Positive Socio economic impacts
The best example of the positive affects of gambling is Las Vegas, a city which started form nothing and developed into one of the world's recognized countries. The growth in their economy and their employment graph has risen rapidly in the past decades.
With the construction of the casinos, the employment rate has grown. Also there is lesser tax burden on people in Las Vegas than in any other country. It has also given way to certain significant public and private sector investments.
A very important aspect of increasing the economy is to make the import list lesser than the export list. Gambling has played an important role in doing so. There is no export but a lot of foreign income when people come from abroad to gamble in Las Vegas.
Another positive impact is that when foreigners come and lose their money to the natives, the NI is increased.
Negative impacts of gambling
As in any other thing, besides having advantages gambling also has some disadvantages for an economy. The biggest one which has been analyzed is that through gambling money and other things are transferred from one person to another but nothing is produced or nothing is earned. It affects the NI. Similarly, in this way nothing is produced on the national level and nothing goes to the government because there is no such thing as income tax on the gambling income. |
