only other possibility is to ban gambling and then now you have two problems instead of one, not only you will still have the same number of those addicted to gambling now you need to chase the people behind the now illegal casinos, also it is impossible to limit how much people can gamble, if for example the limit was set to 500 dollars to non-VIP players and an addicted gambler had 5000 dollars then that person will just play in ten different casinos and lose their money anyway.

Another good point. The government needs to weigh things out as problems will show up if they start the ban for this industry, knowing that there are already people who are involve to this business.

Those owners will push the business to run even in terms of illegal activities, money will flow without any benefits for the government

while they need to spent time and money to arrest those illegal gamblers who will continue to play even restrictions already been rule out.

This has happened throughout history and it is not something new, it happened with alcohol, it happened with gambling and it is happening right now with drugs, governments have fought a war against drugs for decades and after the fortunes that have been spent on this and all the lives that have been ruined governments are finally changing their tune as they are realizing that it is useless to keep fighting against something that will never disappear when they can obtain taxes out of it.

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Quote from: Fredomago on July 08, 2021, 01:10:18 PM

Another good point. The government needs to weigh things out as problems will show up if they start the ban for this industry, knowing that there are already people who are involve to this business.
Those owners will push the business to run even in terms of illegal activities, money will flow without any benefits for the government
while they need to spent time and money to arrest those illegal gamblers who will continue to play even restrictions already been rule out.

But if the government implements strict rules regarding it, those who will push its limit into illegal gambling will be punished severely and they won't even think about it as their alternative. But those people who are drawn into addiction will only find their way to play even though it's not in their country. most of them have access to online gambling to suffice their hunger to play which is the case where the government has not yet enough control because of how tricky the internet is.

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Quote from: South Park on July 08, 2021, 12:56:31 PM

Quote from: 2double0 on July 04, 2021, 02:27:47 PM

Why do they allow gambling to such extent when they already know how expensive it can be to the society? Why to allow casinos at the first place? It is because governments collect hefty taxes from this industry in order to let it run, the same goes to drugs and alcohol. If we expect the change, we need to be the change and start taking the first step so to let addicted gamblers come back under the category of normal gamblers who know and understand their limits.

They have no other option, the only other possibility is to ban gambling and then now you have two problems instead of one, not only you will still have the same number of those addicted to gambling now you need to chase the people behind the now illegal casinos, also it is impossible to limit how much people can gamble, if for example the limit was set to 500 dollars to non-VIP players and an addicted gambler had 5000 dollars then that person will just play in ten different casinos and lose their money anyway.

Another good point. The government needs to weigh things out as problems will show up if they start the ban for this industry, knowing that there are already people who are involve to this business.

Those owners will push the business to run even in terms of illegal activities, money will flow without any benefits for the government

while they need to spent time and money to arrest those illegal gamblers who will continue to play even restrictions already been rule out.

South Park

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Quote from: 2double0 on July 04, 2021, 02:27:47 PM

Why do they allow gambling to such extent when they already know how expensive it can be to the society? Why to allow casinos at the first place? It is because governments collect hefty taxes from this industry in order to let it run, the same goes to drugs and alcohol. If we expect the change, we need to be the change and start taking the first step so to let addicted gamblers come back under the category of normal gamblers who know and understand their limits.

They have no other option, the only other possibility is to ban gambling and then now you have two problems instead of one, not only you will still have the same number of those addicted to gambling now you need to chase the people behind the now illegal casinos, also it is impossible to limit how much people can gamble, if for example the limit was set to 500 dollars to non-VIP players and an addicted gambler had 5000 dollars then that person will just play in ten different casinos and lose their money anyway.

Topic: Economic Costs of Gambling - page 5. (Read 4139 times)