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

[bitzizzix]

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.

Of course, governments play a crucial role in regulating gambling establishments in their cities, ensuring they are profitable and generate revenue that can boost the economy without corruption. Gambling is a lucrative business, and anything can happen.
Gambling can generate revenue from tourism and taxes, as well as create jobs for local communities, opening businesses, and so on, which can boost the economy not only for the government but also for the local community.

[WhoYouCantKill]

It may be a source of money, mostly from financially bouyant tourists, yet it isn't enough to awake a whole economy by itself. Gambling may boost tourism, hotels, restaurants, as well as local jobs, though it equally has it risks associated with it such as social problems and dependent on a sector. Sri Lanka may need larger reforms and firm policies for better recovery. Personally, I might not choose to travel for gambling purposes alone, yet I might love to check it out when I visiting such area.

[finaleshot2016]

It'll somehow help the economy of the country but please consider a lot of factors before implementing it. Think about the citizens who'll be affected by these gambling platforms or casinos, make a security if the person is capable of gambling or not because we know there are many negative effects of gambling if it's very accessible to the country.

Like for example, majority of those who lose a lot of money in gambling and get depressed is the poor who lacks education. If they aren't capable for gambling, then don't let them get in the platform.

[Churchillvv]

Ordinarily it wouldn’t help revive the economy but with different strategies put in place it’s definitely going to help, attracting tourists to visit and we know how much tourism cost in different places and how much revenue it could raise in summer when people like traveling so it’s a god idea to an extent.

Now they have some rare gambling kits that might interest many to start finding out what’s the secret behind those gambling events and kits hence desire to visit Sri Lankan. Personally there is no way I will spend a dime to visit such country even if they host a festival for gambling.

[Nahl]

Aside Macau and Las Vegas who can make gambling as source of income there are some countries who attempts to make gambling to make an attraction to get tourists from outside the countries such as Singapore and Thailand but i think these countries is successful to do that and i am not SriLangka citizen so i am not really sure the economic situation of this country

I think tax income from the casinos is very big that's why this idea appears because basically SriLangka want to makes this income to develop their economic conditions and i feel like if their government is really serious potentially this project will be success especially if high roller gamblers are starting to interested to visit this country to gamble probably it can help the people economy a lot

[348Judah]

Everyone cannot reason the same, some government are very considerable when it comes to any opportunity that could engaged the full participation of the people, because despite the fact that many are saying gambling is this and that, some are making it from gambling and have more hope on what they stand to get from gambling than what even the government have to do offer them, personally, I like the situation whereby the government will have to allow the people have freedom in deciding for themselves on what they want when it comes to entertainment like gambling.

[Jawhead999]

Gambling is no joke business, I'm sure it will recover Sri Lanka's economy because there are many tourists visit this country. We have seen how casinos become a sponsor in many events including the biggest events in this world.

A country who ban gambling should accept the drawback and make sure have a way to earn a lot money in other sectors. Unfortunately, many countries who ban gambling actually have a bad economy, so they're encourage themselves to stuck.

[icebar]

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 number of gamblers worldwide has increased significantly, which can be easily predicted by the rise of gambling platforms. Sri Lanka has been going through a difficult financial period for a long time, from which the governments trying hard to get rid of that situation. They are trying to re-examine each and every business very carefully and reopen them. Where there is little profit, they are trying to make more profit. I think it is definitely a good thing if Sri Lanka has such a policy. If gamblers are interested in visiting their country at the present time, their tourism industry will go a long way, which can play a big role in their country's economy. They will definitely benefit from creating a positive environment for gamblers at this time. There is no way to deny that gamblers have a big dominance around the world now.

[Z_MBFM]

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?

A casino site generates a lot of revenue. So of course a country can grow economically if that country can operate international gambling and attract gamblers from abroad. Because a gambler loses more than he can win from gambling. So of course casino business can ultimately improve a country if they master plan it that way. Gambling is now a hot topic worldwide and a lot of people are addicted to gambling, so it is possible to easily earn a lot of revenue from gambling.

[OgNasty]

I don’t see how taking money away from the people and giving it to big business is a way to improve the economy. Maybe it would improve the government’s position and help the casinos, but the people? No. The best way to help the people is to lower their burden. Less taxes. Less regulation. More access to capital.

[Zlantann]

It may be a source of money, mostly from financially bouyant tourists, yet it isn't enough to awake a whole economy by itself. Gambling may boost tourism, hotels, restaurants, as well as local jobs, though it equally has it risks associated with it such as social problems and dependent on a sector. Sri Lanka may need larger reforms and firm policies for better recovery. Personally, I might not choose to travel for gambling purposes alone, yet I might love to check it out when I visiting such area.

Attracting high rollers to the country will increase revenue, create new business, and increase employment opportunities.  Small businesses would also grow since there will be high patronage from tourists. Countries like Macau and Cyprus depend heavily on gambling revenue but it's not enough to revive the economy.

I think tax income from the casinos is very big that's why this idea appears because basically SriLangka want to makes this income to develop their economic conditions and i feel like if their government is really serious potentially this project will be success especially if high roller gamblers are starting to interested to visit this country to gamble probably it can help the people economy a lot

The government would also have to create an enabling environment that would attract tourists. Security, good infrastructure,  quality services, etc, should be in place for the government to achieve their aim of raising funds from the gambling sector.

[ChiBitCTy]

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 think that it can certainly help, sure.  Here in the United States there's been two major things that have been legalized lately to help bolster/boost the economy and that's been the sale of marijuana and legalization of gambling.  Now here in the United States there's both "federal" laws as well as "State" laws, and ultimately State laws win out (Unless the federal gov wants to step in for whatever reason and then they CAN technically overrule States)..so many States have profited heavily from the legalization of these things which has been a big win.  So sure, it can help.

[uchegod-21]

No doubt Sri Lanka will generate lots of revenue from gambling and Tourists who would be visiting the country. While they try to boost the country's revenue through gambling, the citizens might suffer from over exposure to gambling and the government will have to deal with gambling addiction and the use of casinos to launder money or aid criminal activities. People will gamble and will get greedy with their gambling activities just to make money as well. A major part of the government's revenue will be coming from gamblers who might as well be addicts too.

Truly speaking, gambling will be profitable, but there should also be good regulations to regulate the gambling industry to ensure order and sanity in the industry. The government should not only rely on gambling, they should diversify

[JunaidAzizi]

Seeing the situation in Sri Lanka, they really need a boost for their economy to stand up again, no matter what it could be or where it comes from. In this condition, gambling is a good source to generate revenue. Here, you guys need to be clear that the OP is talking about the establishment of casinos. When they create casinos, people from different areas come for gambling, and while players may experience profits or losses, the house is always profitable in both situations and will generate a good amount of revenue. The more casinos there are, the more revenue is generated.

[Justbillywitt]

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?

Do you know how much revenue that the gambling industry generate on yearly basis? Do you know the amount of money that these casinos are making because if you do you will know that there is enough money coming out from gambling and if the government want to take advantage of this and invest in it, they are going to make money from it which they can also use to reinvest in other areas to boost the economy. Depending on the kind of games that they offering and the fun it promises to provide, tourists will go to the country and gamble. They can also build an online casino and make it available for people of different countries. That way gamblers don't need to travel to the country before they can gamble.

[leonair]

No doubt Sri Lanka will generate lots of revenue from gambling and Tourists who would be visiting the country. While they try to boost the country's revenue through gambling, the citizens might suffer from over exposure to gambling and the government will have to deal with gambling addiction and the use of casinos to launder money or aid criminal activities. People will gamble and will get greedy with their gambling activities just to make money as well. A major part of the government's revenue will be coming from gamblers who might as well be addicts too.

Truly speaking, gambling will be profitable, but there should also be good regulations to regulate the gambling industry to ensure order and sanity in the industry. The government should not only rely on gambling, they should diversify

Yes, Sri Lanka is earning a lot of revenue from gambling, no doubt about it. And they are earning a lot of revenue from tourist spots because a lot of people travel to Sri Lanka every year. Although Sri Lanka was declared bankrupt while doing some mega projects, this may be Sri Lanka's new plan to recover them. It is possible to earn a lot of revenue from gambling and Sri Lanka can be successful in this. It does not matter which country will be their target. India is a very big country so India can definitely be a good target. And if they operate crypto casinos, it will spread very quickly all over the world which will help them earn a lot of revenue very quickly.

[GiftedMAN]

The president knows the revenue that will be generated through gambling if they establish a good relationship with other foreign gamblers that will be interested in visiting the country to invest in gambling but I hope the citizens don't become addicted in the process of him trying to improve the economy of the country because not only will they attract foreign investors from investing in gambling the citizens will also want to gamble so that they can liberate themselves from poverty if they get lucky and in that process they may become too addicted.

Sri Lanka needs economic growth they need something better than gambling in the country the president can think of other things and not gambling because the citizens can become addict which even draw the country backwards if they are unable to realize and control it.

[Mrbluntzy]

Considering the positive side of gambling, it will actually help the country's economy, maybe not completely fixing everything but the revenue that will be generated will surely help depending on how large the gambling market or industry grows and also it is going to bring other form employment for people of the country.

[r_victory]

If casinos generate the revenue expected for this recovery, it could indeed be a solution to a declining economy. However, it's important to plan, take care of those with addictions, and monitor businesses to ensure everything runs smoothly. Otherwise, it could be an even greater disaster.

[JiiBs]

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?

Considering that gambling remains a thriving industry, I think this could go a long way to improve the economy of the country given that, they would be arms open to foreigners to come and gamble away their money, to have that free access and ready to gamble casino for people to experience that which they aren’t at liberty to in their country.

The much we are aware of, you can’t beat the house, you could only have few wins and that means, more funds and jobs for the people of Sri Lanka in the gambling business.