Topic: How gambling can effect the economy of a country [Part 1 - USA] (Read 515 times)

there is no other way if taxation becomes the main capital to take advantage in a gambling if it is open from it from where else the tax can be from anything and it is very much for the country

It is not a matter of legalization gambling all over the world. The matter is the bad consequences of gambling. You better know that a regular gambler never wins money in gambling and when he has no money he can do any illegal activity for having some money and to take his addiction of gambling. I strongly condemn the legalization of gambling.

That is called employment and that is associated with every company that needs to deal with people. Gambling industry is porfitable for the owners and the employees but not for the player though.

If they like their job then they should be enjoying it as well. That does not mean everyone would like this as a job. Imagine going to a social meeting and people ask you about your job and then you say "I work at a casino"

Most people cant control their emotions and tend to addicted.

It means that you want to legalize an illegal thing just for tax and for the economy of a country. No doubt that in every country people gambles but not openly because of the legal issue but legalization means that people will gamble freely without any fear but will have to give tax to the government. It doesn’t make any sense that you want to collect tax on something worst thing.

Yes, there's definitely a positive side of gambling as well. Our country has been in a gambling war ever since and I don't know if they are very successful. But on the last 20 years or so, it somewhat legalizes some gambling and we even have a lot of casinos right now bringing jobs to us. I have talked to some of the dealers and they attest that working in a casino has a lot of perks besides their monthly pay, they can earn thru tips or even have night differential payments (obviously) that most of them as young as mid 20's have there own car already which is not the norm here. My take here is that its not the casino's problem is somewhat get's addicted, its still up to the person on how he/she will manage and the responsibility to not immersed themselves in too much gambling.

gambling can indeed help the country's economy by levying taxes on gambling premises by official. but for some countries may not be able to accept it. so overall, gambling can not help the country's economy.

First of all I am so happy for many countries where gambling is banned. If these countries don’t consider the importance of crypt, then they must have at least a little sense of welfare for their citizens to ban gamble in any form. You must think before getting in this trap that either it is traditional or online, both would creep money from you and don’t let you pay taxes to your state.

Oh for god sake what the shit are you just writing here. Don’t you see the real facts and figures about gambling and how it is affecting the economy of a country? People are losing their healthy and wealthy lives just because of this gambling.

They become homeless for this gambling and you are saying by paying tax. A person who don’t have anything to eat for one time, how would he pay tax?

I think it improves the economy of a country of gambling is legal and people gamble through a legal way. Yes, it may destroy the financial conditions of the people but it benefits the economy of a country because a government continuously collect tax over gambling either it’s a low class gambling or a high class gambling, it is non of concern of the government, they simply collect taxes and improve the economy of a country.

When it comes to potential economic progress then gambling industry can really give out that opportunity or chance for a particular country and yes it would be on the form of tax.This is why we do seen some countries do legalize it for the sake of that purpose or benefits but yet we have still seen countries which do prohibits it and doesnt mind of the possible benefits that it gives because they are looking on the other side which it can really have negative effect into its citizens.

This is really alarming. If the state is thinking of gambling as virtue act and emphasizes over making it permanent in vicinity, I think they must be taught well about gambling and their harms. People must know that if government have allowed it, how one can gets feared from gambling and how they would be making a negative aspect on their mind against gambling.

I think since it's not actually gambling but rather a gambling framework taken for the purposes  to teach math using gambling concepts, it should be okay. Take Mafia (party game) for example. Although it's not allowed to be a part of a mafia and murder people in real life, it is perfectly acceptable by society to play this party game even with children involved. The same approach, in my opinion, should be applied to inserting gambling in mathematics lessons in the countries where real gambling is prohibited.

Overall if it is done responsibly I believe it is a positive impact on our economy, look at the lottery, if someone hits the powerball, the federal government get 10's of hundreds of millions of dollars off of a single winning, that and the lottery is putting thousands of people free through college with scholarships!!! with the proffits. overall gambling is good for the environement if the host are fair and pay in their taxes at the end of each year!!! Gambling in vegas alone is a billion dollar industry for the federal government!!! Just play responsibly and I see no issues!!!

That is what I was thinking about; there is not doubt that country has a lot of benefit from gambling industries and casino in the form of tax. Gambling helps a country in increasing the economy rate and this economy is using for the benefit of people. As people lose money and some earn money while gambling which is a common thing related to business and we should improve gambling in order to play its role in increasing the economy rate.

this is actually good, but is it acceptable to insert gambling in mathematics lessons? in some countries may not be a problem because gambling is legalized there, but what about their views that are not legislated by gambling?

if the state is only thinking about the benefits it can happen to live the state legalize a gambling so that people gamble but we need to think negative things as well when the legality of gambling happens then the criminal rate will be higher.

Good thread and good articles, in economic problems gambling can help the economic problems of a country. This is an impact if a country relocates a gambling place, and the government can then freely issue a tax decision. One of the biggest state revenues is taxes, and I think it will be mutually beneficial both from gamblers and governments that legalize gambling.

Yeah youre right,big amount of taxes are gained with gambling.but you know how much economy loses because lots of people that engaging in gambling are involving in lots of vices too,smoking,alcohol drinking some are drug addiction and womanizing,look how much government spend for the medical health ofhis individuals if they turn sickness,because just part of the losses in gambling goes to government as tax but majoritu comes to the bankers and they are the only beneficiary of this

This is a great idea imo. I teach school kids math occasionally and I can tell that if any kind of a game involved they start to learn with greater interest and effectiveness. The truth is that math is boring for most kids but knowing how important to learn it we have to do everything possible to spark their interest in it. Teaching probability through gambling may be indeed advantageous. Thus we can kill two birds with one stone: teach kids math and show them that it's impossible to profit from gambling in the long run. Also after the classes no one will believe in those dice bots that make you win.

I guess the confusion is about gambling being immoral rather than illegal as we might have some actions that are immoral but legal based on the context of the law of different jurisdictions. The main reason why a lot of people have this view is about our upbringing either religious or social environment that people were taught that the best way to make money is to work and didn't classify gambling as work but rather leaving someone in a disadvantage position for you to smile. That understanding is always difficult to shake off even when one is an adult and you still value religion as the path to righteousness.

The economic impact of gambling cannot be swept under the carpet as its very obvious for people to see. Imagine the economy of Las Vegas without gambling? talk about the value of land, businesses, hotels, workers there, banks and every human endeavors.

How come you call gambling illegal when a government decides to legalized it. In USA, an entire city like Las Vegas is known for the gambling tourism and people from around the world visits Vegas to play gambling for their entertainment.

You are also talking about taxes. It is a win-win scenario for both the gamblers and the government. People get their entertainment and winnings/losses and government get their part of taxes. Both parties are happy. Where comes the illegality??

No doubt that the public shows very keen interest regarding gambling in any state of the world that’s why the government isn’t willing to shut these casinos even when they know that these are illegal and are running in their state. One more thing that I can think off for which I think the government is not shutting these casinos is because they are getting paid from these casinos in shape of heavy taxes.

when gambling is already a lot of public interest it will be a lot of new gambling spots emerging so that the government will take advantage of it can be from taxes or rental fees.

It is positive on our economy, if I hit a 1000$ jackpot after taxes I get back close to 700, the federal government makes 300 dollars off of me making 1000$ ( 670 after taxes)

Take the lottery for example you can go check the page and see to this date how many people have gotten scholarships off of people playing mega millions and powerball!!!

This is an excellent article bud, I'm glad you shared it here with us. The pro activists have been telling the government to legalise gambling in all countries so they earn tax and people earn amusement. This article is a slap in the face who have called gambling to be taken off the table, it is our money that aid your development mofos. I hope all countries realise it's potential and legalise it.

the point is tax. if the state takes taxes in every gambling house or gambling site, the country will definitely get a good impact. but on the other hand, the losers will lose their money as well. which means the economy is no longer balanced if not mutually beneficial.

but I don't think that in a country that bans the gambling, it could give some income to the country because the government prohibits the gambling owner to run their business and people don't play gambling in that country. but somehow, I agree that in a country that allows gambling will take a big revenue from the gambling section so it will increase their economy.

When we consider gambling and its positive effects, mainly it revolves around the economic aspect in the society. Facts stated that it provided job opportunities to individuals, yielded large amounts of revenue, and collected taxes which the government needs for expenditure. Again, economically speaking, gambling provides a win-win situation between an employee and the government.

Now when we consider its social impact to the society, gambling can be destructive mentally and socially. It can create various mental illnesses and problems like addiction, which can affect the well-being of an individual. With the generated income they received from casinos, the government now has the sole responsibility of addressing these issues to prevent any further damage. The problem will only persist once they do not implement laws/regulations catering to these individuals.

Damage control system is hard to implement. Instead right education can control most of the things here as you've correctly pointed out. An educated gambler never becomes addicted to gambling because he knows where to stop. But if a person is playing completely out of greed, can become addicted easily if that person manages to get one or two wins.

If I have $1,000 with me as a surplus money, I may indulge myself with gambling with probably $200 and rest I can keep for other things. But if I indulge in gambling with the entire amount, I really can't blame anyone if I don't have money for food that day. I can only blame my addiction to gambling. That's what makes the difference between an educated gambler and an addicted gambler. Proper education about gambling can reduce the negative impact of gambling to a great extent.

The house will always win and government will also benefit on that. Gambling is a big thing in one country because they can really boost the economy, increase the employment rate and generate higher profit thru taxes but the small gamblers suffer on this thing simply because of the greed. Gambling is actually not a bad a thing but people misunderstood the real purpose of gambling and they ended up broke.

I love how it could really affect the country and many people benefitting from it, and you can't lie, that it has definitely an impact. Like anything else, there are a lot of pros and cons in things, and it wouldn't be enough to justify what is currently happening. Hopefully, the casinos are actually paying taxes to the government and in the right amount. There is nothing wrong with gambling as long as people control themselves. It's the people who let themselves to addiction.

Though it effects on the people are mostly bad, Gambling has a positive effect on the economy of the country due to the taxes that gambling companies end up paying to the government. In some countries the state itself engages in gambling like the lottery.

Money don't disappear. The money flowing through the casino isn't a bad thing. It's just a thing. Morte money is flowing every day through your country's central bank but you aren't calling it a bad institution with negative impact on the economy. You can't really protect people from addiction. The existence of gambling doesn't make them addicted.

Most of that profit generated from gambling is concentrated in hands of owners, investors and top management, you don't need to have many employees to run a casino. So, the positive effect of gambling industry is relatively small, comparing with the amounts of money flowing through it. But the biggest problem is that it has a negative impact of making poor people poorer and ruining lives of those who develop addiction - this is clearly a negative social and economic impact of gambling.

People are wrong for stigmatizing it, because it makes the problem worse, what is needed is better education, teachers should be covering gambling in schools when they teach probability at math classes. Cryptocurrency casinos are also better from economic point of view, because they offer investment opportunity to broader public, instead of making few rich people richer.

There is a positive element of a negative stream contained in a casino that I think the article is really thankful to have shared it,but still if someone loses a lot of money as well as the assets of the house of the land all in the gambling it includes crazy losses.Better to distribute everything for the people small or can be called a beggar,still he can play just for fun only.

I suppose OP means how it can affect the economy.

Any economic activity affects the economy of the country. Prostitution and drug trafficking also affect the economy even though they are illegal in most countries, look at what happens in Mexico for example.

Gambling in Macau and Las Vegas affects the economy a lot but in a middle-sized city with just one casino it doesn’t affect so much.

for the country of gambling is indeed a real greed. because revenue from gambling is huge. let alone from tax revenues. gambling houses are companies that dare to pay big taxes. even 20% of the income they are willing to pay. when the average company only pay 10-15% tax. and this is certainly one of the advantages that can be from gambling.
and when the establishment of a gambling house, they can cut 5-10% unemployment rate in the city

Religious beliefs is one of the reason why gambling is portrayed out to be a negative thing which same as you said we do easily notice on how this thing do destroy ones life but still this is just really a game and as a player we should really be responsible on the risk behind it.When we do talk about economy then i do see a positive outcome or contribution with this one considering taxes would really be add up for further development of a certain country but ofcourse there would really be a negative exchange.

the effect of gambling for personal maybe they can lose their money in many of games without having a chance to recover their money. but for the country, I think gambling industry can give an income for the country because the owner should pay the taxes of the business and indirectly, it helps the economy of the country to grow and if the economy can grow, it means people can get a better facility for their life. maybe this is what I can see that because, in every business, there will be a taxes that will pay to the country which will give contribute to the economy of the country itself.

gambling can have an addictive effect on the players, it may be exactly the same as those who are addicted to drugs. not a few people who play gambling experience a massive defeat so that all walks of life are able to assess gambling as a negative activity that can spend money. but most people who are used to gambling they think gambling is a game that is very fun and can provide benefits.

Gambling is always good for the country overall but it often doesn't turn out the same way for the individual. Gambling is portrayed negatively because of the negative impact that it often has on people's lives. Also, may people believe gambling is bad because of their religious beliefs.

I agree that there can be some positive impacts to the gambling industry, when the industry is controlled then there are some economic benefits as a result of taxation, but you also have to consider the human cost of this. Many of the people that play at casinos are actually addicted, and are causing severe impacts to their life by the amount of money they lose. I think this is the next step that regulation needs, some sort of damage control system.

In our society, the general idea about gambling is negative. People don't miss a chance to criticize gambling even if they have never experienced it in their lifetime. I have been fighting against this particular social taboo through this community. I have already created two threads about it and you are welcome to pour in your feedback to those threads as well.

Thread 1:
Why gambling is portrayed negatively almost everywhere?

Thread 2:
Benefits of gambling? Yes - it exists!

Today's topic is another addition to my fight against this social taboo. Not many people know how the economy of a country can be befitted from gambling industry. Today is the first part and we will talk about USA. The next parts will be based on Macau and so on. I came across an article on this exact point, published by CNBC. Even though the article is almost 4 years old, but didn't loose its significance. It shows how gambling industry has benefited the economy of USA.  

Few key points mentioned in the article:
1. Direct employment of 570,000 people, with total jobs impact of 1.7 million (including nearly 200,000 government jobs)
2. Revenues of $81 billion in 2013, including $30 billion from Native American casinos
3. $38 billion in taxes paid
4. $102 billion in direct economic impact, and when you throw in all the spending done by employees in the general economy, the total impact is $240 billion (this does not include spending on casino construction).

You may hate gambling due to many reasons, but you can't really deny these positive points about gambling industry which are directly impacting the economy of a country favorable to it. So spread love about it, not hate!

Article source: https://www.cnbc.com/2014/09/30/casinos-and-gambling-business-jackpot-gamings-impact-on-the-us-economy.html