As controversial as gambling is, it’s no secret that this is one of the most beloved forms of entertainment throughout the world. Now that it has transitioned from a location-specific activity to a fully-fledged phenomenon that also has an internet presence, its societal role has been an even more ardent question.
Several social challenges have been raised around the aspect of gambling and its ascension. More and more people seem attracted to its excitement and promise. The general technologization has led to countless online casino brands competing against one another by attracting potential users with a free welcome bonus no deposit required.
Since we already know there are countless facets to how casinos impact the individual, how about we take a look at how they impact the community? We’ll see if there are any palpable economic benefits in the mix, if they can contribute to the community development idea, and what their overall effect is.
We’ll try to look at the benefits of the coexistence between physical casinos and the communities they inhabit.
Tax Revenue
Firstly, it’s highly essential to understand that the biggest economic impact that bigger businesses have is through taxation. Should the business be successful, the effect trickles down to the rest of the community. Being the main source of revenue for any form of government with this kind of authority, taxation is an aspect that interests people at all levels.
Since gambling implies quite a high degree of risk and no guaranteed investment for the common citizen, its legal status is a balancing act. Operators in this field tend to offer their products under intense scrutiny, especially from a legislative point of view.
However, many jurisdictions that legalize gambling also have special taxes for the operators and customers. Many transactions that happen in this field are subject to specific taxes that can boost the government budget. In a perfect world, these funds have the potential to turn into investments in the local communities!
Employment Opportunities
Land-based casinos are businesses that require quite an extensive staff to operate at full force. When that casino is part of a bigger resort that operates 24/7, then the staffing becomes even more expanded. Take the connected services working alongside the resort, and you’re in need of a lot of people to work for you.
For the working people of a community, this is an invaluable source of employment. Folks who may struggle to find a job or the experience to land one can start working inside their own community and provide some of their local flavour to the visitors they may be interacting with. Since many casinos will require their employees to work in shifts, the community will experience even more transit.
On the flip side, it’s essential to remember that casinos may feel like they have complete leverage over the community. While the relationship between the government, citizens, and casinos is a balancing act, it’s important that each party receives at least a reasonable share of the spoils of success!
Adding Tourist Attractions
High-level casino resorts can help their surrounding communities by bringing indirect revenue. When such an entertainment-based location has enough prestige to attract outsiders, it will boost the connected businesses as well.
Since many people would like to gamble but prefer not to stay in the casino’s in-house hotel, opportunities for hospitality providers will soar. Such a scenario is perfectly applicable in the case of the restaurant business, not to mention transport like cabs or people who work in ride-sharing.
If the community also has other tourist attractions like cultural hotspots and other entertainment opportunities, they can join the casino’s spotlight as an alternative during a vacation! Arriving in a place you wanted to visit to gamble and ending up liking the entire community can lead to recurrent visits and prolonged community engagement!
Possible Philanthropic Effects
The social responsibility of a big economic presence can prove beneficial as well. Since the stigma of gambling is still very much present in the public discourse, gambling addiction is one of the most talked about social issues.
Even if it’s for PR purposes, local casinos may try to counterbalance this aspect and try to participate in more than just economic community relations. That could mean that philanthropic work that can benefit the community can come as an olive branch, even if it serves as an image cleaner.
Conclusions
As helpful as casinos may be to a community, it’s key to remember all the facets of gambling. Consequently, any participation or engagement with this activity should happen carefully, so remember to play responsibly, too!