Gambling: Good for the Economy, Bad for Your Health? Not Necessarily

gamblinginsider-pair-acesThe impacts of gambling on the health of players as well as the economy have sparked debate for years. As researchers make claims towards gambling benefiting the economy, impacts on health have been ambiguous at best over the last decade. However, studies are now showing the beneficial impacts that gambling is having on the health of its fans, proving its compulsory stance in the lifestyles of many as well as that of the global economy.

Health Benefits of Gambling

Gambling offers a recreational activity that can exercise the brain during otherwise stagnant moments. Precise examples of this have been delineated through studies with retired seniors, who are left seeking for hobbies and activities in order to keep their brains active. Yale University, in fact, has found that older recreational gamblers are healthier than non-gamblers. Not only that, but gamblers over the age of 65 reported less depression, alcoholism and financial problems than much younger recreational gamblers. In essence, seniors tend to treat this as a hobby like any other; as entertainment and stimulation for their brains.

The social aspect of gambling also plays a significant role in its attributed health benefits. As people age or individuals find themselves in times of loneliness, going out to casinos or bingo halls might actually help alleviate the apathy that comes with the territory. Socialization ensued through activities of these sorts, that compile meeting people and having fun, keeps people engaged and, consequentially, happier and healthier. Depression is slowly becoming an epidemic among the elderly and any social interaction is certainly a healthier outlet for them than having to rely on medical treatment to suppress the lethargy. Suffice to say, that gambling is not just a mechanism for spending and generating money. Casinos frequently hold events like concerts or conferences that are outside of the gambling realm but still propel players and casino goers into a social place for mingling and interacting. When treated as premium venues, casinos can hold some of the best events the city has to offer, contributing to the vibrancy of the city and the entertainment of the population at large.

Further, the brain must be treated as a muscle that requires frequent and regular exercise. Much like exercising the body, exercising the brain is vital for healthy individuals. For disabled people or for the elderly, who might have a difficult time commuting and traveling, bingo sites, casino sites or in fact any kind of online gaming sites can be critical forms of entertainment for them. Recreational online gambling can sustain an active mind and a healthy brain overall, contributing to happiness and suppressing symptoms of depression.

Moreover, gambling can train the mind in taking real-life risks. All casino games are methodological in their own unique way. They require practice, a keen sensibility for patterns, a precise analyses of numbers and an attentive eye for tricks. These dynamics refine the brain’s overall functioning, teaching people to be just as intellectually driven in the real-world as well. Recreational gamblers tend to be better decision-makers and have a keen intuition for prime opportunities in any facet of life as a result.

Economic Benefits of Gambling

Casinos, bingo halls and even online gambling sites employ many people across the globe. Unlike other social activities that might be more culturally specific, recreational gambling is found worldwide. Its economic impacts are evident, contributing immensely to the health of not only the economy from a revenue standpoint, but also from an employment standpoint.

U.S. economists have stipulated that the gambling industry is having even more of an impact than the airline industry. As competition has intensified online as well as with in-house casinos, differing countries and states are looking at ways in which they can remain competitive. With casinos employing thousands of people and gamblers spending significantly to pay, its association to the health of the economy is indisputable. In fact, according to the American Gaming Association, “In 2002, the commercial casino industry provided more than 350,000 jobs in the United States, with wages and benefits totalling $11 billion. An estimated 400,000 additional jobs are supported by casino industry spending. State and local governments nationwide received more than $4 billion in casino tax revenue, which helped fund local infrastructure improvements, education, public safety, housing and health-care, among other programs, and provided tax relief to local citizens.”.

As bingo sites, online casino and other online gaming sites have also grown in popularity over the last few years, the revenue stream generated from online gamblers also contributes significantly to the economy. Dan Brown the owner of bingosweets.com say, “That according last reach the global online gaming market worth $41.4B”.With regular gamblers contributing to these online communities as faithful fans, online gambling sites are some of the most lucrative. As such, through cross-promotional marketing channels, other online sites promoting these gambling sites also benefit from the generous traffic.  This consistent traffic stream is contagious in the online space and maintains healthy relationships among retailers and gambling sites alike.

Gambling has made indicative strides in benefitting both the health of its fans as well as the global economy as a whole. Unlike discussions to the contrary, recreational gambling can feed the world on a large scale, both in providing entertainment for those who need it most and maintaining a steady revenue flow. As long as casinos as well as their online equivalents are still active for play, the world will continue to benefit from this notoriously favoured approach to entertainment.