![]() ![]() ![]() In 2007, Americans lost over $92 billion as gambling debts, their losses nine times higher than in 1982, and almost 10 times more than the total of money spent on movie tickets by Americans in 2007. Former Governor of New York, Mario Cuomo, once said, “There is a respectable body of economic thought that holds that casino gambling is actually economically regressive to a state and a community.”Ī collection of information on gambling, based on different studies and cases showed its disastrous consequences – destroying individuals, breaking up families, increasing crime and costing more money for the government than revenues earned from gambling. The government, now, spends about $6 billion each year on gambling related problems. In 2016, tax payer dollars for problem gambling went up to $73 million. Studies show that over 80% of American adults gamble annually, and about 750,000 teenagers in the ages 14-21 are addicted to gambling.įederal and state expenditure shows that gambling addiction is a burden to society as a whole. In fact, the North American Foundation for Gambling Addiction Help says that about 2.6% of Americans, or about 10 million people, suffer from some form of gambling addiction. English writer, Own Feltham, said, “By gaming we lose both our time and treasure, two things most precious to the life of man.” But that does not stop people from gambling. It may be human to be tempted, but the consequences of being tempted to gamble could be disastrous. ![]()
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