The benefits of_gambling_to_the_economy

THE BENEFITS OF GAMBLING TO THE ECONOMY

INTRODUCTION

“To risk something of value on the outcome of an event or contest.”

Casinos

Sports Bets Games of Skill (like hoops, pool)

Video/Arcade Games

Lottery Internet

Bingo

Common Types of Gambling

Source: Carlson & Moore, 1998

HOW COMMON IS GAMBLING!

BENEFITS OF GAMBLING

• TourismOne 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.

• EntertainmentProbably the main reason that people gamble is for the entertainment value that it

provides them.

Going beyond just the entertainment provided by the act of gambling, going to a resort and casino 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 of what 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 into their area.

MAIN BENEFITS TO THE ECONOMY

Gambling

Tourism

TaxEmployment

Global Gambling Revenues (GGY), by Region

CANADA

CANADA

MACAU

• Tourism is the backbone of Macau's economy, and much of it geared towards gambling

• Due to the opening of the new hotel casinos and China's 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 world's top tourism destinations by the World Tourism Organisation

UNITED KINGDOM

UNITED KINGDOM

Key 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

Crime

Suicide

Social Costs of Gambling

Family Problems Bankruptcy Depression

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.

ANY QUESTIONS?

DON’T go to Google .com

Ask Me

REFERENCES[1] http://www.viaden.com/products/gambling-industry-facts.html 

[2] http://oldfraser.lexi.net/publications/digital/gamblingwithourfuture.pdf

[3] http://www.statcan.gc.ca/pub/75-001-x/topics-sujets/pdf/topics-sujets/gambling-jeuxdehasard-2009-eng.pdf  

 [4] http://www.statistics.gov.uk/hub/economy/government-receipts-and-expenditure/taxes-and-revenue  

  [5]  http://www.777.com/casino-articles/benefits-of-gambling

[6] https://www.uktradeinfo.com/index.cfm?task=bullbett&hasFlashPlayer=true

[7] http://graafix.blogspot.com/2011/05/waving-flag-animation-of-uk.html

[8] http://readingroom.skillsfundingagency.bis.gov.uk/sfa/nextstep/lmib/Next%20Step%20LMI%20Bitesize%20-%20People%201st%20-%20gambling%20-%20Jun%202010.pdf

[9] http://en.wikipedia.org/wiki/Economy_of_Macau#cite_note-DSEC_tourists-13

[10] “ DSEC - for the current data of visitor arrivals by place of residence". DSEC. Retrieved 2008-01-08.