When the money is not spent on cars and refrigerators and is instead dropped into a slot machine, it leaves the economy
While advocates of legalized gambling say it brings in revenues needed for education and other uses, it actually has led to higher taxes, loss of jobs, economic disruption of non-gambling businesses, increased crime and higher social-welfare costs
Local competing businesses were thereby losing revenue.
$60,000 spent in a consumer economy multiplies by respending into $180,000
My bottom line is this is no time to be gambling with our economy
The socio-economic impact of gambling addiction is comparable to drug and alcohol addiction
If gambling were banned, those social costs would drop, tax revenues from consumer goods would increase, and money would be pumped into the productive economic sector
When governments legalize and encourage gambling, they are creating addictions among their citizens
Legalized gambling is the leading cause of bankruptcy
Gambling drains the economy by taking money away from grocery stores and retail businesses and putting it in the hands of an industry that produces no product
Gambling is a catalyst for economic downturn
Besides creating more compulsive gamblers, money spent on lotteries isn't spent on other goods such as clothing or computers, which would trickle through to retailers, manufacturers and other parts of the economy
The ABCs of legalized gambling - addictions, bankruptcies and crime
The military should get rid of video gambling devices on nearly 100 overseas bases and posts
Gambling addicts usually lose their focus at work and problem military gambling poses a national security threat
The faster the gambling activity, the more highly addictive it is; and the more addictive the gambling activity is, the more revenue it will generate for the industry
Another threat to stability is the rise of Internet gambling
In permitting gambling enterprises to flourish in the United States and abroad, the United States undermines global socio-economic stability in contravention of its international obligations
It becomes a cannibalization of your pre-existing economy
Then they're like addicts; they can't help themselves... They will steal, cheat, embezzle and commit other crimes just to get money to gamble
In convenience gambling scenarios, discretionary spending and nondiscretionary addicted gambling dollars were transferred from other forms of consumer expenditures
Bankruptcies increase 18 percent to 42 percent above the national average
27 percent to 55 percent of casino revenues come from problem or pathological gamblers
One to 2 percent of the population becomes addicted gamblers
Bankruptcies will be up 18 to 42 percent around racinos areas tracks as people lose their money
