Economic Costs of Gambling

[Fredomago]

The problem with the things that you pointed out is that you are treating gambling like a single entity in society when in fact it should be part of one whole that completes everything. If there's an epidemic in depression, improving the mental healthcare is the biggest solution to that, crimes can be resolved by giving unemployed people jobs so they don't get desperate and if that doesn't solve it, a police force that is formidable and efficient and have integrity can do the work.

Gambling is part of society even before our ancestors comes to live , meaning that this must be depend on how we treated and how we managed our activities.
saving funds for gambling as an extra amount is what we must do and not to spend more than that.

Allocating your spare money and make sure that you'll not going to exceed will avoid you to face any problem in the long run knowing that the money you use are easy to let go,

Keep yourself busy with the things that already program inside you and not to add gambling as part of it, but instead treat gambling as part of your entertainment the same way you treat things out when you are allocating your money to buy something either your favorite food or things that you spent your extra money.

[DarkDays]

The problem with the things that you pointed out is that you are treating gambling like a single entity in society when in fact it should be part of one whole that completes everything. If there's an epidemic in depression, improving the mental healthcare is the biggest solution to that, crimes can be resolved by giving unemployed people jobs so they don't get desperate and if that doesn't solve it, a police force that is formidable and efficient and have integrity can do the work.

What do you mean by that exactly? Gambling should be part of one whole that completes everything? I cannot see any reason why gambling should complete anything. You are arguing that gambling is improving the mental health care? Are you serious about this?

Gambling is an addiction right? So was with any addiction not being able to perform will lead to stress, anxiety and mental distress, so being able to treat ones gambling otherwise could lead to mental calmness. I think this is the point that @Obito is trying to put across.

I'm not at all saying that gambling is good but if not regulated well (which has been the case for many decades) then people not being able to gamble and then feed into their addiction could to do more dangerous acts, frowned upon by society.

So is there an economic cost to gambling, I say it depends on the argument you could find reasons for both sides.

[mv1986]

The problem with the things that you pointed out is that you are treating gambling like a single entity in society when in fact it should be part of one whole that completes everything. If there's an epidemic in depression, improving the mental healthcare is the biggest solution to that, crimes can be resolved by giving unemployed people jobs so they don't get desperate and if that doesn't solve it, a police force that is formidable and efficient and have integrity can do the work.

What do you mean by that exactly? Gambling should be part of one whole that completes everything? I cannot see any reason why gambling should complete anything. You are arguing that gambling is improving the mental health care? Are you serious about this?

Gambling is an addiction right? So was with any addiction not being able to perform will lead to stress, anxiety and mental distress, so being able to treat ones gambling otherwise could lead to mental calmness. I think this is the point that @Obito is trying to put across.

I'm not at all saying that gambling is good but if not regulated well (which has been the case for many decades) then people not being able to gamble and then feed into their addiction could to do more dangerous acts, frowned upon by society.

So is there an economic cost to gambling, I say it depends on the argument you could find reasons for both sides.

Yes, but gambling from a revenue perspective remains a zero sum game between the casino and the players (leave out the edge if you will). I think we fail the time we spend gambling with something that is really beneficial to society. Imagine you would build great products or provide helpful services to people who are in need. It is not like we send our winnings to charity, and even then someone is worse off for you being better off.

It is similar with alcohol and its role in our society. Cannabis is at least used for medical treatment, alcohol is not. Yet it plays such a big role and I bet if you ask a beer brewer he will argue that beer is important and gives us pleasure. But does it really? Wouldn't we as human beings just be incentivized to find other pleasurable activities and things if we didn't know drugs and alcohol exist? I am pretty sure we would.

[carlfebz2]

The problem with the things that you pointed out is that you are treating gambling like a single entity in society when in fact it should be part of one whole that completes everything. If there's an epidemic in depression, improving the mental healthcare is the biggest solution to that, crimes can be resolved by giving unemployed people jobs so they don't get desperate and if that doesn't solve it, a police force that is formidable and efficient and have integrity can do the work.

Gambling is part of society even before our ancestors comes to live , meaning that this must be depend on how we treated and how we managed our activities.
saving funds for gambling as an extra amount is what we must do and not to spend more than that.

Allocating your spare money and make sure that you'll not going to exceed will avoid you to face any problem in the long run knowing that the money you use are easy to let go,

Keep yourself busy with the things that already program inside you and not to add gambling as part of it, but instead treat gambling as part of your entertainment the same way you treat things out when you are allocating your money to buy something either your favorite food or things that you spent your extra money.

Easy to say but when you are on the actual situation then this is where story begins to go different because even ourselves cant really be sure if we can do this if we are on the situation on where we do get addicted to gambling.

Of course where control is really a main thing but it depends on strong self will and awareness of your actions will really be the key on avoiding such possible unfortunate events that might happen.

You wont get addicted if you wont be chasing losses and wont be chasing on making easy money with gambling.

[just_Alice]

1. Gambling in fact has many negative externalities. If someone gets addicted, the likelihood is much higher to be depressed. Depression is factor, which leads to high costs for the society.

2. Gambling addiction leads to economic costs because of crime actions. Other market actors have to increase their security standards, which means higher costs.

3. Many gambling addicts go as a consequence to jail. Jail means EXTREMELY high costs to society.

What are your thoughts on this topic?

Unfortunately, government do not look at this kind of stat they are more looking at the revenue they can collect from the taxes they impose on these casinos and from their workers and from companies that are associated with gambling casinos, they allocate a small portion of funds from the victims of gambling and they still have a big chunk of the revenues

Look at it this way: the people that gamble are gonna gamble one way or another, only if this business isn't legalized it will all be black market. Thus, uncontrollable and bringing no revenue to the government, but still running and having only a negative impact on the economy.

While legislation not only will bring money but also the possibility for the government to create statistics regarding gambling, truly evaluate the positive and negative effects, propose proper programs to deal with serious cases of addiction (that can be funded by that very revenue), not to mention the fact that this will reduce the risks of people getting involved with criminal groups that might run gambling underground.

If we look from your perspective, then it would be logical to assume that alcohol, cigarettes, nightclubs, etc. should be banned as well, as they bring in chaos, deteriorate public health, and overall can have a bad impact on society and economics, but we're past those times for the aforementioned reasons.

P.S. The term "victims of gambling" is clearly exaggerated, it's not that people are forced into gambling, people choose it themselves because it's fun and entertaining.

[BTCLiz]

1. Gambling in fact has many negative externalities. If someone gets addicted, the likelihood is much higher to be depressed. Depression is factor, which leads to high costs for the society.

2. Gambling addiction leads to economic costs because of crime actions. Other market actors have to increase their security standards, which means higher costs.

3. Many gambling addicts go as a consequence to jail. Jail means EXTREMELY high costs to society.

What are your thoughts on this topic?

Unfortunately, government do not look at this kind of stat they are more looking at the revenue they can collect from the taxes they impose on these casinos and from their workers and from companies that are associated with gambling casinos, they allocate a small portion of funds from the victims of gambling and they still have a big chunk of the revenues

Look at it this way: the people that gamble are gonna gamble one way or another, only if this business isn't legalized it will all be black market. Thus, uncontrollable and bringing no revenue to the government, but still running and having only a negative impact on the economy.

While legislation not only will bring money but also the possibility for the government to create statistics regarding gambling, truly evaluate the positive and negative effects, propose proper programs to deal with serious cases of addiction (that can be funded by that very revenue), not to mention the fact that this will reduce the risks of people getting involved with criminal groups that might run gambling underground.

If we look from your perspective, then it would be logical to assume that alcohol, cigarettes, nightclubs, etc. should be banned as well, as they bring in chaos, deteriorate public health, and overall can have a bad impact on society and economics, but we're past those times for the aforementioned reasons.

P.S. The term "victims of gambling" is clearly exaggerated, it's not that people are forced into gambling, people choose it themselves because it's fun and entertaining.

I really like your point of view that we have to count into the effects from people not participatinng in criminal (non-legal) gambling groups. This would be super hard to estimate but I suppose we already have in this thread the right amount to write a dissertation about the economic costsog gambling.

[AicecreaME]

Gambling addictions are one of the extremes of gambling. The thing is this doesn't happen as much as we think it does because not everyone will have the money to fund themselves to addiction. Lotteries on the other hand do our governments' a favor thru funding and taxation. So these economic setbacks you're talking about should be counteracted by these measures.

Gambling addiction doesn't mean that you have to spent a lot in gambling. Addiction means you can't stop yourself betting, even with the small amount, every single day. Lotteries do pay tax to the Government indeed, but that doesn't mean people will stop betting on lotteries, which in fact doesn't make anything at all except the Government taking this advantage to fund their economy using these taxes.

It's a win win situation somehow, but gambling really have a negative impact to those unfortunates who are risking their money in gambling hoping to get something big.

[pawanjain]

The gambling casinos/websites earn a good amount of profits and hence have to pay more tax
The money received from tax is then again used for the welfare of the country.
But yeah, we can still debate with the fact that many casinos dont pay their taxes and many countries don't use the tax properly for the welfare of the country

The best question is , How much does the taxes helping the economy than the amount losses from the players?

That can never be found out because every country has their own rules and regulations and most of the countries have corrupt people everywhere.
Corruption can go to any extent which is why it's hard to know how much money is actually flowing into the welfare of the economy.
Unless these governments use blockchain system to publicize the taxations there will be no way to know the truth.

It is true that this is impossible to measure since there is simply too much information that is completely unknown to us, but at the same time this is not the only way to measure things, do we really want to live in a county that goes out of their way to regulate behavior that in its nature is not criminal? Basically do we want the government to tell us what to do and what not to do in our free time and to allow them to decide in what do we spend our money? And I certainly do not want that.

Basically, every human being does not like to be controlled by anyone. Therefore, we often see violations around us, as well as related to gambling.
Many people feel uncomfortable if the government interferes too much with activities that are indeed entertainment, such as gambling.
But the government needs to make regulations regarding gambling, because gambling has the potential to cause negative things if left free.
Because not everyone is able to control their emotions and behavior well when playing gambling,  so I admit that there needs to be rules from
the government for gambling. As long as these regulations do not interfere with our comfort in gambling, and prevent bad things from happening
we should obey the rules applied by the government.

What you say is actually correct. Even I am more interested in being independent and free but as you say not everything should be left free and unregulated.
Gambling does have negative effects and so does many other things and it is for our best interest that everything is regulated by the governent.
But sometimes the governments take control of certain things which is wrong. This is where things tend to get messed up.
What is right for one might seem wrong to other and sometimes the government use such opportunities for their own benefits.

[just_Alice]

Gambling does have negative effects and so does many other things and it is for our best interest that everything is regulated by the governent.
But sometimes the governments take control of certain things which is wrong. This is where things tend to get messed up.
What is right for one might seem wrong to other and sometimes the government use such opportunities for their own benefits.

There's something in it, but, on the other hand, there are far worse things that the government ought to regulate in order to secure the population, for that matter: gunfire, unsafe driving under the effect of alcohol - these things are the current problems in the society, as well as suicides, which are pretty high in the causes of death ranking.

At the same time, the government can't control everything, it's not like they're your parents, their main function is to ensure the overall safety, but not dictate how you should entertain yourself and what are the possible consequences. The grownups should be mature enough to decide such things themselves, and for children, of course, it should be prohibited.

[KTChampions]

There's something in it, but, on the other hand, there are far worse things that the government ought to regulate in order to secure the population, for that matter: gunfire, unsafe driving under the effect of alcohol - these things are the current problems in the society, as well as suicides, which are pretty high in the causes of death ranking.

At the same time, the government can't control everything, it's not like they're your parents, their main function is to ensure the overall safety, but not dictate how you should entertain yourself and what are the possible consequences. The grownups should be mature enough to decide such things themselves, and for children, of course, it should be prohibited.

As soon as the government begins to control something "for the good of the person," then in the end the government only gets more power, and for this person it becomes worse and worse. This has already been verified many times. I am for less regulation and for greater human rights - if this does not affect anyone except him, then he has the right to do even those things that (in the opinion of others) will be harmful to him.

[johhnyUA]

Gambling is becoming popular because people have no global purpose in life. 

In the 19th century, people believed in endless scientific and technological progress.  However, the First World War showed that technological progress can serve not only the cause of good, but also of evil. 

In the 20th century, people have a new global goal - space exploration.  However, by the beginning of the 20th century, space exploration projects were curtailed.

Instead, the Internet and the virtual space began to develop.  However, the internet is just chatter.  People are disappointed. 

Therefore, they began to actively seek excitement and drive in gambling.

This is totally wrong. Gambling was popular since pre historic times. When people started to engrave symbols on bones and start to throw it - gambling become popular ))

So your conclusions not correct at all.

[FatFork]

Gambling is becoming popular because people have no global purpose in life.  

In the 19th century, people believed in endless scientific and technological progress.  However, the First World War showed that technological progress can serve not only the cause of good, but also of evil.  

In the 20th century, people have a new global goal - space exploration.  However, by the beginning of the 20th century, space exploration projects were curtailed.

Instead, the Internet and the virtual space began to develop.  However, the internet is just chatter.  People are disappointed.  

Therefore, they began to actively seek excitement and drive in gambling.

This is totally wrong. Gambling was popular since pre historic times. When people started to engrave symbols on bones and start to throw it - gambling become popular ))

So your conclusions not correct at all.

Right. Gambling was very popular in ancient Rome (it is even mentioned in the Bible several times) and even among the ancient Greeks, and it was most likely known well before that. Some would go as far as to say that gambling was an integral part of how society was organized and governed. However, gambling was also viewed as a sinful vice by Christians and the Church (and this feeling didn't diminish much to this day), and therefore forbidden by law. They thought this should have put an end to the games. But it didn't. Gambling games continued to be played throughout the Middle Ages, and into the modern period.

Hence, to say that gambling is more popular in our time than it has been in the past is wrong since there is no standardized method of comparison as far as I know. Of course, with the prevalence of the Internet, gambling has become much more accessible to the general public.

[passwordnow]

If people like to gamble, they will search for money, even if they need to borrow from other people to fills their wanting to play gambling. We do not know how they can do that, but for them, that will not too hard as they can search for other people and get that money.

They can do that because they've already resorted to a solution just to fulfill their gambling needs.

But the lottery is one of the gambling games. Sometimes, people do not realize that lottery is a gambling game instead will buy the ticket to win some prizes.

They know it that it's a game and they're putting their money with the hope to win even if it's going to take them years before they win. There's an economic impact with the lottery because some of the proceeds if there's no winner are going to charities or to the fund of the government. But for those people that used to bet on the lottery, it already became part of their lives.

[Ryker1]

The problem with the things that you pointed out is that you are treating gambling like a single entity in society when in fact it should be part of one whole that completes everything. If there's an epidemic in depression, improving the mental healthcare is the biggest solution to that, crimes can be resolved by giving unemployed people jobs so they don't get desperate and if that doesn't solve it, a police force that is formidable and efficient and have integrity can do the work.

What do you mean by that exactly? Gambling should be part of one whole that completes everything? I cannot see any reason why gambling should complete anything. You are arguing that gambling is improving the mental health care? Are you serious about this?

Well, perhaps he meant that it could be nice if the government will improve mental health care against gambling and resolved unemployed people because that is perhaps the reason why people keep addicting to gambling. But the fact is, --this is not a right solution, we should start from discipline and make them oriented at all time that the more you gamble the more you will possibly get addicted to gambling. Limit yourself in gambling and you are fine, we should have take responsibility of ourselves not to involve in addiction, we are fully oriented here in the forum compared to gamblers outside.

[Lanatsa]

Few governments realize that but the majority of the government knows that there are revenues, taxes and employment in the casino industry, this is a billion-dollar industry, and they employ millions of people and many companies worked and supply materials to the casinos, and those things you've mentioned are the collateral damages but not enough for government to stop the operations of gambling.

Gambling is indeed a multi billion dollar industry and its no denial and you can be seen on some biggest gambling capital places in the world on how much they've been regenerating on a single day in terms of profits or revenue and take for example in Macau which is only a very small city but a very progressive one because of gambling revenues where people tend to play even if it turns out to be expensive.This proves out on how big and how important gambling industry is for some
countries in terms of progress and a development. Some people are just way too judgmental that much when it comes to gambling.

[johhnyUA]

Hence, to say that gambling is more popular in our time than it has been in the past is wrong since there is no standardized method of comparison as far as I know. Of course, with the prevalence of the Internet, gambling has become much more accessible to the general public.

It was also accessible to the public before Internet, the difference was that preInternet gambling was more about small companies of small society groups, like neighbors or friends.

Internet just made it all worldwide and give access to the games which was not popular in your local region (and sometimes was not even known)

[Peanutswar]

Due to this pandemic, it's hard to show yourself and sometimes we got easily irritated because of the environment because this is not our real environment like staying at home and it's just a different way to us.

Some of them want to release that boredom and trying to enjoy themselves and try to gamble but not all the time we are winning gambling which causes the player more depression and anger to the game some of them want to urge get their money back by continuously playing but the result is not in favor of them.

This is the reason why at the start we need to know the possible outcome and the risk we will face if we try to play gambling. It's the tolerance of the player how it goes

[South Park]

1. Gambling in fact has many negative externalities. If someone gets addicted, the likelihood is much higher to be depressed. Depression is factor, which leads to high costs for the society.

2. Gambling addiction leads to economic costs because of crime actions. Other market actors have to increase their security standards, which means higher costs.

3. Many gambling addicts go as a consequence to jail. Jail means EXTREMELY high costs to society.

What are your thoughts on this topic?

Unfortunately, government do not look at this kind of stat they are more looking at the revenue they can collect from the taxes they impose on these casinos and from their workers and from companies that are associated with gambling casinos, they allocate a small portion of funds from the victims of gambling and they still have a big chunk of the revenues

I think they do but we must understand that things are never simple, lets put the example of the pandemic, on one hand governments had the health of the economy and on the other they had the health of the people which one do you pick? If you protect people and order them to go on a lockdown the economy will suffer but if they let people still do their normal activities we could have a lot more deaths, governments choose the health of the people over the economy and now we are dealing with those consequences, and something similar happens with making gambling legal.

[carlisle1]

Few governments realize that but the majority of the government knows that there are revenues, taxes and employment in the casino industry, this is a billion-dollar industry, and they employ millions of people and many companies worked and supply materials to the casinos, and those things you've mentioned are the collateral damages but not enough for government to stop the operations of gambling.

Gambling is indeed a multi billion dollar industry and its no denial and you can be seen on some biggest gambling capital places in the world on how much they've been regenerating on a single day in terms of profits or revenue and take for example in Macau which is only a very small city but a very progressive one because of gambling revenues where people tend to play even if it turns out to be expensive.This proves out on how big and how important gambling industry is for some
countries in terms of progress and a development. Some people are just way too judgmental that much when it comes to gambling.

That huge revenues plus many corrupt officials, all those matters are about the money government can take from this multi billion business,

They don't care about the damages as they are collecting taxes and underground fees from those casino owners who are facilitating inside their jurisdictions.

More on balancing the benefits and the damages, money talks louder than anything else.

[perfect999]

1. Gambling in fact has many negative externalities. If someone gets addicted, the likelihood is much higher to be depressed. Depression is factor, which leads to high costs for the society.

That's right but that can happen with any addiction, if someone is addicted to drugs it's even worst. I am not advocating for gambling but unless addicted, people can enjoy gambling just like they enjoy trips and other forms of entertainment.

I agree gambling is not coming for free of cost still I guess spending some money for entertainment purposes is not a big deal for most people with respect to their upper living standards. So, enjoying gambling within a limit and not getting addicted to it by playing it responsibly are the few things, every gambler must need to remember always while engaging in gambling.