Topic: How gambling can effect the economy of a country [Part 3 - Australia] (Read 284 times)

And as far as I know, mostly people here and others as well, any sensible person who have got a little mind even, never ever vote for gambling. Never, reason is, this is just a waste thing that helps you to make yourself empty handed. You are earning from different sources just to make yourself wealthy. But why then to introduce all that money in gambling and lose and left with nothing.

If a person goes to Australia from another country to spend $5k in casinos there, this person, by all means, is not poor. So I have no pity for them losing money, because that's a small money for them and they lose it on their entertainment. Do you pity those going to expensive restaurant and spending $500 there during one evening? Me neither. This is how redistribution of wealth works: Those having more than enough spend it in luxury hotels, restaurants and casinos and the money goes for payment for labor of poor people.

Acknowledgment from various parties will determine whether gambling can give positive impact or give negative thing. Regulation will also greatly influence how gambling can develop in the social system of society. That's because at the moment that the public view of gambling is a negative thing, many people are giving bad stigma to gambling. Yes it is natural because gambling does have the nature of addiction that if not in control then it can damage our lives.

It’s not that it’s not economic, it’s the effect on people is whats dangerous. If you compare the normal employment to gambling (hobby) it’s really different. If you take the account on being an employee in a casino, it’s also different. The rosks are different, maybe you will notice the people that have an addiction and you might not gamble anymore.

I guess most people view gambling as been bad to the country's economy its the possibility of many citizen becoming addicted. But from what you wrote, its interesting to know that gambling has been enforcing postive contribution to the economy but where i felt need adjusting is the situation of classifying gambling as a form of employment cause gambling has so much risk than a normal job.

Some stats from uk
People are spending on offline slots bigger money that UK defense  budget have
It is only on offline slots.To stop that madness UK limited max bet on slots from 100 GBP to 2 GBP.Do you think it will help by my opinion no
And offline slots are not asking for KYC so kids can play as they want

This is huge and I am wondering how this country didn't come first in the list you are reviewing because for a country to boast of all of these statistics and the staggering one is having at least 80% adults involved in gambling should just spiral them to the forefront of countries to be reviewed. I actually need to commend you effort though in going beyond the normal by educating people about gambling in other parts of the world and also to cast a new line of thought to people who believes that gambling is bad or devilish simply because of their own moral, cultural or religious belief without considering the amount of good that it can do for an economy and the funny thing is that it cannot be stopped. When a country decides to ban gambling, it has just successfully shut itself out of the revenue from that source because people will find a way and with the coming of crypto-currency, it means that the loss is to another warming country which if used judiciously will continue to flourish in the midst of scarcity.

I really had no idea gambling made up so much of taxation in this continent, thank you for the read. I wonder if 7.7% of gambling tax is worth legalization, though, when you also see that tax money has gone towards gambling rehabilitation and development in poorer areas where addiction is also a problem. It would seem to me the 7% would become even less (but I do not know since I don't have the stats). As Hydrogen says, there is also a social and cultural impact, which could be important to research even as they have economic values.

Thank you for taking the time to do this series on gambling. I think you've done a great job covering economic impact. Is there much to be said of cultural or societal impact? Gambling has been illegal in the USA while other nations typically have implemented far more lenient policies. Such could represent some of the deeper questions revolving around legalized gambling which most are hesitant to tackle.

Recently there have been some who have reportedlly utilized big data to win paydays @ fantasy sports games like fanduel and draftkings which could pave the way towards sports gambling becoming more algorithmically and computer driven. Interesting times to be alive for sure. I would be interested to know what betting odd spreads looked like pre internet era when it wasn't so easy to lookup bookie odds across different regions or platforms.

In this thread we have a lot of data regarding the economic impact of gambling. What conclusions would OP draw from these stats? Would he recommend or oppose gambling legalization? I think the general consensus is Donald Trump being a real estate mogul quietly supports gambling legalization in the US. Would decentralizing the centralized gambling of Las Vegas benefit the USA or is it better for it to be contained inside a relatively small geographic area of the country?

Well we all know as someone is getting disadvantaged, someone is getting the advantage and that brings me to the question of who has the greatest advantage in this whole picture  .

Yes in a way, it helps the economy but in another sense, how about those who are getting ruined in the process ?
I feel we are tending to overlook what it brings and discarding the number of people that is has turned penniless and a liability to the government itself unless of course the government is happy about that.

We keep saying how it helps the economy of a country, but in the real sense who are the ones that are indirectly losing out for the economy to keep increasing ?

These are the gambling addicts who spend all their last card trying to gamble, while some who are busy and ready to make themselves short of bucks for something that keeps increasing their blood pressure while the government and the casino owners keep making shit load of money and enjoying their own lives.

I had read the first one missed the second but as it always is this is awesome pure gold report I might say, he's like the knight fighting as a crusader to project gambling as I'm good light, I remember on my trip to Australia we had gambled a lot and had seen crazy amount of gamblers I had never seen before, I mean was not really expecting so much but now I can proudly say we the gamblers are the contributors to for the economic development of countries.

Yes, gambling has negative and positive affects on the living and the economy of a country. as discussed here the advantages of gambling which are very true about the gambling and its benefits but we should also look into the disadvantages so that we decide about its existence and legality. In many countries gambling is illegal and the only reason is its bad habits and disadvantages but legal in many other countries due to its advantages if affected people are ready to pay the price.

Honestly, this is just the plain truth but it seems some of us would just prefer to pain it all white and assume it is all about the mindset of the people gambling only. I have gambled for a while just to have the feelings of how people feel and even though I wanted to have fun without thinking or having the mindset of trying to win anything, at the end of the day, you just end up finding out there is not much fun in it until you start getting your blood hot, except you just want to blow away the money anyway.

If we are to count the number of individuals gambling has affected in a huge way, it is far more than those it has not affected and we keep saying it is worth celebrating.

I have never denied the fact that gambling comes with associated problems. Like any other industry, gambling industry has its pros and cons. But that's how the life is, black and white! Not everything is positive in life and not everything is negative in life. But that's the way of life. We all live with positive and negative aspects of life. But do we say that life is utterly bogus? No!

That's what I am trying to showcase. There are people who always de-frame the entire industry without looking at the positive side of it. That's what I feel is not correct and that mindset needs to be changed.

Well, you just reiterated everything the OP has said, but in this case, decided to summarize it.
Yes, gambling industry brings all these things, brings about job for some people and so is other investment as well, brings revenue to the government and so are other investments, and brings about tourism, that is even out of the picture as there are better ways to create tourism than gambling.

I feel we are looking for excuses to justify gambling, while we should be looking at those it affects negatively in quite a number of ways, but I guess that would be me diverting from the benefits to the huge disadvantage. A lot of things generate revenue for the government and the owners, as well as create tourism, without bring disadvantage to those who are making use of those things, which I am sure gambling knows how to do better.

I can see the main purpose is just to show us the reason why gambling makes a lot of sense where in reality, it actually brings more issue than the positivity some of us feel it creates.
 
I have traveled to so many places as a tourist to countries with beautiful architectures and places to have great fun, where I can enjoy myself and think productively without being detrimental to me. Furthermore, a lot of people including myself own businesses in my country in which the government get a lot of revenue from while creating services to other people as well as employment opportunities without bringing any form of demerit to customers or clients.

However, when it comes to gambling, it is more like robbing Peter to pay Paul and some of us are celebrating that?  

This only applies for each and individual gamblers but if there's a positive effect to the economy, there's also the opposite side of it.

We basically know the negative effects of gambling but only for individuals.

I haven't heard about that.

For sure there is.

What's on my mind is it only produces addicted people to gambling, there's also playing on my mind about making officials corrupt once they can't resist gambling.

Would it be possible to also add the negative effects of gambling? I mean I'm sure that there's a healthcare cost for treating gambling addicts?
Maybe there are other negative aspects that have a certain impact on the economy?

Its a give and take but I leaning towards the positive side of gambling specially in tourism and the jobs that it can give to the locals. I'm not aware that Australia is a gambling haven though, but I think that gambling has something to do with Australia being in the top 10-20 in the world economy. They even hosted Olympics which for me involves tons of money and I believed that gambling taxes has something to do with it. With that said, I would tend to agree that gambling industry can have a positive effect to a country's financial standings.