Effects of Gambling

Paper Summary:

The writer discusses that the positive effects of organized gambling on many aspects of modern life outweigh the harmful effects predicted by those who oppose legalizing organized gambling. The author mentions that opponents have beaten the drum concerning addiction to gambling, characterizing it as demonic and likely to ruin the lives of countless millions, as drug and alcohol addiction are said to do. Proponents of legalizing organized gambling contend, instead, that gambling is not an addiction, but a choice, and that the revenues to be derived from legalizing organized gambling can be used to among other things help reduce the real addictions in the United States to narcotics and alcohol.

From the Paper:

"Whether or not there is any truly psychological or pathological component in gambling (and Vatz makes a good case that there is not), there are positive societal effects of gambling, not least of which is the contribution it makes to the modern economy. For example, with dotcoms having plunged from their initial moneymaking heights, "The online gambling industry remains one of the Internet's few cash cows, with much of its success owed to an increase in demand from U.S. consumers" (Krebs, 2003). Despite the efforts of various politicians, such as the Maryland Speaker of the House, to curb gambling in various states, the virtually untouchable Internet makes it possible for anyone, anywhere to gamble. Americans are responsible, globally, for most of the growth in online gambling. The U.S. General Accounting Office projected Internet gambling revenues at above $5 billion in 2003, "with 50 to 70 percent of that revenue from U.S. customers" (Krebs, 2003)."

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