SOCIAL AND ECONOMIC IMPACT OF GAMBLING Part 1
Kiosfreebet – As the evolution of gambling reveals the movement of gambling from one place to the other, it is absolutely certain that there must be a reason for its growth and development, and it’s acceptance or refusal in the society. The impacts of gambling in the society is beyond fun and entertainment, or just money making, it’s affect every system in a society. As the saying says that “there are two sides to a coin”, meaning that everything that has its advantages will surely has its disadvantages, this article stands to give us a concise account of the positive and negative influence of every form of gambling in the society that is the social and economic impact of the smallest betting on animal fight to the interesting game of Poker online.
ECONOMIC IMPACTS OF GAMBLING IN THE SOCIETY.
The economic impacts of gambling are those various ways that gambling influence the trade and development of wealth of a community or a country at large.
1. Government Revenue.
Gambling is a great source of wealth to the government of a country, and this is the reason the government of some countries like the united kingdom cannot place a ban on gambling in their country. There are two different ways by which government can gain revenue through gambling, these ways are through taxes and by directly investing in the gamble industries.
The first one is by taxing gambling activities in the country, the taxes include a fixed amount to be paid by casinos running in the country, percentage of every winning player gains on every physical and casino online games. The second way is by providing gambling services in their states or country, this is when government build casino houses or host a gambling tournaments in their country to gain more revenue, this method will bring more revenue than the later as much percentage or virtually all the profits belongs to the government, an example of this is Canada establishing her internet casino website in 2004. Going by statistics the amount of revenue realized by government in the year 1998 is $800 million and increased progressively to $21 billion in 2008, meaning that governments tends to earn huge revenue from gambling yearly.
2. Public services and infrastructural facilities.
The government use the revenue gained from gambling activities to provide the public with essential services such as public health services, security, and affordable education. The revenue realized from gambling can also be used to subsidize the price of fuel, pay government debt and provide the necessities of man such as good pipe-borne water, constant electricity supply e.t.c. Yale and Harvard university are few of the infrastructural facilities built with gambling revenue.
Apart from using the revenue to provide basic amenities in the country, the increase in numbers of casinos in a society can call for the development of the area, as tourist are moving into the community more services and infrastructural amenities would be demanded such as Hotels, recreational and tourist centers, good roads and many more. However the impact of online gambling are not much visible in this area, as less amenities is required to facilitate this service, hence little or no amenities is developed with era of casino online.
3. Personal income.
Gambling can be a source of income to some people, as some players have become wealthy by playing Slot online, sport betting or any gambling games. However, apart from winnings, non gambling players were also benefiting from the gains derive from gambling. Like the American people will say that “what goes around comes around”, this principle also applies to gambling in the sense that money are distributed to every other sector of the society.
The impact of gambling in the society could either increase or decrease the personal income of every individual in the society. Decrease in the sense that, more money, investment, and attention will be diverted into the gambling business while other business that is not in any way related to the gambling activities suffers.
4. Cost of managing gambling activities in the society.
The cost of gambling management in a country could be burdensome on the government most especially when the business is being controlled by the private enterprises, this is because the government will bear all the costs to regulate and manage gambling. The expenses include the cost of strengthening the security system of the state, as it is certain that gambling activities will also increase the rate of crime in the country, therefore the country must have put every measure in place to tackle the sudden rise in criminal act. The government also has to set up some regulating bodies that will make sure that all players of Poker online, slots, sports betting are paid and none of the gambling laws are violated.
Digressing to the issue of infrastructural facilities, the country has to set aside a huge amount of money to maintain the infrastructural facilities in the country. As much tourists are visiting the states, so also there will be need to maintain the road, deal with the increase in the refuse and sewage products and furthermore there will be need for a larger parking lots.
Gambling greatly influence the businesses in the community; meaning that it is going to favour some business while some are going to suffer great loss. The legalisation of gambling business in a state will welcome the establishment of new businesses such as Hotels, amusement parks, relaxation centers, and museums for the entertainment of tourist from overseas and abroad. If you have ever traveled to a country like Las Vegas, you would notice that there are hotels and restaurants from Street to street, in fact some casinos provide additional services for their customers.
Meanwhile, the rise in gambling activities in a country may cause local hotels to suffer the loss if they do not meet up to the standard of accommodation provided by the casinos hotels, also the residence of a country may love to play Slot online in an international casino website which may bring loss to the local country after investing much capital to providing gambling services to her citizens.