Question by Koreanairflyer: What are the benefits of legalizing gambling?
I was assigned a project today. This project is a debate and my group and I have to argue over our topic assigned. The topic is to legalize gambling. What are the benefits of legalizing gambling? Any answer would be good. Thanks!
Answer by INSOMNIAC
Society Benefits from Legalized Gambling.
Legalized 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. The 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, “in the year 1998, people in the United States lost fifty billion dollars in legal wagering.” 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. Does 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 “pathological 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.” Crime and other maladies (e.g. prostitution, and drugs) are social costs that would be associated with any social environment that generates high volume of public and private cash access. It is noted by the “National Gambling Impact Study Commission” that “crime” and “pathological gambling” has the potential to become more widespread as the availability of legalized gambling increases. The commission notes 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.
Jobs are 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. An example is the testimony of “Prairie Island Indian Community” president Audrey Kohnen who stated, “Treasure Island Resort & Casino is the number one employer in Goodhue County,” located in the Seattle, Washington area. He further stated, “We have created more than 1,300 jobs at our hotel and casino.” His testimony was given at “National Gambling Impact Study Commission” (NGISC) on January 7, 1999. Furthermore, Mr. Audrey Kohnen read letters from different individuals; one such letter from a single mom who exclaimed that, “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 investment and 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. Profits that exist within the diverse financial market give cause for people to make the investments in different business entities. It is the establishment of these business entities that generate the area’s (surrounding community) economic development. An example of the investment and economic development benefits of the gambling industry is the extensive growth in population and construction development being done in the city of Las Vegas, Nevada. According to the “National Gambling Impact Study Commission” the city of Las Vegas, Nevada is the “fastest growing city in the United States.” It is the abundance of investment and economic development that generates the enhancement of tax revenues for the local government, state government, and federal government.
Enhanced tax revenues are another economi
Know better? Leave your own answer in the comments!