Gambling Deeply Engrained In Western Cultures

Published Monday, April 02, 2018 - Online-Casinos.com
Gambling Deeply Engrained In Western Cultures

Gambling has been installed as a cultural necessity in some jurisdictions. The way governments reap the benefits from all the different types of betting is a case of needed regulation. Governments are becoming just as dependant on the revenue gains from the wagering public as they do on their income tax.

We have become addicted to the culture of wagering. Television adverts, sports team sponsorships and many other media sources encourage the public to bet. British bookies and operators of online gambling web sites are upset the U.K. Gambling Commission wants to set limits on the way they offer their products. Some critics have even suggested the betting shops and online sites should be nationalised, in the same way the lottery is owned by the public. The British National Lottery Camelot is run by a private company with a small percentage going to the company but the majority of the profits are returned to community projects and the general well being of the citizens. The efforts to stop money laundering and problem gambling would be easier to address.

There has been a lot of discussion regarding fixed-odds betting terminals which are considered by many to be a mindless form of taxation that the owners of these machines collect to excess. In the year ending September 2016, £1.8bn was wagered on them in the U.K. including 233,000 sessions where players ended up with more than £1,000 in losses. Most of this cash was turned into profit for the bookies.

Keeping in mind we have become accustomed to the adverts and the sponsorship efforts and the perceived understanding that the gambling industry will control itself it seems to be a little late for the regulatory bodies to scale back the intertwined culture. Gambling problems are not just for individuals but also for governments that need the revenue. There are a lot of people employed by the betting industry and they pay taxes and buy groceries.

 

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