To get a handle on the pros and cons of legalizing online gambling, I talked to David G. Schwartz, director of the Center for Gaming Research at the University of Nevada, Las Vegas.Here are.
December 1, 2017CASINO GAME RULES
The word gambling needs not much of an introduction anymore as almost everyone is pretty much familiar with this. Though it is difficult to cite any reasons as to why people love gambling but one thing is for sure that each one would have his/her own reason for it. Online gambling is relatively a new phenomenon and a very popular activity - and this is more than a reason that every other day a new online gambling website is launched to attract potential customers.
It isn’t surprising that we all know that gambling has been popular throughout history and people have indulged in gambling in various forms whether be it gambling on games or anything else long before the internet existed. With technology and internet, gambling has become easier and people now can indulge in online gambling anytime any day and there is no stopping to it now.
Whether you gamble at real casinos or online casinos, both have its pros and cons and there have been people all over the world who believe that online gambling should be banned. However few of these may have some questionable intentions to believe this which may include owners of the brick and mortar casinos as an example. In the same manner, there are some legitimate and logical concerns which can be addressed through this ban. There are several supporters of it as well and people love to gamble as it is their passion.
People love online gambling much and believe that there is no need to talk about any negatives coming out of it rather people should adapt to change and move on with it. It is true that no one should encourage gambling and it should be one’s own judgment while still; we would discuss the pros and cons of online gambling.
The Pros
- Online gambling is entertaining and exciting which attracts customers to bet online and make some money
- Customers get better choice of betting and gaming options which is a great advantage as compared to physical casinos
- It offers more privacy and security to players and this is something which is an added advantage
- Customers find online gambling as more convenient as compared to physical casinos as they need not travel long distance.
- Online gambling is suitable for all budgets and offers the comfort to customer to gamble from his/her home
- Last but not the least online gambling sites offer a wide range of incentive and their bonuses and rewards are too good to say No to online gambling. A customer gets welcome bonus which is basically getting extra funds added to your account when you sign up with any online website.
The Cons
'Gambling: A Controlled Substance' by William N. Thompson, August 1994 Thompson warns communities who are seeking economic benefits from legalized. Going back to the first pro mentioned, being able to access online gambling from the privacy of home can be a good thing or it can be a bad thing. Many opponents of online gambling feel that virtual casinos have made it far too easy for people to go into debt.
- One needs to be patient enough to get your money after you cash out. Even when the online gambling website pays you out you need to bear with delays at your credit card end.
- Many reputed and well known online gambling websites do offer great customer service through live chat, email and provide a toll-free number but then there are several others which have snobby and delayed service which can be a tough challenge to deal with. They take days to reply to an email and even have nonworking telephone numbers and they live the customers in lurch one they have their money.
- Customers do register and start gambling at websites which do not have any legitimate gaming license and thus they lose any power in the event of a dispute.
- If you indulge in online gambling at different websites handling or balancing your credit card statement can be a tough challenge for you. Transaction rarely indicates the name of the casino you play with and thus it becomes a nightmare to differentiate which amount was transacted at which website.
As per a recent article on BBC News, more gamblers are banning themselves amid the rise in online betting and new figures have been revealed. Online betting firms/ websites have received 50,000 requests from customers asking to close their accounts last year which is a healthy increase as compared to mere 7000 requests the previous year.
As per Gambling Commission revelation, £4.7bn was bet online in 2016-17 and all betting operators have been required to offer the scheme called GameStop. Currently, gamblers need to contact each company they hold their betting account with and place a request to stop or excluded.
Lastly, each player should understand that online gambling is fun and it . Never make it a habit as it is a trap and one should understand it well that there are no free lunches in this world.
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The biggest impact of gambling though, is seen in people's homes. Individuals who have a gambling problem often tend to overdo it, and their addiction leads to severe problems in households. This involves the loss of money, theft of money, neglecting other duties and responsibilities, and other dangers like getting into trouble with gambling cartels and over indulging in drinking and other substances. Problems arise because there are many people who just do not know when to stop gambling, and this lack of self-restraint is the single biggest reason why gambling is viewed with such disdain.
Facts About Legal Gambling
At first, the answer to whether gambling needs to be legalized would seem to be a definitive no, but on closer inspection, you will find that legalizing gambling has certain advantages as well. The biggest beneficiary of this arrangement will undoubtedly be the Government of the country where gambling has been legalized, and this is what has been driving this debate on endlessly.
The Pros of Legalized Gambling
The single biggest benefit of legalized gambling is the rise that the tourism industry of the country will experience. People will undoubtedly flock to this region from all around the world, and this will boost many different parties in various ways. This will inevitably lead to a rise in employment opportunities in the region as well, and the economy will grow as a result. Casinos and gambling houses are required to pay pretty high taxes, and this is another area that the Government will benefit from. The resulting increase in the tax revenue due will also lower the tax burden on other sources, and this will be welcomed by other citizens of the country as well.
Along with casinos and gambling houses, many restaurants and hotels would also arise in the region which would prove beneficial to many people. This would lead to many new jobs opening up, it would lead to greater diversity in a certain region and it would definitely lead to a rise in the standard of living of everyone involved.
Gambling Online
The Cons of Legalized Gambling
As already mentioned, one of the most prominent points in the debate is the issue of problem gamblers. These are people who have no control over their urges and try to dupe casinos through illegal means. Not only do they cause problems in casinos, they also cause issues in their homes and in other areas around the casinos which is one of the most widespread negative effects of gambling. The crime rate in the region will rise because of all this, and so will other illicit activities like money laundering, counterfeit money and arms trading. It has also been noted that suicide rates are higher in areas where gambling has been legalized.
Even though the tourism industry will prosper, other small business establishments that provide recreation and entertainment will suffer, as most people will only visit the casinos and restaurants around the casino itself. Hence, the growth will be very unevenly divided. Moreover, many destitute people will harass tourists and wealthy looking people for money and small change and this will make life uncomfortable for many families or individuals. Additionally, people will soon find themselves spending money on gambling instead of saving it or investing it wisely and this will affect people's financial lives drastically. Ultimately, the aspects legalized gambling would depend on the self-discipline that people possess and also on the magnitude with which the gambling industry is embraced in a region. But, there can be no denying the fact that it will have more disadvantages than advantages.
Some Facts and Statistics About Legalized Gambling
Pros And Cons Of Legalizing Online Gambling
- It is estimated that at present, around 20 million citizens of America are problem gamblers and compulsive gamblers.
- Atlantic City, where gambling is legal saw a phenomenal 320% rise in the crime rate, and also a 100% rise in cases of rape, muggings and burglary.
- The last Presidential Election in the United States saw a contribution of close to $7 million by the gambling industry in the country.
- The total income from this industry in the last year was close to $95 billion, and the tax amount paid was around the $6 billion mark.
- Around 500,000 jobs in the United States are provided by the gambling industry.
- 19 of the 50 states in the USA allow legalized gambling and place very little restrictions on the industry.