The Money Side of Gambling Made Legal

Money In and Jobs Out

Legal gambling brings in significant revenue and jobs. In 2021, gaming businesses generated $11.69 billion in tax revenue, enhancing public funds. Each casino can create 300-2,000 direct jobs, with an additional 1.3 extra jobs per casino job.

How House Costs More

House costs near gaming venues increase, with prices rising by 15-20% near new casinos. Each dollar from gaming results in $3-5 additional spending in nearby shops and entertainment venues.

The Health and Social Part

Not all outcomes are positive. Problem gambling affects 2-3% of people in legal gambling areas, accruing health costs of $1,200 per affected individual annually, impacting healthcare systems and communities. 상세 자료 비교해보기

All About Places and Money

The overall effect of gambling legalization is mixed, offering tax revenue and jobs but also posing health and social costs. A comprehensive view aids communities in managing gambling spaces and regulations.

Taxes and How the State Spends

Gambling taxes reached a peak of $11.69 billion in 2021, a 75% increase.

Local and state governments benefit from gaming funds, primarily allocating them to schools.

How Rates Change Money Made

State taxes vary greatly.

Nevada imposes a 6.75% tax, whereas Pennsylvania requires 54% from slots. High taxes might deter businesses.

Where the Money Goes

Funding allocation is specific. **Maryland allocates 27.5% of casino funds** to the schools fund, and **Illinois uses it for infrastructure**. Critics argue about reallocating existing funds rather than creating new revenue.

Main Money Stops

• Schools receive priority funding
• Infrastructure projects gain support
• Health programs receive funding
• Local communities benefit

More Jobs from Casinos

How Casinos Shake Up Jobs

Jobs in Gaming

Legal gambling creates diverse job opportunities.

Casinos generate 300-2,000 direct jobs per location, varying by size and location.

Jobs range from entry-level roles to executive positions, usually offering competitive pay.

How One Job Makes More

The impact of one hire extends further.

Each casino job creates an additional 1.3 jobs in:

• Hospitality
• Restaurants
• Entertainment
• Security
• Finance
• Technical support

Casinos Helping Small Places

Rural employment increases with legal gambling. Key points include:

• 3-5% more jobs
• Year-round employment
• Enhanced financial stability
• Career advancement opportunities

Tourists and Places Getting Bigger

Travel and Big Places: Gaming’s Role

How Gaming Changes Travel

Legal casinos alter travel dynamics, attracting 15-30% more visitors initially.

They establish popular destinations, benefiting local economies.

Cash Made and More Travel

Major casino sites generate substantial revenue, yielding $3-5 additional spending per gaming dollar across:

• Lodging with high occupancy
• Restaurants
• Retail spaces
• Entertainment venues

Building Up the Area

Gaming’s attraction spurs development, benefiting:

• Infrastructure
• Convention centers
• Leisure and education facilities

Nearby areas see increased visitor engagement and spending.

Costs in Health and Society

How Gambling Hits Health and People

Good with the Bad

Substantial revenue from gaming, along with significant social and health challenges.

Studies indicate problem gambling impacts 2-3% of adults in these regions, increasing healthcare costs.

Health Spots Feeling It

Problem gambling leads to more cases of:

• Depression
• Anxiety
• Addiction

Casinos contribute to a 30% rise in emergency visits for gambling-related issues nearby.

Financial difficulties increase by 10% in gambling areas, placing additional pressure on communities.

Hurting Health Setup

Health systems face challenges:

• 40% longer wait times for services
• Increased demand for mental health support
• Delayed treatment for affected individuals
• Financial constraints hinder recovery
• For each gaming dollar, $3 is spent on addressing health issues

Data underscores the heavy burden on health and social services, necessitating effective community strategies.

How People Spend Changes

Money Moves in Gambling Spots

Spending Tweaks

Spending behavior shifts significantly where gambling is legalized.

Disposable income shifts towards gambling in the first year.

Savings decrease when gambling venues exist.

Money Moves at Home

Proximity to gambling facilities alters household spending.

Individuals near gambling sites spend **23% more** of their discretionary income on betting.

Local businesses experience a reduction of $0.35-0.45 per gaming dollar.

Money Choices and More Credit Use

Credit usage changes near gambling venues.

Areas near new casinos experience a 15% increase in credit use.

Such changes affect financial decision-making and community economic patterns.

Main Money Points

• Increased spending on gambling: 12-18% shift
• Reduced savings: 7% decline
• Decreased revenues for nearby shops: $0.35-0.45 reduction per gaming dollar
• Increased credit use: 15% rise in adjacent areas
• Increased use of personal funds: +23%

What Happens to House Costs?

House Market Changes by Casinos

Where it Costs More

House prices within 1 mile of casinos typically increase by 15-20% initially.

Shops by Casinos Win Big

Retail outlets near casinos see substantial price hikes, with costs increasing by 30-40%.

Accommodations thrive, with a 25% increase in hotels.

Houses Near Casinos

Real estate markets react differently to casinos:

• Luxury apartments and condos appreciate Gambling on Local Economies
• Detached homes vary by location
• Proximity to gambling venues significantly impacts value

Town Money From It

Municipal tax revenue increases:

• Property tax collections rise 8-12% post-casino opening
• Enhanced municipal revenue for services
• Stabilization occurs within 5-7 years
• Excessive numbers can diminish property values

When Markets Settle

Casino markets reach equilibrium:

• Initial excitement fades
• Income levels normalize in saturated areas
• Equilibrium achieved by year 7
• Visitor demographics shift in mature markets