Why gambling should be legal and regulated is quite a hot topic of discussion in the present world. Everyone has different opinions about it, and there is strong logic from both sides. However, a lot of people will agree that gambling should be legalized as long as the assurance of its regulation is also given. In this article, we will discuss all the reasons and benefits of this matter.
Legalizing gambling can be a huge economic benefit for countries
The main source of income of a government is, as you might already know, taxes. If gambling is legalized, then the government will have the right to impose taxes on casinos. And as you can imagine, the revenue that can be earned from taxing casinos alone is capable of creating a massive positive impact on the financial condition of a country. Every casino has a house edge, and it’s not a secret that the house always wins. So all casinos, especially the big ones with a large set of games and players, are undoubtedly earning a lot of money. All this money is going to the casino owner and the employees. There’s still quite a lot of it for the government to take advantage of and benefit themselves as well as the rest of the country.
Many countries’ economies have experienced a significant boost from casinos paying tax on their gross gaming revenue (GGR). Though it varies for every country, it’s always a percentage of the net profit. For example, the GGR can be as high as 83.5% in France, whereas it falls around 50% in the UK. And taxes aren’t the only reason why it will be economically beneficial to legalize gambling. Another way it can help the economy is by increasing the number of job opportunities in a country. You might be surprised to hear this, but in the year 2018, the gambling industry provided jobs to as many as 166,741 people in the state of Nevada!
This will boost the economy of a country by increasing the Per Capita Income or PCI. As a result, the living standard of a country will improve as well, and it will become more financially self-sufficient.
Contribution to the tourism industry
If anyone asks you to name the kingdoms of casinos, then you’ll undoubtedly say Macau and Las Vegas. These two places are extremely famous for their huge, glamorous casinos and an unmatched collection of the best and most exciting casino games. Every year, people from all over the world flock to these casinos to get a taste of the glamorous experience.
If the casino’s comps are good, it will attract high rollers from around the world, who will end up pumping a lot of money into the country’s economy. There are a lot of habitual gamblers who deliberately travel the world in search of great casinos to experience their lives and learn new things about gamblings from new cultures.
In fact, it’s not just a few gamblers. Gambling destinations can also attract all kinds of people, starting from families on vacation to bachelor/bachelorette parties and wedding-goers. People will visit a country for the sole sake of gambling and then tour the other tourist attractions, thus boosting the tourism industry’s revenue.
A great example of the rise of casino tourism are in places like Cambodia, Singapore, and the Philippines. Certainly, it is really proving to be a big boost for the industry, not to mention cruise ship gambling. It also helps out other businesses. If the casino doesn’t have on-site restaurants, then surrounding areas are quickly filled with eateries and stalls, and it becomes so easy to find customers there.
Not legalizing gambling is not preventing the operation of casinos anyway
There are still many countries in the world where gambling is illegal. Under that law, casinos are also illegal, and the owners of it are all punishable by law. Does that mean there are no casinos existing in those countries? Absolutely not. In fact, since online casinos are easy to make and operate these days, most countries already have a huge catalog of national casinos operating at all times, legal or not.
So banning it is of no use; it only gives more space for underground or black market gambling. It’s not benefiting the government in any way, only increasing the workload of law-enforcing agencies. Instead, legalizing it is going to not only be a financial benefit for the whole country; but it will also be less hassle.
The regulated gambling industry will provide more security to the gamblers
Now, only legalizing gambling and leaving it at that is not going to work. In fact, it will be straight-up irresponsible on the government’s part. After all, people’s safety and security should always be the top priority, and the regulated gambling industry will protect gamblers.
As mentioned before, people will gamble anyway, whether it’s legal or not. They can’t be stopped from doing something that gets them easy money without having to work particularly hard for it. So in a country where gambling is illegal, the mobsters will be the ones running the industry. And needless to say, they are all dangerous people capable of scamming innocent players in the worst possible way.
Because it being against the law, people who want to gamble will go underground to do it. By doing so, they will be pushed into the hands of the criminals. They could be scammed of their life savings. Likewise, there will be nothing to protect them from that. Many other crimes are also born from gambling, many of which might go unnoticed because of this.
But if players have access to regulated online casinos and brick and mortar ones, they will be protected from such situations. Another thing to note is that in countries where gambling is illegal, support groups for gambling addictions also aren’t provided. But there are gamblers, and many of them will live with addiction without professional help. Legalizing it in a regulated manner will also let them access such support groups.
Therefore, it’s quite clear that there are many benefits of legalizing gambling and regulating it. Governments should consider these matters and work on them. As everyone in staying indoors or at home during these Covid pandemic, let’s enjoy Epic Win free RM10 for more fun! Good luck and stay safe. Please remember to always play responsibly.