Gambling
Benefits
March 07, 2006
The gambling is an
industry regulated by agencies of state, and federal
government. These governmental agencies establish
regulations that focus on the policy functions of
gambling entities. These agencies ensure the integrity
of the games offered to the public, and assume the
responsibility to protect the public against unfair or
dishonest gamming practices by those gambling entities.
The gambling industry is growing every year; the
“National Gambling Impact Study Commission” states,
Furthermore, the commission estimates that the figure
will increase in coming years with no end insight.” The
rapid growth of the gambling industry has imparted
economic benefits
and social costs. Do the economic benefits justify the
social costs of the ever growing industry of gambling?
The economic benefits are far greater than the social
costs, and the gambling industry will enhance society as
a whole, and with future planning (education of social
costs incurred from gambling) eliminate or minimize the
social costs.
The significant social costs are gambling, and crime.
The social costs that the gambling industry generates
encompass “pathological gambling, crime, and other
maladies (e.g. prostitution, and drugs).” The “American
Psychiatric Association” classifies “pathological
gambling as an impulse control disorder that ranges from
unsuccessful efforts to control, cut back, or stop
gambling”; to committing “illegal acts such as forgery,
fraud, theft or embezzlement to finance gambling.” The
gambling halls are the actual Crime places where you get
drugs etc, are social costs that would be associated
with any social environment that generates high volume
of public and private cash access. The commission says
that, “125 million American adults gamble” and the
people who have negative consequences with gambling are
estimated to be 7.5 million American adults. That
equates to 6% of the American adults who gamble. The
social costs are minimal compared to the economic
benefit of jobs in low income and high unemployment
area.
Benefits of gambling:
It is an economical benefit that gambling industry
generates in areas that have high unemployment. This is
especially true when casinos are being built. The fields
of employment range from construction (casino and hotel
building), internal and external building and ground
maintenance, card dealers, security, hotel, office, and
management personnel. He further stated, “We have
created more than 1,300 jobs at our hotel and casino.”
His testimony was given at the building of the casino
had improved her family’s economic status to a level
that allowed her to qualify to purchase a home, and
afford better health care for her family.” As the
economic status improves for the people in the area of
the gambling entities the investment and economic
development benefits are generated.
The economic development benefits are generated by short
supply and high demand for goods and services from the
patrons who gamble, and the employees who work at these
gambling entities. The variety of goods and services
demanded can be gasoline, grocery, prepared food
(restaurants), entertainment, bank services, or cheaper
overnight accommodations. This short supply and high
demand indicates a diverse financial market where
profits can be made.
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