Economic Impact of Casinos
If you like to gamble, there are certain tips to keep in mind. Always play with money that you can afford to lose. Use cash when you play, and leave your bank cards at home. Don’t borrow money from friends or family. If you do lose money, do not try to win it back. And remember to set a time limit before you enter a casino. There are plenty of pre-commitment facilities available that can help you avoid spending more than you can afford to lose.
Some cities and counties have reported lower unemployment rates after the introduction of a casino. This may be true in some cases, but only when compared with the statewide unemployment rate. Although casino employment growth is positive in an area, it may have merely been the result of natural business cycles and changes in other sectors. This is a key reason to carefully assess the local impact of a casino. Nevertheless, casinos should not be the sole source of local job growth.
Casinos in the United States have more than a thousand locations, and their numbers are growing as more states legalize casinos. As many people become addicted to gambling, the casinos reap huge profits. Approximately five percent of American casino patrons suffer from addiction. These people generate around twenty five percent of a casino’s income. Some economic studies suggest that casinos can harm communities. Although casinos may bring in revenue, they can also cause significant losses in productivity due to the treatment of problem gamblers.