In many parts of the world, gambling is still considered an unregulated and even illegal activity for certain people. In the past, it was routine for governments to impose strict ethical standards on the people that they govern by condemning gambling as a form of recreation. However, the world is growing more and more progressive in this regard with many major countries taking more liberal approaches to gambling legislation. Gambling has been adopted and even promoted as an ideal tool for economic prosperity, especially in the digital era wherein online casinos are gaining much popularity. Canada is a perfect example of this. It’s a nation that has allowed for the economic growth of traditional land-based casinos while also pursuing the bright future of online gambling. This is not a trend that is just present in Canada. It’s one that’s evident all throughout the world. While it’s true that some governments are still maintaining a rather neutral or even conservative approach to gambling legislation, many civilizations are now regulating the gambling industry and riding the wave of the market’s economic growth.
The first winner of the legalization of gambling is the government. Obviously, when gambling goes unregulated, then that means that there are a lot of potential tax revenues out there that just fly under the radar. Any kind of regulated economic activity warrants taxes. And taxes are often used to fund government social services and programs. For example, tax revenues that come from gambling could go social programs like environmental sustainability and infrastructure development. This is a practice that is common among Nordic countries who are notorious for taking very liberal approaches to gambling legislation. This is applicable to both traditional and online casinos in the nations of Sweden, Finland, and other neighboring countries. Italy, Canada, and the United States are also other examples of nations with a government that taxes its gambling activities.
In the United States, the cities of Atlantic City and Las Vegas are notorious for being gambling hotspots. Particularly in Las Vegas, tourists from all over the world flock to the city that never sleeps to partake in the energy and night life of The Strip. In this regard, it’s not just the gambling industry that provides direct taxes to the government. The tourism industry of Las Vegas, which is directly driven by its thriving gambling atmosphere, is also greatly contributing to the tax revenues of the United States government.
Another obvious win when it comes to legalized gambling is the one that’s reserved for gambling operators. Just because gambling isn’t legal in many parts of the world doesn’t mean that gambling doesn’t take place. There are still many underground institutions that engaged in organized gambling activity while flying under the radar. Of course, these gambling operators do so at the risk of potential fines or even imprisonment. Once gambling is legalized, gambling operators will have the opportunity to carry on with their operations in a perfectly legal manner. Aside from that, the market competition will force operators to improve their services and continuously innovate their platforms to serve the market better.
The labor force also stands to benefit from the legalization of gambling activities. At first glance, the most obvious winners in the labor force for the legalization of gambling would be dealers and floor managers within the casinos. However, most casinos also require different kinds of personnel in order to conduct their regular services. Many of the world’s top casinos have the best custodial staff to ensure that casinos are kept neat and tidy. Naturally, since large sums of money flow in and out of a casino every day, many casino establishments will heavily invest in security personnel to make sure that cash is kept safe and secure. Then, there are other casinos that have fine dining establishments and even hospitality services as well. That means added job for those people on top of everything else. The boost in opportunities for any nation’s labor force doesn’t have to center around gambling activities directly since many casinos require different kinds of talent in order to provide topnotch services to their markets.
Lastly, there will also be a boost in opportunity for game developers. This is especially true when you consider the fact that the online gambling industry is performing at an all-time high and shows no signs of stopping. Every single day, game developers are coming out with titles in an attempt to outdo one another in terms of game innovation and user experience. Many game developers are now able to find work because of the success of the online gambling market and the increasing demand for quality casino games.
This article was written in cooperation with Koral Group