Bitcoin Forum

Even though sports gambling can some times face bettors with many challenges, it can equally help in boosting the economic situation of a country.For instance, some of these European countries like England, Spain, Italy etc have positioned themselves as a center for sports gambling, and thereby generating huge amount of money for the countries; and at the same time creating job opportunities through sports gambling.

Here are some of the ways sports betting can add value to the economy of a country.

In sports betting, the bettors or gamblers spend money in some of the activities they perform, such as subscribing to a betting platform, buying of tickets etc . The increase in these activities generates fund and boost the economy.

The government of a country generate revenue from various sporting activities and companies, such as collection of taxes and giving permits or license for the companies to operate, thereby generating revenues for the country.

Sports betting can add value to an economy by creating job opportunities. Many of this gambling companies creates job opportunities in different ways, ranging from bookmaking to customers assistance, and therefore reducing the rate of unemployment and boosting the country's economy.

However, sports betting is faced with many challenges and gamblers should be aware of these challenges and thread or gamble with caution.

However, your opinions are highly welcomed here

I'm not really sure how sports betting create more jobs or opportunities. If I get it right, there could be just a couple of betting shops, so only a teller is needed to function it normally taking bets. However, I will say that I have seen land base casinos having sports betting though but it's fully automated and it doesn't need a teller. There's not much of a challenge for us bettors, unless you are betting on a fly by night or illegal sports betting, whether online or offline. As for taxes, I don't know but sports bettors are not being tax in any kind and it's the casino itself.

To be honest, I don't know the numbers but I still think that sports betting or gambling isn't the major part of the economy in many developed countries. First of all, they do not employee many people because they don't need. Today it's very popular for companies to create a service like sportsbooks odds provider, slots provider and rent it to companies.

To be completely frank, the income received by sportsbook isn't the best income for the government because it's people's money after all and the government only receives 1/5 of it. It would be better if people were about to donate money directly instead of receiving money from getting taxes from sportsbooks or casino companies.

That's the truth.

It's one of the industries that is growing very fast, and I think every government should think about absorbing it. It cannot be stopped, another hard fact. What they can do is embrace it and put some regulation so that the government and the people who live in it will reap the rewards from taxes and different forms of payments that gambling will give.

About the gamblers, well, they are always told to gamble responsibly and I have said in many threads here in the forum many times, it's always a choice for us. We can gamble and be entertained or we don't and keep our innocence about it.

It generates huge profit which means they are paying taxes therefore they are helping the economy.

However, there’s always a disadvantage when it comes to the gambler itself since many can’t handle the addiction on betting. It depends on the country but in general the benefits outweighs the bad effects.

There’s a lot of local online sportsbook that popping on daily basis in proportion to the number of sports bettor in my country.

I thought you would mention Las Vegas as well, anyway, we cannot denied it that gambling has not been a source of revenue generation to some countries as well as how it has helped several gamblers earn a living by being employed in a gambling organization, while some made it to fortune after their experience of big win and they never get broke again in their life, apart from the generation of income to a country and individuals, it also being coexistence among the people and countries, as we know of Commonwealth games and others, which many countries has taken part to unit and integrate with each others for opportunities and development as a result of sport activities.

Which economy of which country? And, as gamblers, why should we even care about it... As crypto gamblers, do you really know where your favorite casino pays taxes, or do they even pay taxes? :)

In any case, let's boost the economy of a certain country... I have $50 to spare on sports betting. On what should we bet today? Can you give me a good tip so I can add value to the economy of my wallet, and not to some country's economy?

all industries have pros and cons anyway it is up to the government to weigh which one is the most valuable and see whether it is worth to keep and support the industry if most of their citizens were losing money and gambling is not helping their economy anyway they might decide to not support the industry

but i think gambling industry is always worth it if only they make the appropriate countermeasures to make sure their citizens do not end up in the wrong path

The tax alone that the government will collect already adds value to the country. Sure, it will create some jobs, but not a massive number since most of it is online now and machines are doing the work. Even support roles that used to be handled by humans are getting replaced by AI. So in terms of job creation, not much. But in terms of taxes, they can pay a lot because they can maximize their income, which means more tax to remit.

Normally a country do generate money from gambling companies and for it adds value to the countries economy more especially in developed countries, it is more of advantage to develop countries because the unemployment rate is low but it in developing countries despite the tax that is is being generated from gambling companies gambling is still seeing as a problems because people depends on it so much. Gambling addiction value to economy that is despite its negative effect the government cant completely put a stop to gambling.

Of course and that's why more casinos keeps coming, gambling firms in Europe are adding much to the coffers of government, the government makes a lot of revenue from them and there's nothing anyone will say to get the attention of the government in letting gambling firm go unless any of them are been investigated of fraud or shady activity and be any decision is taken to this effect, the government must investigate them thoroughly and be convinced that the committed to offense.

Going further to talk about the value of gambling economically, aside the developing countries you mentioned, many countries has started knowing the profit of gambling companies to their nations and soon the restrictions that are been placed in some country while visiting some gambling site will be lifted since the government now understand that even though they don't permit that, people can still break the barriers with VPN.

I don't know if it creates more jobs or not but I am sure that sportbet adds value to the economy based on the revenue generated from casinos. If the government is using this tax properly to develop the country, it's a plus to the economy. However, if the government pockets the taxes, it will add no value to the economy.

I feel that sportbet is ruining the lives of a lot of gamblers who are gambling for profit.

Not only governments get money from sports bets in form of taxes, but what most people don't know is that a part of the revenues from national lotteries are given to major leagues in some countries. For example in Spain, around a 1% of the income of these lotteries were given to "La Liga".

Sports gambling indeed is a byproduct of the nation's sports culture. The country that has the most followers of sports, they generally profit the most through sports gambling.
Here United States earns the most as it has some of the most competitive, televised, followed and gambled sports and most of those gamblers also comes form USA itself. In order not to let the gambling taxes slip, the enforce higher restriction for sports gambling platform to work in US and taxes them. They have created a large sports industry.
UK, Italy, Germany and France get their larger share thanks to the football culture there. Sports gambling has directly and indirectly helped nations spend more on sports infrastructure and promote sports. Some countries like Russia forces sports gambling platform to share some percentage of their revenue to local teams.

First off, I would like to correct the notion that betting is not a job.
It can be done for entertainment/fun or a means of fund raising so shouldn't be subjected under the canopy of creating job opportunities, maybe that could fall under specialist that make sure the activities of the gambling site is smooth and running.


Gambling has a positive impact on a country on the long run by bringing in foreign investors, sponsorship deals and the likes.
I believe the benefits could supercede the disadvantages with reference to self discipline and control on gambling habits to avoid addiction.

That’s why this can’t really be banned, it brings income to the government. It’s a billion-dollar industry, so imagine how much it brings in.

People will always find ways to entertain themselves anyway, and sports betting is just one of those outlets. As long as the government has proper regulations, it’s a win-win for everyone involved. What we have to do is make sure we’re responsible, understand the risks, and manage it well, so the government won’t feel the need to clamp down on it.

Gambling creating job opportunities is the lamest thing I've read on here today, what do you mean by that OP? Gambling business only favours the casino and also the country that allowed them to run, however way you choose to understand this, they are both making loads of money from the public.

---

They are selling us the shovel to dig up maybe we can find some gold, not the gold mine itself, I hope you can understand this better, gambling is not built to enrich or give job to the public, it is create to give  hope, a  chance to try your luck.

---

You would be so  dense to believe that this will help alot of people, because anything built on luck means that very limited numbers of people will make it and lot of people won't.

And you say that while advertising a casino in your signature?

The gambling industry involves many ancillary businesses. This is especially true of land-based gambling. Places like Las Vegas and Macau don't operate solely because greedy casinos fleece players. There is a whole tourism industry surrounding them, including hotels, musicians, shows, etc. Of course, that impact is much more reduced in online gambling.

In the specific case of sports betting, there is also room for a small percentage of bettors to be profitable in the long term. The alternative for regulators is to ban it, thereby driving all such betting underground, losing tax revenue, and creating insecurity for bettors, or to regulate it and collect taxes, thereby generating economic activity. All they have to do is do their job of regulation and oversight well.

Advantages and disadvantages, that's how the games has been for as long as I can remember, you can't just be stating out it's benefits when some of these benefits are actually non benefits, also some of your advantages were from sports and not from gambling so you shouldn't be mixing them up as all coming from gambling, and also while you can say that employment opportunities have been created, employments have also been lost because of irresponsible gambling because of employee negligence due to their gambling habits, and most of the boost that gambling brings to a country's economy comes from tourists and not the actual citizens of that country, most countries have laws in place to prevent to citizens from gambling too much because they understand how life wreaking gambling can be if not kept under control.

Croupiers, slot attendants, gaming manager, game dealer, slot technicians, can't be lame, these job opportunities serve families and adds revenue to the government through taxes. The wrong side is assuming whether the gamers are of the opportunity Op wrote on his thread.

I see it as a form of entertainment and entertainment industry is huge. People who like gamble don’t only spend money on bets, they also purchase the side dishes. They watch live games, buy snacks, official team products, clothing etc. Gambling doubles or triples the ongoing fun. It is sad that some countries don’t see it that way and want to strangle casinos but little they know that if they do it, these people won’t stop gambling, they’ll just move to somewhere else where they can gamble freely. I mean this product is good, people just can’t have enough of it, why stop people? Maybe put some extra tax on it if you want a piece from the action but that’s still not necessary as those big companies already pay their taxes. Ban gambling? We need to teach gambling in colleges. I wish i was  graduated from gambling engineering. Would be the banger

I'll give you an example of what happens in my country:

Here in my country, betting companies have websites and physical offices, so in each neighborhood they have employees to assist customers. They call them ticket sales points and customer service centers. This shortens the distance for people who live far from the city when they want to complain about the company. This is creating jobs because the sports betting company also has marketing employees who are out on the streets advertising the sports betting company. I think it's a way of providing employment.

There is no doubt that the sports gambling industry can improve the national and international economy equally, it cannot be denied that many sports gambling industries, even though they are illegal, the government still protects them secretly, This is one proof that the sports gambling industry is a real benefit for the government as a whole, it is an open secret about the government's behavior towards the sports gambling industry.

One of the most prominent economics for the government is in terms of taxes, other industries may have high taxes that could have an impact on society at large, such as the cigarette and product industry, So the taxes imposed are also limited, but not for the sports betting industry, they will pay high taxes, as long as they can be safe and operate freely, that's one of them.

If everyone gambled legally instead of going offshore, it would definitely generate massive tax revenue for the government.This money could be used to improve public services or to treat addicted gamblers. You know,  regulated betting in Europe is generating a lot of money. Also keep in mind, the betting industry is not just about punters, it is also creating jobs in technology, customer service &  retail. In the UK, betting companies generated an economic value of 6.8 billion pound last year

However, there is another side to consider, yes, there are real risks, addiction, social harm &  if the process goes the other way, an opportunity for unregulated black market betting. So I think, it is not just a win win situation. The government should take adequate measures to protect the strong players with user friendly rules &   regulations

Sports gambling does have an economic impact, it creates jobs, boosts viewership, and drives revenue for teams, leagues, and casinos. For bettors, the value comes from entertainment plus the challenge of finding good odds. Still, the house edge means most money flows back to operators long-term.

In the case of the economy that you have raised in the case of gambling, the government of a country may prosper through its income but the people of that country may fall into financial difficulties due to gambling. Gambling can never provide employment to any person and gambling can never be a way of earning for one. No one can ever give you the guarantee of winning in gambling. You can lose at any time while gambling and what if you gamble ten times a day i.e. bet 10 times and lose 10 times. Where there is no guarantee of winning money, it can never be a way of earning for a person. That is why people are told to gamble using only your discretionary income.

If legal gambling will be a high income for the country because seeing that the turnover of money in gambling is very large,
of course the taxes generated will be comparable.

The economic value of sports gambling is of great value because there are many sponsors in the speak ball game,
there are more products coming in, and users in online casinos also make more bets.

So it is not surprising that it will generate a large tax profit because indeed sports betting is the most profitable evet.

Just like other industries too which are contributing to the economic growth of a country, that's how generally, gambling also contributes too, the government are taxi gambling operators and the different gambling companies combined, are paying a massive amount to the government as tax, in those countries where gamblers are also taxed, all the tax from gamblers and the operating companies is really a massive amount. The employment that all those casinos and sportbooks are offering is helping create job opportunity, which in the little way that they are contributing, it's also helping the economy.

Gambling, like any other industry, has its positive and negative aspects. The point is that regards gambling, the focus from society is destined to the negative aspects, so hardly ever you hear about its positive impact over the economy.

Gambling has potential to create jobs spots, to raise touristic interest for a determined city or region, and even to generate an income for the government through taxes.

And all you have to do in order to have access to the benefits of gambling is to not become a degenerate, addicted player. You can be directly or indirectly benefited economically. Directly, if you work for the industry, or indirectly, if the local economy is being boosted by the industry (through tourism, for an example).

for me sports gambling really has both positive and negative sides but no doubt it contributes something to the economy when properly regulated. Right there are many countries that treat sports betting as a legit industry because of that there are so many revenue enters through taxes, licensing and even tourism plus thousands of jobs also are developing from customer support to data analysts, marketing & etc. Here in our country people spend on betting platforms, subscriptions and tickets & all those small transactions contribute to economic activity as long as the government ensures fair regulation and proper tax collection it can really help boost national revenu but of course gambling still comes with risks there are many affected as well so much  if they don’t know how to control so I agree bettors should always gamble responsibly & be aware of the possible downsides.

Sports betting is a huge business and, whether you like it or not, it ends up being part of a country's economy. In places like England or Spain, it's not uncommon to see betting companies sponsoring football teams, appearing on jerseys, and even having a presence in stadiums. This means they not only move money among the players but also become deeply involved in the sports industry and advertising.

It's true that gambling can give value to the economy and also create job opportunities, but it still depends on the country. In developed countries, as you mentioned, the number of unemployed is low, so with the opportunities of betting companies, it is sure to give these value. Another thing is, considering the rate of taxes being paid to the government, it's already adding value to them. This is the reason most of these countries can't do away with gambling, knowing the benefits they get, neglecting the effect of it as an addiction on their youths. But when it involves some of these countries where unemployment is at its highest rate, gambling can't give any valuable opportunity because the employment rate is low, they barely take people. So, to my little knowledge, this doesn't work in every country.

There's nothing in life that doesn't come with its own challenges. Everything does. The difference may be in the gravity of their challenges. Gambling activities shouldn't be an isolation of this fact.

It's true that gambling outfits do provide employment as there are staffers to run them but we can't classify this as a big sector of employment. Invariably therefore, we can also include them as revenue sources for government through taxation. However, the major highlight for gambling outfits is the source of engagement and relaxation they afford gamblers. That moment when gamblers converge (for offline bettors) or engaged (for online bettors) provides momentary release from burdens and life's reality. Sometimes breakthrough can come from that too.

I think this is looking at this situation the wrong way around - these countries have big betting scenes because a) they've got some pretty well developed sports organizations that are often playing at the highest level around the world and b) they have fairly liberal and welcoming laws surrounding gambling, so they are not especially punitive to betting related companies. This has the added benefit of raising tax revenue locally instead of pushing all the money that people spend on sports betting into the hands of foreign companies. Plus it means they have greater visibility of money passing through betting sites which can sometimes detect criminal activity.

If a country is generating more revenue from the tax collection from casinos means the casinos in the country is generating more profit, which implies that people in the country is losing more money. So how is that helping the economy? :P

There are very few places in the world attract people from different country just to gamble in a specific location and in other cases it's just their citizens.

"However" must be one of your favorite English word 😁

Anyways, whatever activities people engage themselves in surely carries some economic advantages which if well planned and maintained could be turned into a very good source of income to the government of that city, and its good you are talking about gambling and how it helps boost economies around the world.

The gambling industry is a multiple billion dollars industry, and there is no way an activity which such a huge stats won't be beneficial to the government if only they will know how to cut their onion, gambling creates jobs, generally employing millions of people across the globe and thereby (like you said before) significantly reduce the number of unemployed persons across a country.
And regardless of the challenges in betting, what is very important is ensuring that you are always playing with an amount you can comfortably afford to let go if lost, this is how to do will in gambling..

Your right gambling can also be an be used as a source of getting a better economy, by jobs creation, tourism and hospitality etc.
But the point I want to make is that even as government benefits from it, it should also be regulated, not all countries accept gambling because of the bad side of it, ( criminal activity, increased addiction, fraud etc), but those countries that benefit from it should also keep it regulated and secured. I have heard of gamblers that won a huge amount of money but did not go back home with it.
So even as government gains from it they should also secure and maintain it for gamblers.

Sports betting now generates a lot of revenue, which means they have no shortage of funds to spend on advertising. Sports betting companies are spending huge amounts of money on the world's major sports leagues to expand their companies even further. This industry is a growing one, with more big players investing in it. And governments in countries where sports betting is legal are now also receiving huge amounts of revenue from sports betting. So sports gambling is now making a lot of economic impact, and since it is still a growing industry, it is becoming more and more attractive.

The gambling industry is a large one, with casinos setting up branches across different states in the country. There are also a great number of online casinos. Surely you will agree with me that manpower is required to keep these services running and that is how the gambling industry provides employment.

As long as gambling is taxed in a particular location, then it is surely contributing to their economy through taxation. And taxes generated from gambling can be used towards infrastructure and local development.

There are many reasons casinos exist, and it's not just about sports gambling. It's about generating money to help the economy, and a lot of people have mentioned it here already. I'm curious about how much, per country, it affects foreigners or tourism within the country. I know there are countries known for gambling, but up to what much? I think knowing that could help understand the economic value of casinos or gambling in general.

I believe that betting can contribute to the economy in a certain way. In my country, gamblers winnings are taxed at 15%, and casinos at 12% on gross income (they are trying to increase the rate to 18% or 24%). If this revenue were directed to the Ministry of Sports here in Brazil, it could be used for investments in infrastructure such as gyms, soccer schools, and athlete training. Many lives are saved through sports, as practicing them keeps many young people away from drugs and trafficking, and allows for a more dignified future for a large part of the underprivileged population who see sports as an opportunity to change their lives.