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Online Gambling Guide by Jerry Whittaker…
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Initial Prejudice Against the Gambling Economy

 

 

by Jerry "Jet" Whittaker

November 20, 2006

 

Gambling is no doubt creating the maximum revenue in the country. Even so, once the initial prejudice against online gambling employment curbs, itís criticized for the negative impacts on the people and society. That is because only the rich can afford to shell out the dough to gamble. If they loose it does not hurt them but if they win, it strengthens their financial condition. The poor remain completely out of the scenario. And the people who gamble on a regular basis get an addiction, which is responsible for the growth of crimes like stealing, looting, cheating etc. And the addiction leaves no room for other activities, resulting in spending money recklessly in the greed of earning more.

Gambling and positive economic development 

But no government can deny the benefits to the economic status of a country due to gambling revenue. And this is why instead of closing gambling outlets the government legalized it. This created a middle path for both the gamblers as well as the non-gamblers. At the first instance legalizing was obviously discredited because they had the following out comings once they commenced:

  • Overall increase in the taxes.

  • People loosing jobs.

  • Other businesses apart from gambling getting distorted.

  • High-rise crime back on the scenes.

  • Extensive social welfare costs to the society and government.

Gambling and tax revenue

Even as earlier it was given tax subsidy, later they levied taxes on gambling activities at a flat 50% rate. To avoid gambling to go out of hand, it has been restricted from contributing in anyway to political campaigns. And this has been rightly done so since the newly developed gambling agencies have become so widespread that they are in a position to dictate the social, economic and even the entire tax policy. But legalizing them gives a tab on it, which can be tapped on if they start going off track.

 

 

 

 

 

 

 

 

 


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