Gambling with Revenues|My essay solution
Posted: February 28th, 2023
Instructions
In chapter 6 of the course text, the author writes:
“Many states rely on revenue from gambling to finance a portion of state government services. While most states do not raise much money from gambling, games of chance have been a growth industry for states.”
What’s more…
“As the result of a 2018 Supreme Court decision, several states have already begun to tax gambling on sporting events.”
Here in Georgia, sports gambling has become an issue in the gubernatorial election. During last year’s gubernatorial race, Stacey Abrams said it was time for Georgia to support casino gambling and sports betting. And now legislators are seeking to move a sports betting bill forward.
Do you agree? Are casino gambling and sports betting viable sources of revenue for the state of Georgia? What are the potential pitfalls of tapping into these revenues? How do you think the construction of a gambling casino would impact tax revenues and, as an extension, government budgets in Georgia? What would affect the quality of life in cities where casinos are located? Please cite your sources.
*Please talk about Georgia in specific*
SOLUTION
Regarding casino gambling and sports betting as viable sources of revenue for Georgia, it is worth noting that many states do rely on gambling revenue to finance a portion of state government services. However, it is essential to consider the potential pitfalls of tapping into these revenues. One potential pitfall is the risk of problem gambling and the social and economic costs that come with it. According to the National Council on Problem Gambling, an estimated 2 million adults in the United States meet the criteria for pathological gambling, and another 4-6 million are considered problem gamblers. The social and economic costs of problem gambling can include bankruptcy, divorce, crime, and mental health issues.
Moreover, the construction of a gambling casino may
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