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?
You are only concentrating yourself on the aspects of gambling that are negative, the gambling industry provides employment to a lot of people around the world, it provides entertainment and peace of mind to those that just want to relax a little bit after a difficult day on their job, and during the pandemic it provided people with a way to spend their time during the lockdown while keeping themselves safe with online gambling, so while gambling can have some negative effects the positive effects that it brings are significant as well.