First, the casino can offer many employment opportunities to local employees. While most jobs are relatively low-skilled, low-paid service businesses, some have seen a shift in their balance to higher-than-average wages on Toto 토토사이트. However, union members casino workers are almost ten times more likely to have their health insurance fully paid and subsidized payments above the national average. Casino jobs are a great example of “from welfare to work.” In addition, casino jobs can create immediate employment opportunities in some regions.
Second, economic development is a multifaceted concept and reflects many concerns that cannot be captured by conventional income statistics (Chen, J. S., 2010). Per capita income, although incomplete, still provides one of the reasonable measures of economic well-being. In casino Toto토토사이트 counties, per capita income is growing nearly 5 percentage points faster than in non-casino counties. This result is statistically significant. Therefore, the casino grows not only the local economy but also the residents, on average, can benefit.
Thirdly, gambling can be a powerful means of economic development. That Interestingly, the spread of casinos 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.
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 ofPolicymakers 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.