Economic impacts of gambling.


Casino gaming has experienced such a growth in countries like Macau and the United States and with time the casino gambling is being accepted in different countries in the world. Some countries still feel that casino gambling affect the economy negatively while others are already using casinos gambling as a strategy of improving the economy of the country. The truth is the locals especially are enjoying the benefits as the people who visits the casinos tend to contribute to the local economy and the local industries such as the hotels are growing at a very high rate. The following are some of the economic impacts of casino gambling.

  • Creates job opportunities for local employees.

The locals can get different jobs in the casinos. One does not have to be a gambler to get a job in a casino. There are jobs like security guards and they are really well paying. Since most casinos comes along with pubs and restaurants, there is also employment opportunity for the attendants and research shows that people who works at casinos get to earn more than the national average.

People will also need to be entertained in the casinos and this contributes to the growth of talents because the local artists are always welcomed to perform in the casino. This contributes greatly to the growth of the local area and also economic growth of the country.

  • Gambling is a powerful economic development tool.

The basic concept for economic development is usually increasing the net exports and decreasing the imports. When the exports are increased and the imports decreased, the income increase and this can be done by starting projects like casinos if there if there is nothing to export.

 This will bring in visitors to the region which will stimulate the growth of the economy. In addition to attracting foreigners, the casinos will obviously be paying taxes to the local government. Other businesses such as theme parks, gas stations and hotels will develop too.

Taking an example of how gambling can contribute to the development of the economy is Macau. Macau is one of the richest countries in the world, you can google to confirm. This country has its economy depending on gambling and casinos contributes to more than 50 percent of her economy. A lot of people travel across the world just to visit the country for gambling purposes.

  • There is a probability of winning good money.

In as much as the casinos will contribute to the growth of the economy of the country of the country and the local area, it also have an impact to the players. There people who have become rich via gambling and they are doing great things to the society after they invested their winnings. For example Bill Benter makes millions of dollars via gambling and he is known as a big contributor to charity. If the people win and invest it will definitely contribute to economic growth too.

The article is published by the consent of ** and originally available in German.

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