Perhaps the most important political benefit of the casino is its tax revenue. In many states, the percentage of state tax revenues from legalizing gambling is very small (usually less than 5%), but the casino tax makes it easier for politicians to avoid spending cuts and other tax increases on Toto 메이저사이트.
In Massachusetts, gambling at casinos in Connecticut and Rhode Island has become one of the motivations behind the legalization of casinos for many Bay State residents. If the new casinos keep hundreds of millions of casino revenues in the state, it will be additional tax revenue.
The researchers believe that most of the cost comes from the problem gamblers, who account for about 1% of the population. These people suffer from various problems, including poor job productivity, financial problems, bad debt, bankruptcy, crimes to earn money for gambling, and lies to friends and family.
Interestingly, the spread of casinos Toto메이저사이트 across the United States may not have significantly increased the prevalence of problem gambling. Research shows that when casinos expand to a particular area, the share of gambling addiction increases in the short term, but that share has leveled off over time. As a result, the prevalence of problem gambling is fairly stable, regardless of location or time.
Since the 1990s, researchers have tried to put a monetary value on the social cost of problem gambling. Unfortunately, this kind of measurement is difficult.
Researchers estimate that about 70% of problem gamblers have other problems, such as drug and alcohol abuse. Therefore, it is impossible to attribute social costs to a person’s gambling problems. However, the scientific literature on the difficulties associated with problem gambling is well-developed.
elimination of competitors
Casino critics usually claim that casino harms other industries. This is the so-called “cannibalization of industry.” Any new business that competes with the existing business will do the same thing. This is part of the market economy.
Established companies don’t like to see competition intensify. But, after all, the new casino will create new options for consumers. Consumers won’t spend money on casinos if they don’t enjoy gambling.
What about the influence of casinos on lottery tickets? Recently, there has been a claim that the casino could cause huge damage to the Massachusetts lottery. Recent empirical evidence from our research in Maryland tends to go against this.
We found that the launch of a casino in Maryland reduced lottery sales by about 2.75%. This is not a big impact, but it is not surprising.
Massachusetts is the most successful lottery company in the country, but the negative impact of casinos on lottery sales is probably small. However, the net is that the casino will almost certainly increase the tax revenue on the gambling tax.
How to assess the impact of
Policymakers across the country have taken various approaches to understanding the implications of casinos. Some states requested comprehensive research; others acted without much empirical evidence. Massachusetts has commissioned a multi-year, comprehensive study of the economic and social impact of the introduction of casino gambling.
Casinos, indeed, have various influences on their host communities. Casinos generate both cost and profit, but both will not be as important as those who strongly support or oppose their claim.
However, from a purely economic perspective, the profit from the casino is likely to outweigh the costs, even considering the difficulty of the measurement.
positive economic impact