Gambling is good for an economy?

Question

There are some studies that show that the expected social cost of gambling is $3 in costs for every $1 in tax revenue. Are there any studies that refute that claim? While there are certainly many societal costs to gambling, I feel that the study I am reading doesn't adequately cover the societal benefits.

The study I am referring to is at http://www.gcpartnership.com/uploadedFiles/Advocacy/SocialCostfull%20report%20aug%2015-24.pdf

Answer 1

i have no idea

Answer 2

Gambling as it is widely practiced in society today is a form of regressive taxation.

Progressive taxation refers to staggered rates of taxation based on income levels, or ability to pay. Gambling basically taxes the poor, who dream of striking it rich by buying a ticket or going to the casino. Sure, there are rich people who gamble and they, as individuals, tend to lose bigger sums. But over all I would wager (pun intended) that most of the profits from gambling come from the poor and the middle class.

That government is often at the opposite end of the gambling equation (i.e. they are 'the house') means that the profits go into public coffers where they can and do effect some social benefit. But at whose expense?

Doesn't this just allow government to go further in cutting taxes for the wealthy (most tax cuts benefit them disproportionately)?

Why is it that people generally see taxation (money the government takes from us to perform socially beneficial things) as bad but they are willing to accept that gambling at government institutions (generating profits that the government can use to perform socially beneficial things) as good?

It seems to me an inefficient and deceptive way of organizing a society's finances.

Answer 3

I am sure if you did a search looking for the various lottery corporations, there would be an arguement in favour of the benefits for hundreds of jobs in the local economy. Having a lottery or casino locally may have its deterrants, but at least the money stays in the community for a while anyways. I cant help with studies, but maybe point you in that direction.

Answer 4

tsk tsk porn is good for the economy too it generates about 3 billlion a year, just think what if that was made public? and gay marriage! oh man those guys ll make so much money the economist ll be pooping rainbows and fartin butterflies! but sadly that is not the case, the bible thumpers in this contry doesnt want our children to see such hideousness! oh laudy! but yeah thats why oh and the gambling thing? its a bible thumping thing too because gambling is a sin:) viva la revolucion!

Answer 5

THE GAMBLING CAPITOL OF THE WORLD WAS BUILT ON
LOSERS, NOT WINNERS!!!!!!!!!!!! YOU FIGURE IT OUT!!!!