Legal Gambling in various countries

Gambling is popular worldwide and is being done in every part of the world. There are countries
where it is legalized as well as other where it is banned. There are many positives and negatives
impacts of gambling, however, the benefits of legal gambling outweighs its disadvantages on the
economy. It surely impacts the economy of the country but in an uprising way.

The countries in which gambling is legal few of them are Australia, Canada, Norway, Finland,
Singapore etc.

The question which arises is ‘how it impacts the country’? The answer is legalized gambling is a
boost to economy as it brings revenue to the government. Not only the revenue but also create new
job opportunities, builds infrastructure and thus results in the boom of the economy and also
growth of the country.

Further, it can be explained as Governments levy high taxes on the operations of gambling which
is higher than any other industries, this a common method of revenue generation which is being
practiced by most of the European countries, United States and Australia. The other method is
government being involved in the gambling provisions and receive revenues, in the form of
lotteries, sports betting and electronic gambling machines etc. The third method is taxation of the
gambling winnings. All of these comprise up in the higher revenue generation as taxes are being
levied on every aspect of gambling and thus helps to grow the economy. The revenue generation
which is being made from gambling is higher than many other industries which are there in a
country. Also, they play an important role in the revenue generation as usually the taxes which are
being levied on the gambling are much high thus resulting in higher collection of revenues.
Legalized gambling also help to downsize the illegal methods of money transactions and tax theft
and all that money can be calculated and can be taxed.

Legalization of gambling has also played an important role in the job sector in the countries where
it has been legalized as more job opportunities are being created as to run any business or an
organization manpower is needed same is the case in this scenario as manpower is also needed
thus resulting in higher job opportunities where it is being done. Thus it also provides a stability
to the local people and also a new industry is being developed in which jobs are available for the
people. Thus, it also helps in a positive way for an economy as it also helps them to grow in a
sustainable environment.

Legalized gambling also helps in promoting the tourism of the country as it is one of the major
attractions for the people around the globe. Tourists visits in high numbers where gambling is
being done in a legal way as it is an eye-catcher. People visit the places where they can have fun
and make some money by trying the luck. It promotes the tourism. Also, tourism is a major part
of generating revenues for the economy as it directly brings the foreign income in the economy
and where gambling is being legalized the chances of revenue generation becomes more higher as
tourists will also gamble, thus impacting the revenues.

Legalized gambling in the countries where it has been done has also impacted on the infrastructure
as it is also a major part in the gambling sector as the casinos and other places are being developed
in such a way that they look lavish and also other following subsidiaries such as hotels and
restaurants are being developed where the gambling is done thus impacting in the build of the
infrastructure in that area. The building of infrastructure will also provide a boom to the other
direct and indirect industries associated with it and helps to keep the economy in the running
condition and its boost.

It also helps in boosting up the retail sales as where gambling is legal there will be a large number
of tourists and thus retail sales also increases as there will be more consumption of food and
beverages which will be purchased locally and also other products which are being purchased by
the tourists will also help in generating revenues.

Where gambling has been legalized and high revenues are generated it has helped in the growth of
the economy as well as countries legal as well as social welfare. As in most of the countries where
gambling is legal the taxes which are levied on the people whether direct or indirect has been
reduced and also the money which is been generated is being used in building up the infrastructure
as well as in the social welfare causes such as improved public utilities, transportation, medical
facilities and education etc.

There are also negative effects which comes up with the legalization of gambling in the country.
Some researches show that there has been higher crime rates which are upto 300% times more
than the places where gambling is banned. It will be true to say that it is also an addiction and
people lose a major part of their income in gambling than earning from it.

The countries or places where gambling is being legalized, many local authorities has also come
forward to promote gambling but in a way that it should be taken more as an fun and entertaining
activity rather than ending up as an addiction among the people and a negative effect on the society.

Thus we can come to the conclusion that gambling is an entertaining activity and also has its
benefits to the economy and society. In countries where gambling is illegal there are more chances
of fraud with people and also illegal cash flow, whereas in the other scenario it is being made sure
by the government of the country that people are being safeguarded from fraud activities as well
as proper taxes are being collected for the revenue generation.

Research

For the above research the references has been taken from various news articles, books and online
sources. There were numerous examples of the economies which has legalized gambling and what
impact it has made on their economy and the growth of the country. The research has also helped
in understanding the effect, impact and role which legalized gambling has created on the country.
It has its positive and negative effects on the society and economy.

All the research has resulted in the outcome and has also made understand the scenario of the
countries where gambling is legal.

The references are taken from the following sources:

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https://www.casino.org/blog/gambling-and-the-law-the-good-the-bad-and-the-ridiculous/
http://www.gambleore.com/top-ten/top-10-gambling-nations/
https://www.casino.org/blog/gambling-and-the-law-the-good-the-bad-and-the-ridiculous/
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Alberta Lotteries and Gaming. 1994. Gambling and Problem Gambling in Alberta. Edmonton,
Alberta. January.

American Psychiatric Association. 1994. Diagnostic and Statistical Manual of Mental Disorders.
("pathological gambling") Vol. 312.31, pp. 615-618.

Bartlett, John. 1968. Familiar Quotations. 14th. Edition. Boston; Little Brown.

Better Government Association. 1992. Staff White Paper. Casino Gambling in Chicago.
Chicago, IL.

California Governor's Office of Planning and Research, 1992. California and Nevada: Subsidy,
Monopoly, and Competitive Effects of Legalized Gambling. ES-1. Sacramento, CA: California's
Governor's Office. December.

Clotfelter, Charles and Phillip Cook. 1989. Selling Hope, Cambridge, MA: National Bureau for
Economic Research, Harvard University Press.