Gambling is a controversial topic in many respects and appears in the media for some reason. It may be an online casino that causes turmoil, or it may be a celebrity like William Hill or MGM who is looking to buy or open a new casino. Moreover, the impact of gambling on individuals is, of course, flattened in many articles.
But how do gambling and gaming affect the economy anyway?
This article covers the economic impact of the global gaming market, which has sales of approximately US $ 58.9 billion. First and foremost, online gambling is growing now, but it’s important to note that gambling & business continues to dominate the world. According to this, many people are employed in this industry, especially in cities such as Macau, Las Vegas, Monte Carlo, and Atlantic City, where they make daily bread. Especially in cities like Las Vegas and Macau, there are many other jobs, such as hotel managers and cleaning staff, for the brilliance of casinos and a large number of visitors that accompany them.
Casinos and taxes
Online casinos aren’t as brilliant in terms of work as land-based casinos, but they have high turnover rates and require high taxes. This high spending allows the state to support other areas and financially support road construction, increased digitization in government agencies, education, and more. And all of this isn’t important when it comes to work or space requirements. With this combination, online casinos can have various positive effects on the country’s economy.
All this example is Macau. In Macau, the casino and associated tax revenues have expanded and further developed the infrastructure. In addition, Macau has very high tax revenues, so city residents receive unconditional basic income and are therefore financially independent.
The rise of gambling Simply put, gambling has attracted many new entrants in recent years, resulting in a surge in sales around the world. In the UK alone, the number of players increased by more than 10 million between 2010 and 2020. Similar trends are seen in other countries.
Future of Gambling
By next year, online casinos are expected to generate about the US $ 100 billion annually, which is very important not only for the lives of many but for the country’s economy as a whole. See how the economy develops and not only “normal gambling” such as casinos, but also slot machines, poker ace (포커에이스), and poker tables defeat virtual Doppelgangers and see if people try their luck on mobile or anywhere in the future. Is interesting.
Above all, the federal-state naturally wants to have a positive effect on the economy, increase tax revenues and new jobs, and stimulate the economy through the funds available for consumption. In any case, it is still exciting to track these developments and embrace changes that may change tax thinking in the long run.