The economic value of sports gambling.

[mindrust]

I see it as a form of entertainment and entertainment industry is huge. People who like gamble don’t only spend money on bets, they also purchase the side dishes. They watch live games, buy snacks, official team products, clothing etc. Gambling doubles or triples the ongoing fun. It is sad that some countries don’t see it that way and want to strangle casinos but little they know that if they do it, these people won’t stop gambling, they’ll just move to somewhere else where they can gamble freely. I mean this product is good, people just can’t have enough of it, why stop people? Maybe put some extra tax on it if you want a piece from the action but that’s still not necessary as those big companies already pay their taxes. Ban gambling? We need to teach gambling in colleges. I wish i was  graduated from gambling engineering. Would be the banger

[Slow death]

I'm not really sure how sports betting create more jobs or opportunities.

I'll give you an example of what happens in my country:

Here in my country, betting companies have websites and physical offices, so in each neighborhood they have employees to assist customers. They call them ticket sales points and customer service centers. This shortens the distance for people who live far from the city when they want to complain about the company. This is creating jobs because the sports betting company also has marketing employees who are out on the streets advertising the sports betting company. I think it's a way of providing employment.

[YOSHIE]

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

There is no doubt that the sports gambling industry can improve the national and international economy equally, it cannot be denied that many sports gambling industries, even though they are illegal, the government still protects them secretly, This is one proof that the sports gambling industry is a real benefit for the government as a whole, it is an open secret about the government's behavior towards the sports gambling industry.

One of the most prominent economics for the government is in terms of taxes, other industries may have high taxes that could have an impact on society at large, such as the cigarette and product industry, So the taxes imposed are also limited, but not for the sports betting industry, they will pay high taxes, as long as they can be safe and operate freely, that's one of them.

[₿itcoin]

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.

However, sports betting is faced with many challenges and gamblers should be aware of these challenges and thread or gamble with caution.

If everyone gambled legally instead of going offshore, it would definitely generate massive tax revenue for the government.This money could be used to improve public services or to treat addicted gamblers. You know,  regulated betting in Europe is generating a lot of money. Also keep in mind, the betting industry is not just about punters, it is also creating jobs in technology, customer service &  retail. In the UK, betting companies generated an economic value of 6.8 billion pound last year

However, there is another side to consider, yes, there are real risks, addiction, social harm &  if the process goes the other way, an opportunity for unregulated black market betting. So I think, it is not just a win win situation. The government should take adequate measures to protect the strong players with user friendly rules &   regulations

[rakebit]

Sports gambling does have an economic impact, it creates jobs, boosts viewership, and drives revenue for teams, leagues, and casinos. For bettors, the value comes from entertainment plus the challenge of finding good odds. Still, the house edge means most money flows back to operators long-term.

[Bluedrem]

In the case of the economy that you have raised in the case of gambling, the government of a country may prosper through its income but the people of that country may fall into financial difficulties due to gambling. Gambling can never provide employment to any person and gambling can never be a way of earning for one. No one can ever give you the guarantee of winning in gambling. You can lose at any time while gambling and what if you gamble ten times a day i.e. bet 10 times and lose 10 times. Where there is no guarantee of winning money, it can never be a way of earning for a person. That is why people are told to gamble using only your discretionary income.

[taufik123]

-snip-
One of the most prominent economics for the government is in terms of taxes, other industries may have high taxes that could have an impact on society at large, such as the cigarette and product industry, So the taxes imposed are also limited, but not for the sports betting industry, they will pay high taxes, as long as they can be safe and operate freely, that's one of them.

If legal gambling will be a high income for the country because seeing that the turnover of money in gambling is very large,
of course the taxes generated will be comparable.

The economic value of sports gambling is of great value because there are many sponsors in the speak ball game,
there are more products coming in, and users in online casinos also make more bets.

So it is not surprising that it will generate a large tax profit because indeed sports betting is the most profitable evet.

[Mrbluntzy]

Just like other industries too which are contributing to the economic growth of a country, that's how generally, gambling also contributes too, the government are taxi gambling operators and the different gambling companies combined, are paying a massive amount to the government as tax, in those countries where gamblers are also taxed, all the tax from gamblers and the operating companies is really a massive amount. The employment that all those casinos and sportbooks are offering is helping create job opportunity, which in the little way that they are contributing, it's also helping the economy.

[uneng]

Gambling, like any other industry, has its positive and negative aspects. The point is that regards gambling, the focus from society is destined to the negative aspects, so hardly ever you hear about its positive impact over the economy.

Gambling has potential to create jobs spots, to raise touristic interest for a determined city or region, and even to generate an income for the government through taxes.

And all you have to do in order to have access to the benefits of gambling is to not become a degenerate, addicted player. You can be directly or indirectly benefited economically. Directly, if you work for the industry, or indirectly, if the local economy is being boosted by the industry (through tourism, for an example).

[Text]

for me sports gambling really has both positive and negative sides but no doubt it contributes something to the economy when properly regulated. Right there are many countries that treat sports betting as a legit industry because of that there are so many revenue enters through taxes, licensing and even tourism plus thousands of jobs also are developing from customer support to data analysts, marketing & etc. Here in our country people spend on betting platforms, subscriptions and tickets & all those small transactions contribute to economic activity as long as the government ensures fair regulation and proper tax collection it can really help boost national revenu but of course gambling still comes with risks there are many affected as well so much  if they don’t know how to control so I agree bettors should always gamble responsibly & be aware of the possible downsides.

[mcdouglasx]

Sports betting is a huge business and, whether you like it or not, it ends up being part of a country's economy. In places like England or Spain, it's not uncommon to see betting companies sponsoring football teams, appearing on jerseys, and even having a presence in stadiums. This means they not only move money among the players but also become deeply involved in the sports industry and advertising.

[NurseHub]

It's true that gambling can give value to the economy and also create job opportunities, but it still depends on the country. In developed countries, as you mentioned, the number of unemployed is low, so with the opportunities of betting companies, it is sure to give these value. Another thing is, considering the rate of taxes being paid to the government, it's already adding value to them. This is the reason most of these countries can't do away with gambling, knowing the benefits they get, neglecting the effect of it as an addiction on their youths. But when it involves some of these countries where unemployment is at its highest rate, gambling can't give any valuable opportunity because the employment rate is low, they barely take people. So, to my little knowledge, this doesn't work in every country.

[Mpamaegbu]

However, sports betting is faced with many challenges and gamblers should be aware of these challenges and thread or gamble with caution.

There's nothing in life that doesn't come with its own challenges. Everything does. The difference may be in the gravity of their challenges. Gambling activities shouldn't be an isolation of this fact.

However, your opinions are highly welcomed here

It's true that gambling outfits do provide employment as there are staffers to run them but we can't classify this as a big sector of employment. Invariably therefore, we can also include them as revenue sources for government through taxation. However, the major highlight for gambling outfits is the source of engagement and relaxation they afford gamblers. That moment when gamblers converge (for offline bettors) or engaged (for online bettors) provides momentary release from burdens and life's reality. Sometimes breakthrough can come from that too.

[Fortify]

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

I think this is looking at this situation the wrong way around - these countries have big betting scenes because a) they've got some pretty well developed sports organizations that are often playing at the highest level around the world and b) they have fairly liberal and welcoming laws surrounding gambling, so they are not especially punitive to betting related companies. This has the added benefit of raising tax revenue locally instead of pushing all the money that people spend on sports betting into the hands of foreign companies. Plus it means they have greater visibility of money passing through betting sites which can sometimes detect criminal activity.

[Findingnemo]

If a country is generating more revenue from the tax collection from casinos means the casinos in the country is generating more profit, which implies that people in the country is losing more money. So how is that helping the economy?

There are very few places in the world attract people from different country just to gamble in a specific location and in other cases it's just their citizens.

[Fivestar4everMVP]

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

"However" must be one of your favorite English word 😁

Anyways, whatever activities people engage themselves in surely carries some economic advantages which if well planned and maintained could be turned into a very good source of income to the government of that city, and its good you are talking about gambling and how it helps boost economies around the world.

The gambling industry is a multiple billion dollars industry, and there is no way an activity which such a huge stats won't be beneficial to the government if only they will know how to cut their onion, gambling creates jobs, generally employing millions of people across the globe and thereby (like you said before) significantly reduce the number of unemployed persons across a country.
And regardless of the challenges in betting, what is very important is ensuring that you are always playing with an amount you can comfortably afford to let go if lost, this is how to do will in gambling..

[Byebyebtc]

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

Your right gambling can also be an be used as a source of getting a better economy, by jobs creation, tourism and hospitality etc.
But the point I want to make is that even as government benefits from it, it should also be regulated, not all countries accept gambling because of the bad side of it, ( criminal activity, increased addiction, fraud etc), but those countries that benefit from it should also keep it regulated and secured. I have heard of gamblers that won a huge amount of money but did not go back home with it.
So even as government gains from it they should also secure and maintain it for gamblers.

[ScamViruS]

Sports betting is a huge business and, whether you like it or not, it ends up being part of a country's economy. In places like England or Spain, it's not uncommon to see betting companies sponsoring football teams, appearing on jerseys, and even having a presence in stadiums. This means they not only move money among the players but also become deeply involved in the sports industry and advertising.

Sports betting now generates a lot of revenue, which means they have no shortage of funds to spend on advertising. Sports betting companies are spending huge amounts of money on the world's major sports leagues to expand their companies even further. This industry is a growing one, with more big players investing in it. And governments in countries where sports betting is legal are now also receiving huge amounts of revenue from sports betting. So sports gambling is now making a lot of economic impact, and since it is still a growing industry, it is becoming more and more attractive.

[Z-tight]

I'm not really sure how sports betting create more jobs or opportunities.

The gambling industry is a large one, with casinos setting up branches across different states in the country. There are also a great number of online casinos. Surely you will agree with me that manpower is required to keep these services running and that is how the gambling industry provides employment.

As long as gambling is taxed in a particular location, then it is surely contributing to their economy through taxation. And taxes generated from gambling can be used towards infrastructure and local development.

[crwth]

There are many reasons casinos exist, and it's not just about sports gambling. It's about generating money to help the economy, and a lot of people have mentioned it here already. I'm curious about how much, per country, it affects foreigners or tourism within the country. I know there are countries known for gambling, but up to what much? I think knowing that could help understand the economic value of casinos or gambling in general.