Pros and Cons of Legalizing Gambling
Today, millions of both young and elderly men and women are participating in various forms of gambling. There are many people who are already addicted to gambling as a way earning a living as there are equally many who participate in gambling on a less frequent basis. The game of gambling features various types of wagering including casino dice games, style cards, betting in sports events and electronic games such as poker. However, some of these gambling games are received contrarily different in other countries in accordance with their laws and regulations. In relation to these controversies, there are unending debates as to whether gambling should be legalized or not. In case gambling is legalized, the question remains on what will be the benefits and shortcomings in the society or the economy of a country. Therefore, the paper outlines the possible pros and cons associated with legalization of gambling.
Pros of Legalizing Gambling
First, fully legalized gambling will bring economic stimulation. Permission from the authorities would steer the establishing of standard gambling spots such as casinos that will attract many gamblers including tourist who many earn foreign exchange to a country. For example, in Las Vegas, the gambling business has thrived and this has boosted the state of Nevada in terms of revenue collection through licenses and taxes. In addition, gambling sites will create job opportunities as many of this joints are linked with hotels and night clubs. Therefore, legal gambling is a lucrative business that generates billions of dollars that are channeled into an economy as genuine revenues.
Second, lawful gambling leads to legal behaviors from the participants. Since the casinos are marked as areas susceptible to countless types crimes such as fraud and robberies, making gambling illegal will activate more of these vices. According to studies on human behaviors, people are known to get involved more on prohibited activities than when they are allowed to participate since humans strive to access to what they do not have. Therefore, if gambling is legalized, it will promote lawful conduct and interactions among gambler in the casinos, hotels and clubs.
Third, legitimate gambling will provide various forms of entertainment to citizens. People will feels safe and excited to visit the casinos and other gambling sites when they operate legally. Additionally, the owners of the gambling sites will operate without the fear of breaking the law, and rather ponder on ways to improve the legal operations of their businesses. Thus, lawful gambling offers entertainments to participants as it acts as stress reducer because players in casinos will be playing with confidence and happiness.
Cons of Legalizing Gambling
As much as legalization of gambling appears to offer some benefits, still there are limitations which questions its legalization. One of the disadvantage is that financial concerns in the side of players. For example, players place huge sums of money when staking, and this is very risky in case of unfavorable outcomes. Many gamblers end up losing huge amount of cash that could be of good use elsewhere. Typically, gamblers goes to an extent of selling off some of their valuable assets in a bid to raise betting funds, which render many gamblers broke whenever they lose.
Another limitation associated with legalizing gambling is the possible increase of crime rates. Since some punters are addicted to gambling, they tend to engage in crime such as fraud and theft to raise money for gambling. Studies indicate that cities with many gambling hubs are characterized by high crime rates. Therefore, legalization of gambling will increase betting hubs, hence creating many players who would seek wagering money from any dishonest deal.