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Legalized Online Casinos – The Social and Economic Repercussion of Gambling

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Recent reports suggest that over the last two decades casinos have become a major industry in the United States. Before the 1980s, gambling in casinos was only legal in states like Atlantic City, Nevada, and New Jersey. But since then, approximately 30 states have legitimized casino gambling. There are numerous states that have approved of commercial gambling mainly because they consider it as a tool for economic development. As per the American Gaming Association, now there are nearly 1000 commercial and tribal casinos within our country. Not only that, there are even plans to expand gambling in other states too. Massachusetts is one of those interesting cases where voters are thinking of measures to reverse legalization of casinos.

Almost everyone is entitled to give their opinions about gambling as it is one of those inescapable facts of life. Both economists and sociologists argue about it and it is indeed a very polarizing subject. But it need not get this hype anymore! People love betting and they will do so irrespective of the fact whether it is legal or not. Illegal casinos are clearly more harmful pastime than legal gambling. Under the careful supervision of state regulation, casinos can also be made safe and fair for the player as they create jobs, bring in lot of taxes and boost the income of a state. In a nutshell, the benefits of online gambling outweigh the cons and this article will speak about some positive and negative aspects of legalized gambling.

Does online gambling tarnish the state’s economy?

The reason behind this topic becoming a debate is because a respected and well-known economist once published in one of his most controversial papers writing against the common rules of gambling. He claimed that casinos don’t trade services and goods but only trade money and hence it can have no stimulus for the economy.

Don’t you think this statement sounds like it has been written by someone who has spent a long time in heavy textbooks, having no time to take a look at the bigger picture? Casinos definitely offer a huge boost to the economy of a state and a country. Let’s check out how.

If only you take a look at the monarchy in England, the people never make the country a penny by selling off services but still the entire country pays taxes to keep them wealthy and sustained. Why is this? This is due to the tourism that they bring in and the cultural values that are associated with it. People usually flock to the land of the British in order to get the full British experience.

Increased tourism will mean more money for the local areas

Just as online casinos pump in new money into the area, they also attract tourism from all over the globe and create jobs for the local community. The money that is earned by the otherwise unemployed workers is then spent in the local businesses. The gamblers don’t just visit casinos to trade money – this form of empty trade is what the banks do. Although it was the banks which were actually responsible for the financial crash, they are still considered legal and on the other hand, casinos have earned the bad reputation. People go to casinos not only to bet but to buy drinks, have costly dinners, to socialize and also to stay in the local hotels. It often helps them create a total holiday experience.

Could this trend turn out to be unhealthy for the local businesses?

There are some who claim that casinos hurt the small business environment as nowadays casinos have been developed within complexes with their personal restaurants, hotels, and shopping malls. Instead of spending money at the bakers and local butchers, people spend their dollars in casinos and this might force the small business owners to close down.

To be frank, this has no relation with legalization of gambling and that too with the present state of the US and other countries which are being overpowered by big businesses. After Wal-Mart moves into town, how many small businesses will be left? So, is it right to blame casinos for the small business closure? This seems to be an issue which needs to be regulated by the state and has got nothing to do with gambling.

Online casino gambling and its potential benefits

In those countries where online gambling is legal there is a huge online community who literally thrive on this profession. Since gambling has international standards, there are more regulations on the sites. Online sites related to gambling have to go through strict moderations and pass rigorous regulations in order to get them accepted. This keeps the game fair, random and doesn’t lead to exploitation. On the other hand, there are disreputable sites too and they’re literally dangerous for the users as they end up losing a huge amount of their untaxed dollars.

Addiction to gambling – can this bar legalization?

This is definitely a controversial matter as there are some people who gradually get addicted to gambling. Such individuals who are afflicted with this addiction gamble throughout the day, so much so that their personal and professional lives are hampered severely. Sadly enough, where gambling has so many advantages, it is bound to have some disadvantages too. Gambling addiction can lead to an increase in crime as the casino addicts often take resort to stealing and robbery in order to keep funding their habit. However, that doesn’t call for stopping all legalizations as when does making something illegal stop anyone with an addiction?

Hence, we can conclude by mentioning that gambling is a form of entertainment which is a harmless activity that has many benefits for the society, economy and for the player. In those states and countries where gambling is illegal, people suffer from lack of support. This is why legalized gambling protects all citizens and creates a fun and safe environment for the people to play.

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