Control Of Ability To Gamble Essay

Gambling involves wagering money and other valuable materials with the intent of winning more money and material things though unaware of the outcome. Gambling can either be in casinos, over the internet, electronic games and table games. Other types of betting are such as Fixed odds betting, sports betting, arbitrage betting and parimutuel betting. Most individuals amble as a form of recreation, earning income and due to this, it can lead to psychological addiction. In addition, sometimes gambling leads to behavior that is harmful to the individual and those close to him/her such as stealing. Although gambling has harmful effects, it is also profitable in the gaming entertainment business. Many entertainment spots offer gambling services of all sorts from poker to slot machines and the customers decide which game to pursue.
An excellent example is Las Vegas, which is a city well known for gaming entertainment and offers a wide range of games for customers to engage in while in the city. The city attracts a significant number of people and serves as a tourist attraction. The city is full of casinos and this can lead to problematic gambling. For instance, the legal gambling age in Las Vegas is twenty-one and this makes most young adults to be very vulnerable to become gambling addicts. Statistics carried out by the American Gaming Association reveal that there are 11 states with commercial casinos. In addition, 28 states have Indian casinos while in Colombia there are approximately 40 lotteries. The casinos generated around 29 billion dollars in gross revenue in 2004 and are increasing yearly.
There are various laws that surround the gaming business, which enables business owners to refrain from liability. The laws also help the government to mitigate risk when people file their tax returns and claim gambling losses and business expenses. Most people view this as bullying by the government or as a way for the government to rip its citizens. there are also many jurisdictions that control gambling through giving lofty licenses to businesses or banning gambling both locally and nationwide.
The gaming business creates a lot of profit but also has moral implications when the customers become addicts. It is difficult to draw the line when gambling is recreational and when it turns to an addiction. Furthermore, there are no laws that protect the customers in case they form an addiction such as casinos restraining individuals with huge debts. This is so because the main interest of the business is to generate profit. Most people also say that the house always wins which in the end shows that customers benefit rarely in terms of monetary and material gains. Only a few individuals get to either win in casinos in slot machines or while playing soccer. This is because there are legislations that oblige gaming devices to be statistically random to prevent high pay offs and decrease the possibility of winning. This opens up an opportunity for house bias, which is not easily detectable.