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:
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/Externality1. 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 very bad thing to do, but sometimes those who gamble are only limited to channeling hobbies even though in the end they lose money, a gambler in my opinion must have good financial management so that he can manage spending money in gambling, financial management A good one will certainly make gamblers able to minimize bankruptcies that might occur due to gambling. it is not uncommon for gamblers to go to prison for criminal reasons and this is caused by addicted gamblers who need money to play games so they inevitably have to commit crimes to earn money.