Gambling as a way to recover the economy, effective or not?

[freedomgo]

If their target market isn’t the locals, then I think it can help. All they really need to do is lower the gambling taxes so more operators will come to the country and turn it into a hub for offshore casinos.

That is the one strategy that Singapore uses, they don't want their locals to be addicted and so they raise like having to show money when you are a Singaporean before you can play so that they discourage them. For Sri Lanka that should be the case as well. But I wonder if they are a tourist spot for gamblers to travel and play on their casinos.

POGO is an online gambling market that serves overseas gamblers, so with that setup they can still earn big. They don’t even need physical casinos because the online market alone is massive, especially from countries where gambling is restricted.

Yes, when corruption enters the picture, it will truly ruined everything. Maybe the former President Duterte has all the good intentions that whey he allowed POGO and online cockfighting. But when he left, everything goes wild, no central authority to held anyone responsible that's why gambling just create more problems in the Philippines instead of raising billions of money from tax alone to help the Filipinos.

Online cockfighting was banned during his term, but POGO remained. Unfortunately, the corrupt agency PAGCOR didn’t do its job properly, which led to a big loss of revenue as the problems just got worse. It’s the same story as what’s happening now, where around 500 billion pesos per year goes into the pockets of corrupt politicians through substandard infrastructure projects.

[hyudien]

I believe legalizing gambling could help their economy. Gambling taxes are quite high, and the presence of physical casinos in the country could certainly create new jobs for its citizens. However it would be unwise to rely solely on this sector to revive their economy. Fortunately Sri Lanka has many tourist attractions. If managed well and combined with the gambling industry, the potential for success is quite high.

[justinlamode]

If you follow the arguments that "to win gambling, you have to own the casino", then you will agree that the government is going in the right direction because they intend to be part of the people to benefit from the proceed of casino business since the target gamblers, mostly foreigners, who will come into the country to spend their money. There are so many ways this will benefit the government and the economy of the country in general such as increase in tourism activities which boost the local economy so much. There will also be increase in revenue for the government through taxes.

[retreat]

If they plan to open a gambling industry with the aim of attracting tourists to gamble and vacation in their country, then the plan is legitimate, as there are many examples of countries successfully increasing foreign exchange through such programs. However, whether it will be effective or not depends on how the Sri Lankan government designs the program to ensure its success. Attracting tourists from other countries to gamble is no easy task - it's not just about providing casinos and entertainment facilities, but also about creating a comprehensive and welcoming tourism ecosystem. Furthermore, there have been numerous cases of locals scamming visitors, so this may be an important consideration for tourism there.

[Satofan44]

Tourists gambling in your country? That can be good. You should serve them, otherwise they would just go somewhere else do to their spending. Your own population gambling massively in a degree that makes it significant for your country's economy? Absolutely not good. Imagine if you wanted to recover your economy by making everyone a smoker or alcohol drinker. There are simply too many negatives that arise from this kind of spending and in the long run they will easily outweigh the benefits.

However, whether it will be effective or not depends on how the Sri Lankan government designs the program to ensure its success. Attracting tourists from other countries to gamble is no easy task - it's not just about providing casinos and entertainment facilities, but also about creating a comprehensive and welcoming tourism ecosystem. Furthermore, there have been numerous cases of locals scamming visitors, so this may be an important consideration for tourism there.

It is not easy that is right. The space must also be very nice, safe, affordable. I need a very good reason to visit Sri Lanka. As an international, there is currently zero chance that I would visit them.

[AbuBhakar]

The success of the casino strategy is crucial for President Anura Kumara Dissanayake, who completes one year in office next month and has vowed to improve the lives of ordinary Sri Lankans after the devastating economic collapse of 2022 and 2023.

While other countries are trying to ban gambling in their countries, there are countries like Sri Lanka who is trying to use gambling as a way to revive their economy. They are aiming to attract gamblers from India and China to contribute to their tourism. Do you think this will be effective? Do you think it is possible to revive a failing economy just from gambling revenue? Would you be willing to travel to Sri Lanka to gamble?

This will be effective since their target market is other country which gambling is not allowed. Casino industry generates a huge profit that can contribute a lot to a developing country economy.

It can provide a lot of job for the citizens together with profit generation for the country.

However, this is a double edge move if ever their citizens will be addicted on gambling too. They should ban citizens to gamble on their own casino if they want to avoid inflicting damage on their own.

[stadus]

This has already been done by other countries. If you’ve noticed, some casinos here use licenses from places like Costa Rica or Malta since they’re gambling-friendly. They don’t really market to the locals but instead cater internationally. That way they can increase their revenue while keeping their own citizens from gambling.

Aside from those, there are also countries like Cambodia and Laos doing the same, so it’s not just a few.

[Mr. Magkaisa]

A good way to make money with gambling, a very wise move. It is just his country men should have the control for it.
Attacting more foreign to gamble on your country is not only giving life to casinos but more investorswill come to build casino hotels because of this. thats bulls eye!
Another is giving more  work and opportunities to locals and promoting tourism at the same time.

[YOSHIE]

Gambling as a way to recover the economy, effective or not?

The answer is "ineffective" easy if you make your own to restore the economy in gambling, you can do the research yourself, quite easy.

First of all, you make a $ 1000 deposit on online gambling sites, for control and count management, whether you want to target one week or one month, you can do as usual free to play in any type of game.
If you have reached one week or one month you check your account, whether the $ 1000 money will increase or you will be $ 0, there you can receive answers to recover the economy in fact.

However, for me whatever is the reason you want to do in gambling, of course risk, honest for me gambling is not a way to restore the economy well, but for other reasons it could be.

[GreatArkansas]

The success of the casino strategy is crucial for President Anura Kumara Dissanayake, who completes one year in office next month and has vowed to improve the lives of ordinary Sri Lankans after the devastating economic collapse of 2022 and 2023.

While other countries are trying to ban gambling in their countries, there are countries like Sri Lanka who is trying to use gambling as a way to revive their economy. They are aiming to attract gamblers from India and China to contribute to their tourism. Do you think this will be effective? Do you think it is possible to revive a failing economy just from gambling revenue? Would you be willing to travel to Sri Lanka to gamble?

I'm just worried about their people because they must have some policy to protect their people from gambling addiction, like other countries where most foreigners are just gambling in their country, and that's the time they are making a lot of money because of taxes or fees.
For me, this is not wrong. As long as everything is legal and the right way. A lot of gambling cities that really contribute huge in the countries' enonomy.

[rachael9385]

The success of the casino strategy is crucial for President Anura Kumara Dissanayake, who completes one year in office next month and has vowed to improve the lives of ordinary Sri Lankans after the devastating economic collapse of 2022 and 2023.

While other countries are trying to ban gambling in their countries, there are countries like Sri Lanka who is trying to use gambling as a way to revive their economy. They are aiming to attract gamblers from India and China to contribute to their tourism. Do you think this will be effective? Do you think it is possible to revive a failing economy just from gambling revenue? Would you be willing to travel to Sri Lanka to gamble?

Some countries accept gambling and they collect taxes off casino businesses hence improving the economy of the country while other countries put a strict ban on it, may question always remains, those countries where gambling is accepted and the government tax casinos, are people not addicted in those countries? Because this is probably the main reason why the government of some countries restrict people from gambling

[panjul07]

Effective or not, it will be depending on how the government manage it because to make gambling as a source of income for the government, it requires good management.
In general, gambling may give income from various things such as tax, license, tourisms, and some other things.
It means that if a government can manage it well, gambling can be an effective way to recover the economy of a country.

[Doan9269]

The success of the casino strategy is crucial for President Anura Kumara Dissanayake, who completes one year in office next month and has vowed to improve the lives of ordinary Sri Lankans after the devastating economic collapse of 2022 and 2023.

While other countries are trying to ban gambling in their countries, there are countries like Sri Lanka who is trying to use gambling as a way to revive their economy. They are aiming to attract gamblers from India and China to contribute to their tourism. Do you think this will be effective? Do you think it is possible to revive a failing economy just from gambling revenue? Would you be willing to travel to Sri Lanka to gamble?

The better we start having people that will come in power and change the entire narratives on wrong approach some of our present and past leaders has been working on as myopic mentality, they clhabe to see running a casino as a form of business and not a liability on us, because people choose to gamble as they wanted to have fun by getting theirselves engaged and being entertained, but it's not funny the way some government have seen gambling as a way of invoking hardships on people's life, despite all these, we can't deny the way gambling has rendered lots of opportunities for the people to survive and depend on, I just wish we ha e more presidents with the same kind of mentality this man is having.

[Strongkored]

While other countries are trying to ban gambling in their countries, there are countries like Sri Lanka who is trying to use gambling as a way to revive their economy. They are aiming to attract gamblers from India and China to contribute to their tourism. Do you think this will be effective? Do you think it is possible to revive a failing economy just from gambling revenue? Would you be willing to travel to Sri Lanka to gamble?

I don't think so, because I've never considered going on vacation, whether to gamble or just vacation to South Asian countries like Sri Lanka or India.
I think it's not just targeting gamblers but also tourists, but of course many would come there if they could feel safe and comfortable with the facilities available, so the target is achieved.
Although the target is gamblers from India or China, gamblers from those countries will certainly compare what they get from gambling in other countries. Competition is fierce, so it's not just about opening a casino; there are many other things, such as facilities and security, that players really need.

[BABY SHOES]

While some countries ban gambling and people are worried how to stop spread of gambling addiction, others open door wide for gambling and improve their economy with gambling taxes, tourism and investments in infrastructure around casinos. How this is possible? One party are against gambling, other party welcome it with a smile. I dont think that Sri Lanka government is so reckless and want to drawn country in debts, addicted gamblers and financial problems.

This is what worries some other countries that prohibit gambling, fearing that addiction will spread more severely among their people.

Sri Lanka is a small country, so it is natural that it wants to revive its economy through gambling taxes in order to build infrastructure in the country. Several other countries have opened up widely, and this is beneficial for a country.

Still, other countries prohibit gambling because they are concerned about its impact, since severe addiction becomes a problem for a country.

[robelneo]

The success of the casino strategy is crucial for President Anura Kumara Dissanayake, who completes one year in office next month and has vowed to improve the lives of ordinary Sri Lankans after the devastating economic collapse of 2022 and 2023.

While other countries are trying to ban gambling in their countries, there are countries like Sri Lanka who is trying to use gambling as a way to revive their economy. They are aiming to attract gamblers from India and China to contribute to their tourism. Do you think this will be effective? Do you think it is possible to revive a failing economy just from gambling revenue? Would you be willing to travel to Sri Lanka to gamble?

The government of Sri Lanka knows and understands the role of gambling in the economy: the taxes, the jobs and the creation of a new industry.
Since their primary goal and design are to attract gamblers from other countries and make their country a stop for gambling tourists, they must maintain peace and order and enhance the tourist destination to attract tourists.
The Sri Lankan government can revive their economy if it can implement its goal properly; other countries like Macau have done this, so why can't?

[m2017]

While other countries are trying to ban gambling in their countries, there are countries like Sri Lanka who is trying to use gambling as a way to revive their economy. They are aiming to attract gamblers from India and China to contribute to their tourism.

Sri Lanka is trying to stimulate its economy with the "tools" it has at its disposal. In this case, tourism and casinos.

Do you think this will be effective?

It seems to me that this type of economy (tourism) is very dependent on neighboring countries. In the short term, it will attract tourists (including gambling tourists), but what if the policies of neighboring countries change and the flow of tourists dries up? Then what? Of course, problems in the economy will arise again. I think that such countries should look for other ways to "revive" their economy, in the form of production (of something), not necessarily material. These can be "objects" of intellectual labor.

Do you think it is possible to revive a failing economy just from gambling revenue?

Short-term, because this is a very unstable income (dependent on visiting gamblers).

Would you be willing to travel to Sri Lanka to gamble?

If I wanted to gamble, I would use online services.

[Agbamoni]

The main intention is to attract tourist from close by countries. Tourists are usually attracted to a country with a mix of natural beauty, cultural activities and global uniqueness in terns of recreational places etc.

The $1.2 billion City of Dreams resort was built to accommodate tourist from all over the world, with a large casino included. With gambling, they can global tourist from nearby countries and also make money from the casino.

[danherbias07]

It can. In my opinion.

I have seen a city suddenly changed because of gambling, and I think if the purpose is for tourism, then it's much better. There's so much money in gambling, and even investors will come in.
It's one of the biggest industries now, and it could really attract a lot of people, especially if they have games that cannot be played online. I mean, some would say they'd rather play it on their phones, but if it's a game that is unique and more enjoyable in a physical game, then I believe it could attract tourists. Poker, for example. Tournaments are very popular.

[₿itcoin]

The success of the casino strategy is crucial for President Anura Kumara Dissanayake, who completes one year in office next month and has vowed to improve the lives of ordinary Sri Lankans after the devastating economic collapse of 2022 and 2023.

While other countries are trying to ban gambling in their countries, there are countries like Sri Lanka who is trying to use gambling as a way to revive their economy. They are aiming to attract gamblers from India and China to contribute to their tourism. Do you think this will be effective? Do you think it is possible to revive a failing economy just from gambling revenue? Would you be willing to travel to Sri Lanka to gamble?

Bro, to say that casinos will help to revive an economy is like using duct tape on a sinking ship.. lol  . Gambling tourism may for sure bring in some fast money however it can not be a long term solution to the deep financial problems of a country. Sri Lanka can surely make some money if Indian or Chinese high rollers come there however what happens when trends change or another crisis strikes? The gambling revenue is too erratic to be completely dependent on it. I think that instead of surviving on these roulette spins they should try & make some strong industries. I would never travel there just for gambling, at least till the time they do not add whole package of cool beaches & good vibes ,, otherwise it is just another casino trip.