Socioeconomic Impact of Casino Gambling - Research Paper Example

Socioeconomic impact of casino gambling Gambling Gambling describes exchanges that happen through transactions that are unpredictable in nature. The activity takes place amid parties who agree on the mode of placing values to a given activity. For instance, the parties can decide to bet on the outcome of a sporting event, for which a win or a loss will benefit one of the parties. In case of a draw for sport gambling, neither of the parties will benefit. In gambling, people make prediction for uncertainties with the expectation of benefiting from their predictions. According to Thompson (148), gambling relies on the concept of probability where the expectation is twofold. It is either a gain or a loss to one of the parties. Upon making predictions, the benefit is dependent on the outcome of the agreement. Indeed, gambling affects the social and economic aspects of the lives of people in California as discussed in the piece. This makes it necesary to research the introduction of gambling as fiscal progress strategy in the state of California. The institutionalization of gambling Gambling was institutionalized in the US due to public demand. The increase in gambling activities had attracted the masses in the population. Consequently, gambling was steering developments in the economy of California. For instance, the funds obtained form gambling was instrumental in developing hospitality infrastructure in California. Authorities found it necessary to set up casinos to allow people in California to participate in gambling. The intention of the government was to stimulate economic development in the state of California. Moreover, it was appropriate to introduce gambling in California because the state was heavily dependent on the developments in the hospitality industry. Researchers from Rockefeller institute noted that the government of the US had no option but to encourage people to invest in casino business to tap on the potential of the state because California was the hub of tourism activities in the West. Following the introduction of legislations that legalized gambling, there has been a shift in the views of people towards gambling. The shift has forced authorities to revise legislations that regulate the activity in the United States. At first, the authorities prohibited the activity because they associated it with crime. This is because some of the participants in the activity had criminal records (Thompson 73). However, the perception of the authorities changed following the realization that the activity was contributing to growth in the hospitality industry. Introduction of gambling in the United States The activity began in the United States way back in the sixteenth century. The Europeans colonizers introduced gambling in the United States. It began as a pastime activity before turning into a commercial event. At first, people did not embrace the activity because the authorities did not recognize gambling. Consequently, it was an offence to partake in gambling activities. Besides, religious authorities at the time advocated for the criminalization of gambling. However, this perception changed with the establishment of casinos after the public had voted for the enactment of laws that legalized gambling. Today, authorities are encouraging investors to set up casino in California to stimulate growth in the economy. However, it is illegal to advertise the activities of the casino (Thompson 76). This is still the case in the neighboring states like Nevada. The law bars casinos from advertising their activities to the public. The Chinese introduced the concept of casino gambling following the departure of the colonizers from the United States their independence. This happened at a time when the authorities did not recognize the activity. Indeed, it was an offence in the United States to gamble. However, this changed following the introduction of legislation that recognized the rights of individuals to take part in different gaming activities. As a result, the government legalized gambling but the provided guidelines to conducting the activity. This happened in early nineties. However, it is difficult to trace the exact time for the commercialization of gambling in the United States. It is even complicated to identify the persons whom the government allowed to establish the first casinos in the country. This is because the authorities had criminalized gambling. Moreover, religious institutions objected legislation that recognized gambling. The expansion of casinos has contributed by the escalation in gambling activities. As indicated in the piece, several factors led to the institutionalization of gambling in the nation. For instance, it is a leisure activity to a number of people in America. To some gambling is a career. The wealthy citizens engage in gambling as past time activity. Moreover, they have the capacity to influence economic decisions. The impacts of gambling Gambling has both positive and negative impacts on the aspects of people’s lives depending on the manner in which the business activities take place. There are states that have recorded growth in their economies due to the increase in gambling activities. It is a source of employment to a number of citizens. Consequently, gambling provides a source of tax revenue for the government. The activity also affects the lifestyles of individuals. Researchers have established that gambling leads to anxieties and psychological disorders that interfere with the development of the brain (Thompson 461). As a result, gambling stagnate development in the society whereby the people who suffer from the effects of overindulging in gambling are adults who head households. Casino owners are the chief beneficiaries of casino gambling in the United States. Besides, casinos foster employment opportunities for the masses. For example, the existence of casinos has forced governments to set up authorities to monitor the activities of casino. Moreover, the activities of gambling are improving the economy of the United States by stimulating economic growth. The activity has stimulated growth in the service industry in Hollywood. In some instances, gambling impedes on the development of the society. This happens when gambling results to addiction. The addiction enslaves the participants to an extent where they dedicate their entire lifetime to gambling. This has been the case in the state of California and places where authorities set up casinos to stimulate economic development. Human rights activists blame the expansion of casino facilities for the decay in morals in the society. Activists believe that gambling cherishes wealth acquisition at the expense of promoting values in the society. Subsequently, the uncertainty of the activity creates imbalances on the economy (Thompson 150). Transferring huge volumes of cash from one region to another destabilizes the entire economy of a country. Moreover, it is easier for gamblers to engage in fraudulent acts because the activity alters their perception of life. Conclusion Gambling assumes several forms in the society with the most common being online gambling. Throughout the States, people gamble with different intentions. Some gamble as a recreation whereas to the rest it is a profession. According to Thompson (12), authorities are promoting gambling because it stimulates economic development in states such as California. Globally, people have embraced gambling in sports and other entertainment activities. In the US, technology has lead to the growth of casinos. Several forms of gambling take place in America and the activity is responsible for changes in the social and economic aspects of people’s lives. Works Cited Thompson, William N. Gambling in America: An Encyclopedia of History, Issues, and Society. Santa Barbara, California: ABC-CLIO, 2001. Print. Read More