Is Gambling Good?

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After many years of being confined to Nevada, the gambling industry has started appearing in new locations. Of course, this is expansion is not supported by everyone. In some locations, the government allows casinos on Indian reservations and “river boat casinos.” Certain governments, such as the state of Nevada, allow gambling in all parts of the state. Originally, gambling was only legal in Nevada. The other locations are fairly recent and many other local governments are considering legalizing gambling in their cities or states. Gambling is like any other business: there are sellers and there are buyers. No one is forced to participate in the transaction, but many people still oppose gambling in their communities. In this paper, I will discuss why, according to economics, gambling should be legalized and some reasons why gambling has not been legalized everywhere.
Many people believe that gambling should be legalized everywhere. It is simply a business. There are people that would like to sell gambling services and there are people that would like to buy gambling services. Neither party is losing from the transaction. The casino operators are gaining from the transaction because they would like to make profits, just like any other business. Realistically, the gamblers are most likely losing money, but they are choosing to risk their money at the casinos. The gamblers are gaining because they would like to gamble and be a part of the casino environment. The gambling market follows the laws of supply and demand, just like every other business market. If the casino owners ask too high of a price for their services, people will not buy them. There are always other casinos that people can go to if one casino were to charge higher rates. Casinos must compete with each other just like any other business. Casinos can also be a large source of tax revenue for local governments and it can provide jobs for members of the local communities. According to the Atlanta Business Chronicle, Rob Pitts, the Fulton County Commissioner, believes that “…gambling could generate more than $200 million a year in tax revenue and add 4,000 jobs in Georgia.”
There is one type of gambling that is already available in most states - the lottery. This type of gambling is regulated by the government and is accepted by the general public. The state usually pu...

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...lth. It's not the panacea that it is presented as.”
In conclusion, gambling is just like any other business: there are buyers and there are sellers. There are potential good points to legalizing gambling, but there are also some drawbacks. The gambling industry can create tax revenue and jobs for local communities, make money for the casino owners, and allow people to gamble safely. However, some people that gamble should probably not be gambling. Casinos outside of Nevada are often found in poorer cities. Personally, if I had the choice, I would vote against gambling in my community.
Arvidson, Erik. State lawmakers remain wary of casinos. 2 Nov. 2003.
Berkshire Eagle Online. 2 Nov. 2003

Riverboat Gambling. 07 Dec. 2003

Hoeschen, Brad. Potawatomi courting businesses for casino expansion plan.
1 Aug. 1997. The Business Journal. 7 Dec. 2003

Schenke, Jarred. Pitts will ask state to OK gambling. 27 Oct. 2003.
Atlanta Business Chronicle. 2 Nov. 2003

Study: Poor players spend most on Md. lottery. 20 Oct. 2003. The News
Journal. 2 Nov. 2003

MacQuarrie, Brian. $650m resort, casino plan divides Maine. 12 Oct. 2003.
The Boston Globe. 2 Nov. 2003

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