Pros and cons of Gambling

Gambling is a game of passion. For many, it is a symbol of status and devours more than just a pass time. Gambling is a huge source of revenue in many countries and is hence legalized with rules and regulations. Every company that offers to gamble should be monitored by a licensing authority of the government and one should abide by the rules. This article briefs about the pros and cons of gambling:

Pros

Revenue

Legal gambling is the highest source of revenue in Canada as per a research. They benefit the government and charities largely. The money is used for education, healthcare, roads and other valuable purposes for a better society.

Crime

Since gambling is legalized in many countries, it is not considered as a crime. So the myth of considering gambling as a crime doesn’t exist anymore. It is a completely legalized industry now which is authorized to play.

Problem Gambling

Even though gambling has increased there is no increased in the number of problem gamblers. It is as low as 2% and the addicts rarely cause any crime due to gambling or present risky behavior.

Careers

Casinos are known to give rise to well-paying jobs. An average annually salary can be estimated to be $50000 and to work in a casino you need not have to be a card dealer or a waiter. The job can also be maintenance personnel, service designations, high tech management, accounting and system design to the core. With so many back-end jobs, there is a considerable growth in careers in the field of gambling.

Improved economy and jobs are the two main reasons why gambling is good for a community. It is equally important to check out the facts and get into the better side of the game which is risk-free.

Cons

Revenue

Some researchers have noticed a significant loss in finances to the community since the bulk revenue generated from casinos goes directly to a private operator or is transferred to the province where it is played. Hence instead of the revenue going directly to the government, it is transferred to another level which doesn’t benefit the community sometimes.

Crime

With legalized gambling there is a lot of reduction in illegal gambling which in turn has seen a minor increase in crime rate. There are about 7% problem gamblers who are addicted to the game and so money laundering also occurs. Though this is a setback, the effects are negligible considering the huge revenue.

Problem Gambling

As opportunities in Punters Lounge gambling increased, problem gambling was also impacted. An increase in problem gamblers was seen for some years though it would return to normal after some time. About 3.4 % of the population is expected to be problem gamblers

Jobs

Though it produces some good earning careers, the impact of casinos on a person’s life can be negative. For a community that is dependent on tourists at casinos, it becomes difficult to sustain employment during a downturn.

It is still true in some countries that as long as it is not a bulk revenue, gambling is a risk. It does impact a lot on the lifestyle of a community. So the municipal government wins and the economy loses due to various facts such as crime, money laundering and addiction which cause the negative impact.

Lately, Gambling is considered as a business more than a game. Those who want to double their money or are looking for some huge returns on investments and have the trick to gamble always choose to go to a casino. A casino table game is a matter of royalty for many while there still are people who have undergone huge losses and lost everything they had to the game. There are families who are victims to gambling while there are families who lead a life of luxury from the money earned from the game. It is both positive and negative. It depends on the person who gambles rather than the myths. It is usually trick and prediction that plays a major role which is just luck. So, it is always a person’s personal choice whether to gamble or not to gamble for money.