BENEFITS OF GAMBLING• Tourism One clear-cut advantage of gambling adds up to a big boost in the local economy• Employment Gambling can help the economy by creating jobs for locals. This is true in all areas, whether the local economy is poor or not.• Better Health (This might sound crazy) Gambling has been proven to actually help senior citizens to reduce their health problems. Studies have shown that seniors who gamble aren’t as likely to suffer from - Depression - Alcoholism etc. according to the University of Yale, gambling helps keep the minds of the elderly sharp and gives them a fun recreational activity to do.
• Charity For centuries now, gambling has been used by state-run and charity organisations to raise money for different causes. Some of the most common ways that charity organisations use gambling to raise revenue is by holding - Large Bingo games, - Having lotteries or raffles, and - By holding charity poker events.• Entertainment Probably the main reason that people gamble is for the entertainment value that it providesthem. Going beyond just the entertainment provided by the act of gambling, going to a resort andcasino is often something that many gamblers look forward to as it provides them with a getaway of sorts.• Tax Revenue Most casinos will earn over 50% of their money from non-local people and a good chunk ofwhat they earn will go towards taxes they must pay to the community. Seeing as how many casinos have to pay taxes that are above 20% just based on their total revenue, this is normally far more money than other businesses are going to be brining intotheir area.
MAIN BENEFITS TO THE ECONOMY Tourism Gambling Employment Tax
MACAU• Tourism is the backbone of Macaus economy, and much of it geared towards gambling• Due to the opening of the new hotel casinos and Chinas easing of travel restrictions, there has been a rapid rise in the number of mainland visitors• From 9.1 million visitors in 2000, arrivals to Macau has grown to 18.7 million visitors in 2005 and 22 million visitors in 2006, with over 50% of the arrivals coming from mainland China and another 30% from Hong Kong. Macau is expected to receive between 24 and 25 million visitors in 2007• Macau also received the Future Award 2007, voted by 26,000 German travel trade members of GoAsia, for being regarded as the most promising future tourism destination in Asia. Macau is currently rated as one of the worlds top tourism destinations by the World Tourism Organisation
UNITED KINGDOMKey facts: There are 94,600 people working in the gambling industry. 19% of the workforce has an NVQ Level 4 or above qualification. The majority of the workforce has a NVQ Level 2 qualification (26%). 14% of the workforce has no qualifications. 69% of the workforce is employed full‐time
Social Costs of GamblingCrime Family Problems Bankruptcy Depression Suicide
CONCLUSION• Even though gambling has been one of the most controversial ways for a state or country to make money through taxation, there is no doubt that the money that is made from gambling has helped local economies become more viable.• The benefits of gambling outweigh the potential costs. Building gambling facilities, such as casinos, creates jobs and provides income to a community in an already weakened economy. As far as the potential downsides, an individual is responsible for regulating their own gambling and knowing when they have a problem.
REFERENCES http://www.viaden.com/products/gambling-industry-facts.html http://oldfraser.lexi.net/publications/digital/gamblingwithourfuture.pdf http://www.statcan.gc.ca/pub/75-001-x/topics-sujets/pdf/topics-sujets/gambling-jeuxdehasard-2009- eng.pdf http://www.statistics.gov.uk/hub/economy/government-receipts-and-expenditure/taxes-and-revenue  http://www.777.com/casino-articles/benefits-of-gambling https://www.uktradeinfo.com/index.cfm?task=bullbett&hasFlashPlayer=true http://graafix.blogspot.com/2011/05/waving-flag-animation-of-uk.html http://readingroom.skillsfundingagency.bis.gov.uk/sfa/nextstep/lmib/Next%20Step%20LMI%20Bitesize% 20-%20People%201st%20-%20gambling%20-%20Jun%202010.pdf http://en.wikipedia.org/wiki/Economy_of_Macau#cite_note-DSEC_tourists-13 “ DSEC - for the current data of visitor arrivals by place of residence". DSEC. Retrieved 2008-01-08.