Post
Topic
Board Gambling discussion
Re: Economic Costs of Gambling
by
mindrust
on 19/07/2021, 05:28:02 UTC
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?

Gambling is a business where the dumb money replaces itself with smart money. It is as simple as this. The odds are against the players' favor. Otherwise, the casinos wouldn't exist. If you know that information, you can't ruin yourself financially even if you wanted to.

Most people that lose their life savings don't know that or don't care hence the name "dumb money".