How is wealth distributed through Gambling

[peter0425]

Money runs gambling. It gets transferred from a point to another. From the poor to the wealthy, from the wealthy to the poor.

Let's first talk about how the poor gives the money to the wealthy.... They allocate a huge part of their money (which isn't a lot in the first place) to gambling thinking that this would be the quick fix to their problems. This is how they give the money to the wealthy in this case the casino owners.

But the money can also go from the wealthy to the poor. If the tax from casinos gets collected by the government and is used effectively, it can help a lot of those in need. The money can be used to improve infrastructure, education, healthcare and etc.

[swogerino]

Money runs gambling. It gets transferred from a point to another. From the poor to the wealthy, from the wealthy to the poor.

Let's first talk about how the poor gives the money to the wealthy.... They allocate a huge part of their money (which isn't a lot in the first place) to gambling thinking that this would be the quick fix to their problems. This is how they give the money to the wealthy in this case the casino owners.

But the money can also go from the wealthy to the poor. If the tax from casinos gets collected by the government and is used effectively, it can help a lot of those in need. The money can be used to improve infrastructure, education, healthcare and etc.

That is the main idea when the government taxes the casinos in the first place but the problem is that I find it very hard to find a government that is today not corrupted in our world where we live in, yes even the big ones, in fact they are more corrupted than small ones and that is why for example in US there is no free healthcare, the taxes are flowing somewhere else and this is just one example of corruption from a big country. Now for the poor that is their own mistake which they keep repeating expecting different results which can be called insanity as Einstein said. The poor people gambling are much more dangerous to the society than the corruption going on in government offices as the poor playing are directly hitting their life to misery, they should stop in order to start and improve on what they have.

[btc_angela]

Money runs gambling. It gets transferred from a point to another. From the poor to the wealthy, from the wealthy to the poor.

Let's first talk about how the poor gives the money to the wealthy.... They allocate a huge part of their money (which isn't a lot in the first place) to gambling thinking that this would be the quick fix to their problems. This is how they give the money to the wealthy in this case the casino owners.

But the money can also go from the wealthy to the poor. If the tax from casinos gets collected by the government and is used effectively, it can help a lot of those in need. The money can be used to improve infrastructure, education, healthcare and etc.

That could be the cycle, but still the poor might not get enough from the taxes, specially countries that are very corrupt. And then not every wealth is being given to the government itself. It's obvious that the casino is a business, and so they will take the lion share and just give enough taxes to the government in certain portion.

So there is no distribution of wealth in my opinion. If there is, the poor or those who have lost so much in gambling will not get any back in any from. The casino as a business empire will still get most of the profits from the poor or the gamblers themselves.

[Charles-Tim]

Not only the poor people that are gambling. More poor people may gamble but if compared to the money that rich people use to gamble, rich people will have higher amount of money put on gambling in total than the poor people.

But the money can also go from the wealthy to the poor. If the tax from casinos gets collected by the government and is used effectively, it can help a lot of those in need. The money can be used to improve infrastructure, education, healthcare and etc.

Can you explain better?

How can the taxes from gambling favour the poor most? As the government developed something, there are places that the rich people will enjoy it than the poor people, example are good roads, petrol and electricity, or both the poor and the rich people will enjoy it together like subsidized University tuition fee.

[Hatchy]

Money runs gambling. It gets transferred from a point to another. From the poor to the wealthy, from the wealthy to the poor.

Let's first talk about how the poor gives the money to the wealthy.... They allocate a huge part of their money (which isn't a lot in the first place) to gambling thinking that this would be the quick fix to their problems. This is how they give the money to the wealthy in this case the casino owners.

But the money can also go from the wealthy to the poor. If the tax from casinos gets collected by the government and is used effectively, it can help a lot of those in need. The money can be used to improve infrastructure, education, healthcare and etc.

Do the government actually distribute the wealth back to the poor? I don't think that's common in most countries.. government place high taxes on the poor and make money off them instead.. the wealthy gambles trying to risk part of their wealth and get a return... They barely have to risk much because just one percentage of their funds is enough to make them high returns in gambling... Unlike the poor who has to put behind his mind risk management... So to me, the poor distributes more than the rich in gambling and our society at large...

[Beparanf]

But the money can also go from the wealthy to the poor. If the tax from casinos gets collected by the government and is used effectively, it can help a lot of those in need. The money can be used to improve infrastructure, education, healthcare and etc.

This is the perspective I didn’t realize and you make a valid point here. In my country most of the tax is useless coming from casino since it’s being corrupted by politicians.

Politicians here have a low salary that is not enough to become a multi millionaire yet they become super millionaires due to corruption which is sad.


Back to the point, I just wan to add here on how wealthy money distributed to poor. It’s true job, Some of the casino employees are poor while casino provides job to poor that’s why I don’t like the current total ban on gambling to my country

[Slow death]

In my opinion, governments should only tax casinos and gamblers who win very large jackpots, but unfortunately, this isn't happening. Casinos and gamblers are taxed heavily. To make matters worse, governments haven't encouraged healthcare companies to train specialists who can quickly help gambling addicts. Now, regarding what governments do with taxes, unfortunately, many governments take taxes from citizens to use for their own purposes. As a result, the country doesn't develop as it should.

[danherbias07]

But it could be ruined midway. Corruption.

Taxes. Yes, if an online casino or a physical casinos (which is likely) is regulated then taxes will come in. That money could be used for different projects like public roads, health, or others that are used for public service.
The problem is that someone or some group inside the government could put them in their pockets without anyone knowing. There might be some gambling practices that are being regulated by the government, such as national lotteries, but when it's owned by a private company, this is where it could all go wrong.
Anyway, you are right about it on a clean government, but there's no such thing.

[Tipstar]

Money runs gambling. It gets transferred from a point to another. From the poor to the wealthy, from the wealthy to the poor.

Let's first talk about how the poor gives the money to the wealthy.... They allocate a huge part of their money (which isn't a lot in the first place) to gambling thinking that this would be the quick fix to their problems. This is how they give the money to the wealthy in this case the casino owners.

But the money can also go from the wealthy to the poor. If the tax from casinos gets collected by the government and is used effectively, it can help a lot of those in need. The money can be used to improve infrastructure, education, healthcare and etc.

The people gambling comes from all economic class and there's no specific result in redistribution of money. On contrary, the operators are the ones earning the most and they don't come from lower economic class.
The high tax levied on gambling is often seen as a redistribution with the help of the government but everyone knows that's not how government works. On surface it may look government is leading infrastructure development and maintaining security which would benefits the lower class but that's just a small fraction of the total revenue generated by the government. The government itself isn't a good distributor of money and it leads to more disparity than an open economy would.

[Wiwo]

Do we have wealth redistribution in gambling, i think the place of that is limited and from analysis of how money rotates from the wealthy to the poor is somewhat misleading since you mentioned that the only money transfers from the wealthy to thebpoor is through government tax collections, for me that is far from what it is since gambling could be based of player's against each other and only in house game's give the casino the complete control and advantage

Government tax both the gambler and the casino it self and in the end, government will always be in profits via taxationand other fee's. .

[Agbamoni]

Both the rich and the poor give their money to the casino owners because they both gamble. Not only the poor gamble. And yeah, I can agree that wealth is transferred from the money gathered from gamblers to the casino owners but in the case of casino giving wealth to the poor I dont think that happens at all. Money gotten from taxes are not distributed accordingly.

[purple_sparkles]

Back to the point, I just wan to add here on how wealthy money distributed to poor. It’s true job, Some of the casino employees are poor while casino provides job to poor that’s why I don’t like the current total ban on gambling to my country

There is a saying that forbidden fruit is always the sweetest. That is, we want what we can't have even more. That's why I believe that banning something only increases its value. It’s better to use other ways to regulate such sensitive issues as the gambling business. For example, betting companies and casinos could be required to constantly remind people at every step about the risk of losing money and falling into debt, as well as about personal responsibility. This way, a person would have the opportunity to avoid thoughtless recklessness, the state would gain another source of tax revenue, and people would still have the freedom to choose their own actions.

[m2017]

Money runs gambling. It gets transferred from a point to another. From the poor to the wealthy, from the wealthy to the poor.

Most often from the poor to the rich, to make them even richer.

Let's first talk about how the poor gives the money to the wealthy.... They allocate a huge part of their money (which isn't a lot in the first place) to gambling thinking that this would be the quick fix to their problems. This is how they give the money to the wealthy in this case the casino owners.

Still, do you realize that the casino is designed in such a way that the chances of winning are low and most likely the gambler will simply "give away" his deposit as a result of the gaming process?

But the money can also go from the wealthy to the poor. If the tax from casinos gets collected by the government and is used effectively, it can help a lot of those in need. The money can be used to improve infrastructure, education, healthcare and etc.

The issue of the efficient use of budget money by states is a separate and long topic for discussion.

Do you think that by taxing casinos, "the money of the rich" will indirectly go to the poor? But this is initially the money of the poor themselves, which flowed into the hands of the rich and, after deducting the profit of the rich (casino owners), partially (a small part) returned to them in the form of casino taxes. It seems to me that the most efficient way for the poor would be to "bypass" the intermediary in the form of casinos and use this money (100%, and not part in the form of casino taxes) to improve their lives. Isn't it?

[Porfirii]

Both the rich and the poor give their money to the casino owners because they both gamble. Not only the poor gamble. And yeah, I can agree that wealth is transferred from the money gathered from gamblers to the casino owners but in the case of casino giving wealth to the poor I dont think that happens at all. Money gotten from taxes are not distributed accordingly.

Good point, as it seems that we're talking in this thread as if casino owners were the only rich in the world.

I don't know the real numbers, and my intuition tells me that the long tail of small gamblers adds up to more than what the rich gamble (although I may be wrong), but in any case the rich also gambles and losses a lot of money that is redistributed and should be taken into account in this conversation.

[mindrust]

I don’t think casinos pay lots of taxes. That’s the whole point. People prefer starting a business instead of having a high salary job because when you own a business you can legally pay little to no income tax. That doesn’t mean the government and the poor don’t benefit from the casinos though. They still do.

When a business gets big enough, it has to hire employees and the more employees they hire, the lower the unemployment rates become. Both people and the government benefit. Not through collecting income taxes but reducing the number of unemployed people.

[Russlenat]

From the start, it's already wrong. the poor shouldn't be losing money in gambling just to make the operators rich. that goes against the basic principle of "gamble only what you can afford to lose." If you say someone is poor, it means they’re already struggling financially so they don’t have that kind of freedom to gamble.

But the sad part is, they still do. And yeah, the government collects taxes from casinos, but does that mean the issue of poor people getting addicted to gambling isn’t a problem? Of course it is. So if you really think about it, the money the government earns from gambling doesn’t seem to be helping the people who need it the most.

[Cryptmuster]

Money runs gambling. It gets transferred from a point to another. From the poor to the wealthy, from the wealthy to the poor.

Let's first talk about how the poor gives the money to the wealthy.... They allocate a huge part of their money (which isn't a lot in the first place) to gambling thinking that this would be the quick fix to their problems. This is how they give the money to the wealthy in this case the casino owners.

But the money can also go from the wealthy to the poor. If the tax from casinos gets collected by the government and is used effectively, it can help a lot of those in need. The money can be used to improve infrastructure, education, healthcare and etc.

You are trying to make a complex chain and find some positive layout for taxes from casinos, but this money from taxes can go to repair roads or build some objects for state needs, and will not go to the poor at all (if I understood your idea correctly, then we were talking about social programs). But if a poor person goes to a casino and loses there, and then waits for these social payments, then it turns out that he simply loses in the casino what he received as help from the state and this is also a bad use of his money. There must be competent budget management, and if there is little money, then only a small part can be spent on gambling, otherwise it is reckless.

[bitbollo]

Money are not distributed in that way. Its well know that many players in this industry are doing anything possible to pay as lower as they can as taxes.
Nothing bad at all. laws allows it. They are not entities for charity... Bear in mind, there are some companies in this industry that are PRIVATE and not quoted in the markets.
Because this sector sometimes could be such profitable that you would not share even the smallest slice of the cake!

[MrDipBuyer]

Money runs gambling. It gets transferred from a point to another. From the poor to the wealthy, from the wealthy to the poor.

Let's first talk about how the poor gives the money to the wealthy.... They allocate a huge part of their money (which isn't a lot in the first place) to gambling thinking that this would be the quick fix to their problems. This is how they give the money to the wealthy in this case the casino owners.

But the money can also go from the wealthy to the poor. If the tax from casinos gets collected by the government and is used effectively, it can help a lot of those in need. The money can be used to improve infrastructure, education, healthcare and etc.

Addiction runs gambling. Money is a tool to gamble with. It is colorblind and can impact anyone, rich and poor.

[freedomgo]

It would actually be better if the country only allowed local gambling operators, so at least the profits stay within and help the local economy. That’s the logic behind it. But it’s just as important for the government to regulate them properly. If their main target ends up being the poor, then gambling stops being helpful and just turns into a burden, it’ll only lead to more addiction and hurt more people in the long run.