Gambling is something many of us have either indulged into at some point of time or are aware of. This sport is increasingly getting approval from different governments and societies and spreading fast. But still, there is a section of our society, and a quite large one, which does not approve of gambling as a sport.
The reason beyond this negative perception is some of the side effects that come associated with gambling. The most common ones are money laundering, underage gambling and gambling addictions. Money laundering can be defined as the process where unlawful transactions involving money are involved and where money is unlawfully taken from one state of country to the other. Both these activities are harmful for the economy of the place.
Underage gambling is associated with the gambling by minors, which can be harmful for the social well being of the region. Finally, gambling addiction or compulsive gambling disorder has harmful implications on the individual, as well as the society. All these problems, even gambling addiction to an extent, are mainly concerned with illegal gambling. Countries like the United Kingdom have legalized online gambling and casinos and the results are not discouraging at all. They have shown that if gambling can be controlled and regulated, problems like underage gambling and money laundering can be controlled to quite an extent.
Revenues can also be generated in the form of taxes, which can be further used to increase awareness about compulsive gambling disorder. Regulated online gambling industry can thus not only help in curbing the associated problems, but also in improving the health of the region’s economy. So, staying away or avoiding this sport can never be a solution, as gambling is not going to fade away in the future. Instead, accepting and regulating the industry would do the trick.