Quote from: owengtam09 on Today at 02:47:57 PM

Quote from: BTCLiz on June 05, 2021, 01:07:00 PM

Hi,

in this thread I would like to address a very important topic: Economic Costs of gambling.

From economic theory we know the concept of externalities:

Quote

In economics, an externality is a cost or benefit that is imposed on a third party who did not agree to incur that cost or benefit. For the purpose of these statements, overall cost and benefit to society is defined as the sum of the imputed monetary value of benefits and costs to all parties involved.

Source: https://en.wikipedia.org/wiki/Externality

1. Gambling in fact has many negative externalities. If someone gets addicted, the likelihood is much higher to be depressed. Depression is factor, which leads to high costs for the society.

2. Gambling addiction leads to economic costs because of crime actions. Other market actors have to increase their security standards, which means higher costs.

3. Many gambling addicts go as a consequence to jail. Jail means EXTREMELY high costs to society.

What are your thoughts on this topic?

This can possibly happen but gambling is not a place for addicts people, it can lead them "just like what you have said", 1) depression 2) crime, and 3) go to jail. We, at our own seek, should avoid already those possibilities for us to not get depressed. All gamblers should also be responsible with their responsibilities. I hope you already know what I meant.

Gambling can also be a viable option for those who are depressed already. It can function like alcohol. It is not always the other way around, it is not that you first gamble and then get depressed. You can be depressed but see an exit in gambling because it makes you forget your problems for a second. Sadly though it is mostly causing more problems afterwards as you are most likely not fully in control of your mind if you are depressed and therefore feel like gambling.