Our Opinion

Are Casinos Good For The Economy?

Gambling is not a recent thing and it has been around as long as humans lived.http://www.thecasinobonusguide.co.uk/777-casino/ But Casinos which allow controlled gambling are a relatively newer concept. It was only in 1638 that the first casino was established. Known as the Ridotto, it was very similar to the modern day Casino.

Casino or not, gambling has always been seen with a negative connotation. But like everything, even Casinos have a good side to them. It is not without a reason that Las Vegas is swimming in money or that Monte Carlo is the dream destination for many who want to earn filthy amounts of dough.

The not so good

It is also the harsh truth that gambling leads to an increase in crimes, financial inequality among people and even a laid-back attitude when it comes to working. In terms of the economy too, it does not improve circulation of money. It rather simply helps in the transfer of money between individuals and those who are already rich.There is also the bigger issue of problem gamblers.

How to identify problem gambling?

If you gamble for any of the reasons stated below, then you could be a victim of problem gambling.

  • Gambling as a way to forget personal problems
  • Using up money meant for other purposes to gamble
  • Even going to the extent of stealing in order to gamble
  • Using gambling in the hope of recovering from financial losses
  • Gambling beyond one’s capabilities
  • Gambling simply to impress others
  • Gambling to experience a false sense of VIP status

The good

  1. Entertainment

Just like the movies, malls and amusement parks casinos are a great place for responsible gamblers to have a good time. There is great food, music and even a chance of winning some big prize money.

  1. Tourism

Casinos also can bring in revenue by improving tourism. When there is a popular casino nearby, it promotes hotels and other such businesses.

  1. Socializing

Casinos are also great places for socializing. Even though you can gamble online these days, talking to people while you play is something that you can get only in casinos. It is also a fun place for friends to get together.

  1. Earn

Though not everyone can earn a living by gambling, it is a fact that there arehard-core gamblers who really earn their bread by gambling. Whether or not you want to earn your living by gambling, you can surely expect to win a big prize money if you learn the tricks of the trade.

  1. Employment

Casinos are not just all about games. They come with restaurants, resorts and a host of other services that create employment opportunities.

  1. Tax revenue

Casinos contribute to the government through tax revenue. Even in places where there are not too many casinos like Vegas, they do account for a small number of tax receipts. Even if they don’t generate a lot of revenue in such cases, they can help reduce other tax increases and therefore are helpful in their own little way.

How can Casinos help the economy?

Even though there are other negative aspects, casinos can be a good thing if they are used in the right way. Small changes in the way casinos operate can go a long way in sustaining this form of entertainment and helping the economy in turn. Here’s how.

  1. The location

Casinos can help develop the place that they are located in. So if a place next to a populated locality is deserted or underdeveloped, then that place is an ideal place to establish a casino. This will help expand the already populated nearby city and also help develop the new location. In fact, this is the actual story of Las Vegas which was started in a desert.

  1. The number

When it comes to the ideal number of casinos in a location, the good number is one. This way not only the casinos will make the maximum profit, it will also improve the chances of winning for gamblers. More revenue simply means more tax benefits for the government too.

  1. The people

For the economy to thrive other businesses should thrive too.Casinos should help other businesses thrive by directing their gamblers to them. Also, another mistake casinos do its wipe out their resident population. If casinos co-operate and co-exist, then they can truly help in the economy.