When the money is not spent on cars and refrigerators and is instead dropped into a slot machine, it leaves the economy
While advocates of legalized gambling say it brings in revenues needed for education and other uses, it actually has led to higher taxes, loss of jobs, economic disruption of non-gambling businesses, increased crime and higher social-welfare costs
Local competing businesses were thereby losing revenue.
My bottom line is this is no time to be gambling with our economy
$60,000 spent in a consumer economy multiplies by respending into $180,000
The socio-economic impact of gambling addiction is comparable to drug and alcohol addiction
When governments legalize and encourage gambling, they are creating addictions among their citizens
If gambling were banned, those social costs would drop, tax revenues from consumer goods would increase, and money would be pumped into the productive economic sector
Legalized gambling is the leading cause of bankruptcy
Gambling drains the economy by taking money away from grocery stores and retail businesses and putting it in the hands of an industry that produces no product
Gambling is a catalyst for economic downturn
Legalized gambling cost taxpayers $3 for every $1 in state revenue to government
Studies in Australia have verified this drain on the economy by video gambling machines
For every slot machine you add, you lose one job per year from the consumer economy
Your social costs, your costs to the taxpayers, are $3 for every $1 of benefits, it's not good economic development
While gambling addiction can be a social justice reason for some to ban gambling, the economic evidence suggests that the social and economic costs of gambling are $3 to the taxpayers for every $1 in benefits
Crime goes up 10 percent due to the gambling by the third year after racinos or slot machines are open, and then it continues upward after that
Bankruptcies will be up 18 to 42 percent around racinos areas tracks as people lose their money
The ABCs of legalized gambling - addictions, bankruptcies and crime
The military should get rid of video gambling devices on nearly 100 overseas bases and posts
Gambling addicts usually lose their focus at work and problem military gambling poses a national security threat
The faster the gambling activity, the more highly addictive it is; and the more addictive the gambling activity is, the more revenue it will generate for the industry
Another threat to stability is the rise of Internet gambling
In permitting gambling enterprises to flourish in the United States and abroad, the United States undermines global socio-economic stability in contravention of its international obligations
The lightning spread of 'Western-style' gambling overseas has increased the problems of addicted and problem gamblers, organized crime and alleged corruption in Asia and the Middle East
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