The Economic Impact of Casino Gambling
While it is tempting to gamble and win big money, it is important to remember that gambling is only for entertainment and not a way to earn money. Moreover, gamblers should know how much they are willing to lose before going to the casino. It is advisable to leave your ATM card at your hotel room. Also, never withdraw more money to make up for your losses. It is essential to set limits and never bet more than you can afford to lose.
Economic impact of commercial casino gambling
The economic impact of commercial casinoNZ gambling on local communities is multifaceted. The casino industry directly impacts local residents and creates jobs, while indirectly it impacts a range of businesses and industries. For instance, casino visitors purchase gasoline from local gas stations, which employs an attendant. Casino employees also spend their paychecks in the area.
There have been a few studies that consider the economic impact of gambling. However, few of these studies estimate the actual net effects of gambling. These studies have only provided a limited understanding of the issue. Many of the economic impact studies have been descriptive and gross in nature, failing to present a balanced perspective.
The commercial casino industry also supports a large number of businesses and suppliers. In 2010, commercial casinos generated nearly $18 billion in purchases, which is almost a third of its total revenues. The bulk of these purchases are directed toward gaming operations, while the remainder is aimed at hotel and food service operations. Another $1.3 billion of these purchases were made for non-gaming activities.
The economic impact of commercial casino gambling on local communities is more extensive than the national figures indicate. The economic impact model used to calculate these impacts uses a calibration of county-level data. The 2010 statistics show that the total impact of commercial casino gambling on local economies equaled approximately 1% of U.S. GDP. In addition, the industry generated seven percent of the total economic activity in its host counties.
In addition to generating employment, commercial casino gaming generates significant tax revenues. This is one of the reasons why the commercial casino industry is an important part of the national economy. The industry generates nearly $26 billion in indirect taxes a year. It also generates close to $25 billion in taxes through its induced economic activities.
This research also finds that a single pathological gambler costs the economy between $13200 and $52,000 per year. This impact is felt across a range of businesses, but is disproportionately felt by small businesses.
Characteristics of a typical casino gambler
The typical casino gambler has several characteristics. They are conservative, tend to stay in the lower stakes, and are well-acquainted with personal finance. They are also likely to take advantage of expert advice and refer to a wide range of resources when they need financial advice. As a result, they are more likely to be comfortable with their financial situation in later years than their non-gambling peers.