Should we Legalize Gambling or Not…?

What is Gambling…?• Gambling is the wagering of money or

something of material value on an event with an uncertain outcome with the primary intent of winning additional money or material goods.

Three types of Gambling…

• Recreational Gambling.

• Problem Gambling.

• Compulsive/Pathological Gambling.

Definitions

• Recreational Gambling: Only for fun and does not have a negative impact on the individual or the family.

• Problem Gambling: Gambling has a negative impact on the individual, family & work; but the individual is still able to function at a minimal level.

Definitions

• Pathological gambling : Pathological gambling is being unable to resist impulses to gamble, which can lead to severe personal or social consequences.

Types of Gambling Games

• Lottery• Bingo• Card Games• Skill Games (bowling, pool, golf)• Sporting Events• Horse/Dog track• Casino Games• On-line Wagering• Stock market

Pros of Gambling

• Tourism• Employment• Better health• Charity• Entertainment• Tax revenue

Tourism

• Lavish casinos are often seen by people from out of town as a great weekend or vacation destination because they provide them an avenue for their gambling hobby, normally a fun experience.

• People in countries such as United Kingdom, Italy, etc indulge in the gambling activity for fun, pleasure and relaxation

Employment

• More jobs are created in casino-hosted regions.

• The world’s biggest gambling destination in Las Vegas, Nevada, attributes over 60% of its city employment towards casino-based jobs alone.

• it also supports over 100,000 jobs in British economy

Better Health

• Gambling has been shown to help older people and retirees drastically reduce their health problems.

• They aren’t as likely to suffer from depression, alcoholism, or bankruptcy as older people who don’t gamble.

• Charity organizations use gambling to raise revenue is by holding large Bingo games, having lotteries or raffles, and by holding charity poker events.

• some schools out there hold events such as a casino night to build money for their yearly operations

Charity

Entertainment

• Gambling can provide quite a thrill to those that do it and the prospect of winning money is always an added bonus.

• Many casinos provide customers with a vast array of shows to make the gambling experience even more fun.

Tax revenue

• Economic impact of betting industry, in terms of direct and indirect influence, is to the tune of 6 billion pounds ($9.3 billion) .

• casinos have to pay taxes that are above 20% just based on their total revenue, this is normally far more money than other businesses are going to be brining into their area.

Cones of Gambling…

• Financial strain• Depression• Criminal Activity• Impact on childrans

Financial Strain

• Personal savings and income are squandered• Money is taken from other economic uses,

investment, and charities• Poverty is reinforced because poorer gamblers

take greater risks in the hopes of a big win

Depression

• Because of tension in mind that you have lost a great amount of money which can cause a disaster in both your professional as well as personal life.

• Depression can later leads to Use of alcohol, sleep, or drugs to escape from tenssions.

Criminal Activity

• Addictive gamblers often resort to burglary, theft, larceny, embezzlement, and similar crimes to get cash.

• As with criminal activity, the chance for greater rewards than ordinary employment is a disincentive to the work ethic.

Impact on Childrens

• Parental gambling has negative effects on children.

• Parental gambling is linked to inadequate coping skills, relationship and behavior problems, increased potential for children to become problem gamblers when they grow up.

Why legalise gambling ?

• Gambling-related activities could be marketed as 'pleasure' or 'fun' part of tourist activities.

• This can help attract more foreign tourists and valuable foreign exchange

Why legalize gambling?

• It allows higher freedom with respect to what one can do with his wealth

• It is a source of revenue for the government• It eats into the illegal gambling market• Helps curb match fixing due to point number 3• The losses made in gambling are personal ( no

one else is affected).

Why legalize gambling?

• The growth of gambling industry can have positive, multiplier effect on other sectors - such as making casino games, software testing, real estate, advertising, banking and finance, hotels, cruises, pubs, etc.

Why legalize gambling?

• If gambling is legalised in a controlled manner , crores of rupees in black money involved in illegal gambling activity currently could be made available to the legal economy.

• Without a strong regulatory structure to oversee this illegal activity, government loses huge amount of revenue that could be put to better use - like building schools, hospitals, infrastructure, etc

Countries where gambling is legalised…….

• United States• United Kingdom• China• Singapore• Thailand• Nepal• And Goa in India

Why not legalize Gambling

• Gambling can cause loss of all wealth.

• In big games between rich people, gamblers put lots of money, even all their wealth and if they are not lucky they lose all their money.

Why not legalize Gambling

• Gambling makes people greedy and angry.

• . If gambler wins a lot of money he/she becomes greedy and wants to play again or when gambler loses his/her money he/she becomes angry and wants to play again and again

Why not legalize Gambling

• Negative effects of gambling on Family life.• Does not care about his/her family, comes

home late and loses lots of money in one game which he/she gained in many years.

• Because of these motives appear a lot of arguments between husband and wife. Thus arguments finish with divorce which affects children’s psychology in bad way.

Why not legalize Gambling

• Possibility of suicide.• After losing everything such as family, wealth

and respect in society losers become hopeless and miserable, so they see suicide as only way out from the troubles.

Solution

• Need to set up national level gambling regulatory authority on lines of UK gambling commission to regulate gambling market.

• Need to setup a good set of roles and regulations to carryout gambling industry effectively without corruptions.

Solution

• Find locations for casinos or other gambling centers on remote areas or places which are not accessible for middle class peoples frequently.

Conclusion

• The extra revenue added by casinos and gambling would go a long way to help with our budget deficit. 

• Brings social costs.

Gambling: the way of getting everything from something !

Thanks…