Generally when people hear about online gambling, or see things in the news about it, the connotations are usually negative. People don’t even blink an eye when there’s a March Madness bracket challenge in the workplace, or when people gather to play Bingo at the VFW. But what people don’t realize is that sometimes gambling can actually boost your local economy and provide benefits to your community. No matter if its online poker, or video slots games, here are a few ways online gambling can be beneficial to your local economy.
State Tax Dollars and Fees
In states where online gambling is allowed, and sometimes even celebrated, the state’s budget benefits greatly from tax dollars and fees collected. This money can then be used for projects and initiatives that support your local communities, such as improving roadways or supporting education. The money generated via taxes and fees from online gambling can be in the millions per year. That kind of money can make a big difference in a state’s budget.
Keeping Money Wagered in the Local Economy
Players in regular, unregulated, online gambling can be located anywhere around the world, which means when money is won it is spent in the economy of the winner wherever they are located. But with more regulated intrastate gambling, all money won and lost is located within the same state. This allows the money to stay in the local economy no matter who is winning and who is losing. For example, New Jersey has seen huge impacts to its economy via regulated gambling. Another leader on the gambling front, gambling is close to becoming a regulated and taxed activity in Portugal too.
As more and more people have access to online gambling via their computers, tablets, or mobile devices, the larger the positive economic impacts can be for your local and state economies.
Have you ever played gambling games online?
