The economic value of sports gambling.

[Jubilee58]

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

[Yaunfitda]

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.

[Synchronice]

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

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.

[danherbias07]

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.

[Cointxz]

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.

[Doan9269]

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.

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.

[iv4n]

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

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?

[rodskee]

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

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

[Finestream]

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.

[Y3shot]

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.

[Promocodeudo]

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.

[Ruttoshi]

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.

[Porfirii]

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".

[tsaroz]

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.

[Sammye3]

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.

[Botnake]

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.

[Z390]

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.

[Free Market Capitalist]

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.

[Money bag]

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

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.

[Accardo]

Gambling creating job opportunities is the lamest thing I've read on here today, what do you mean by that OP?

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.