Today, gambling in Ufabet or in any other online gambling site isn’t an activity that is condemned by the government who wishes to apply ethical standards to their territory. Whether you believe it or not, there are some countries that have welcomed and even promoted gambling as a way to legitimately improve their country’s economy.
The Legalization of Gambling Industry
Theoretically speaking, racetracks, lotteries, electronic games and casinos may fill in government coffers with enough funds to provide support to their programs. Supporters might say that gambling can create jobs partnered with beautiful benefits to those who are underemployed or unemployed.
However, before a casino can be legitimized, they have to change from being a social problem to a neutral form of entertainment. At times, they need to position themselves as one that is pushing for positive economic development. Though, this is not entirely difficult because the gaming industry has the government’s support and positively promoting different forms of state gambling.
Social Costs of Gambling or its Economic Benefits?
Still, there is confusion surrounding the number of jobs that the gaming industry can provide and how much the government can earn from them. For instance, the Rockefeller Institute has noted that the revenue of the state from gaming has steadily grown from 1998 to 2007 and has a total of 23.3 billion dollars in the 2007 fiscal year.
Truth is, in the same year, there are 10 states that amassed more than a billion dollars per year in gambling revenue and another seven states that obtained over half a billion dollars per annum. The gaming revenue contributes 2.1 to 2.5 percent of the state’s source of revenue every year from 1998 to 2007.
What does it Say?
From this research, the Rockefeller Institute has come to a conclusion that from a financial perspective, gambling that is sponsored by the state has a close resemblance to blue-chip stock. This in turn is a reliable way of producing a big sum of money. Researchers from the same institute are also speculating that the softening of gaming revenue might be partially brought by the negative economic conditions.
Then again, there are critics stating that the gambling benefits are just exaggerated from the truth. They are arguing that the benefits will only become a reality if visitors outside the area used their money to play at the casinos. But then again, there will never be right and wrong answers here.