Sep 30, 2014 Casino companies have been vying for licenses in Massachusetts. Native American operations are expanding. There are a lot of moving pieces. Gambling has served as one of the premiere forms of entertainment known to human beings. The diverse nature of gambling is one of the major reasons behind its attractiveness and irresistibility. The different types of gambling include casino games, fixed-odds gambling and sports betting. Some of the most popular casino games in the market today. Possibility of legalizing casino gaming in order to solve problems like illegal gambling, corruptions and to stimulate the economy. For this reasons, a thorough understanding of the reasons the Chinese government might consider legalizing casino gambling is necessary for the benefit of both industry professionals and decision makers.
Benefits Of Legalized Gambling
Benefits of Legalized Gambling
Gambling is a way of betting one’s money or possession with an unknown outcome and of which the main goal is to acquire more of the said money or possession. ‘Â Various groups in society have opposed this type of activity, with many cities and countries totally banning it. ‘Â But there are also situations wherein some gambling activities are legalized by certain cities or jurisdictions. ‘Â Proponents and supporters of legalized gambling point the following benefits:
1. Job Generation
Legalization of gambling activities can create jobs for many people in a certain city or country. ‘Â Jobs are generated because of the flow of investments and the creation of gambling places. ‘Â When people have jobs, communities will also grow and prosper in the process. ‘Â For supporters of legalized gambling, jobs for people will basically have a positive effect in the sense that these people will be able to help boost the economy with increased spending power.
Benefits Of Legalized Casino Gambling
2. Funding for various projects
Governments will also earn from legalized gambling activities. ‘Â With these earnings, various projects may be funded which may be a big help to some people and organization s. ‘Â Government projects may mean improved and better lives for the people in a particular community.
Legalized Gambling Cons
3. ‘Â Boost tourism
Legalized gambling will not only attract more investments into a country but will also invite more tourists to come to a particular city or country. ‘Â Many so-called gambling cities have proven that legalization of gambling can help tourist arrivals to go up. ‘Â Gambling places can add up to the choices of activities that a particular city can offer for example.
Despite many concerns on the negative impact of legalized gambling to a particular area or city, supporters of this activity point out that the various benefits really do outweigh the costs. ‘Â Sleepy towns and stagnant economies may be boosted by legalizing gambling activities.
Gambling is an industry that is undergoing tremendous change. It was not too long ago that Nevada was the only state in the union that allowed casino gambling. Today, numerous states either are considering legalizing gambling, or have already done so. There are two factors that are driving the change. First, Native Americans have won the right to establish casinos on their lands regardless of the laws of the state in which they are located. The establishment of these casinos has softened the general public’s attitudes toward casino gambling and has led to the introduction of legislative initiatives that permit it, or to voter referendums on the issue. Often, in each situation, the initiatives have resulted in outcomes favorable to gambling. The other factor that has led to legalization of gambling is the economic impact. Many of the regions where gambling has been legalized have realized untold economic benefits in terms of taxes, jobs and development of infrastructure, etc.
Despite the economic developments, the idea of legalizing gambling is not without controversy. Many argue that despite the economic benefits, there is also associated tragedy as people who are addicted to gambling have been known to gamble until they have lost everything and have wreaked havoc on their families and personal lives.
Casino gambling is not the only type of gambling that exists, nor is it the only kind of gambling addressed by state laws. As can be seen in the following chapter, there are many different ways to gamble. The most common subject of regulation is betting. Pari-mutuel wagering is a betting pool in which those who bet on competitors finishing in the top three positions share the total amount bet, less a percentage for the management. Horse racing, dog racing or betting on sporting events are those most frequently and specifically banned. However regulation of regional events is common. Alaska lists about ten different events that are allowed, including many that would be unthinkable in the south: Deep Freeze Classic, Snow Machine Classic, and the Ice Classic are examples. Florida lists a number of legal gambling activities that relate specifically to the state’s large number of retired citizens: penny-ante games with winnings not exceeding $10 …. including poker, pinochle, bridge, dominos, mahjong that are conducted by adults within a dwelling. One of the more unusual prohibitions is found in Massachusetts where gaming is not permitted within one mile of a cattle show or military muster.
Overall, the subject of legalized gambling as an industry is far from settled and is likely to change regularly in the coming years.