Gambling as an effective mechanism for stimulating the country's economy.

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Igor G

Igor G

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It is difficult to imagine, but the construction of the Great Wall of China was partially financed by revenues from gambling, in particular lotteries. Gambling can be a mechanism for improving the lives of society if this sphere is properly regulated at the state level.
Share your thoughts on this topic.
 
I have lived my whole life in a country where gambling is fully state regulated.
Sure, something good have come out of it. For example, some of the profits is given to arts, sports, and science, and some is used to support smaller groups that work for the "common good". But the organization itself has grown to be a big fat milking cow that no longer serves its purpose well enough. So even after many decades my country is slowly moving towards the licencing model and free competition in the gambling sector.
 
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The problem is casino gambling often acts as a tax on the people that cannot afford it.

If you look at something like lotto tickets, low income individuals spend 33x more than high income individuals as a percent of their income.
 
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That is true in some areas and false in others. For example, gambling is legalized and a big source of tax revenue in Europe and America. But it is illegal in most Asian countries. Why? Because people's personalities are different in each place. Europeans and Americans are more rational when gambling, of course there are still some people who are addicted to gambling. But it would be a disaster if gambling was legalized in Asia because Asian people have an unimaginable intensity when it comes to gambling. They cannot control their thoughts and actions. If they are allowed to gamble freely, it is like giving them drugs.
That is why most Asian governments ban gambling.
 
No I don't really believe in that theory that can bring can help the economy. It wored maybe there in China for once but they probably created tons of gambling addicts with it.
 
Though the gambling industry could eventually ruin a certain number of people's lives, its benefits overall can be more significant. Besides creating a certain number of jobs, it can also create more traffic around it, thus helping other businesses to grow as well as the local economic situation in general.
 
I think social problems related to gambling are worse than the benefits it provides
 
I would say that gambling benefits mostly the rich , that's why many rich people like casinos , sports betting businesses , cause they make a lot of money from poor people who lose their fortunes there . Do they invest sth back , give back sth to the people I don't think so . So I don't believe in the social contribution of gambling .
 
in theory yeah, state regulated gambling brings in huge tax revenue. but in reality half that money gets lost in government bureaucracy and the state ends up spending millions later dealing with gambling addiction costs and social programs 💀 double edged sword for sure.
 
Gambling generates direct budget revenues. In addition, gambling allows the development of related industries, such as the hotel and restaurant business, tourism, and various services. In part, gambling attracts investments in IT and stimulates software development. And another very important factor, gambling stimulates the creation of new jobs. But of course, all this becomes possible only under strict state regulation.
 
I can see how regulated gambling can bring tax revenue and jobs, but I don’t think it should be treated as a guaranteed economic solution. The social costs need to be considered too.
 
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