How the gambling industry affects the local, regional and global economy
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1 How the gambling industry affects the local, regional and global economy September 2015 Casino Release Special Report by Sarah Bell
2 Table of content About the author...3 About Casino Release...4 The history of gambling...6 A wide range of benefits...7 EU gambling market...9 Benefits to healthcare, education and charities...11 Gambling boosts the employment rates...12 Where does the money go?...13 Funding addiction programs...15 Entertainment industry and tourism...17 A lucrative industry that is here to stay
3 About the author Sarah Bell has been Editor-in-Chief of Casino Release since June She joined the online gambling guide in 2012 as a reporter for casino events in the state of New Jersey. After she was named Editor-in-Chief she began writing news, articles and research papers for both Casino Release and Casino Release USA. From the moment she started working with Casino Release, Sarah Bell has been helping establish the online casino guide with her expertise in online media, publishing, marketing, management and public relations. She is a passionate supporter of education reforms in USA and has been volunteering at seminars that promote violence free schools. When she is not reporting on gambling news and casino promotions, Sarah enjoys reading and travelling. Connect with Sarah: Facebook Twitter 3
4 About Casino Release Casino Release is an online gambling magazine that offers an indepth view of the gambling industry complete with latest news, online games, gambling guides and a list of best online casinos for all types of players. Trusted by millions since 2010 our vision is to bring you unbiased and real-time information, whether you are a gambling industry professional that always needs to make the right decisions on time or a player looking for best ways to start and maintain a successful gambling career. Click Here For Latest Gambling News Through our Special Report series of articles and news on Casino Release website our gambling experts will share with you years of experience and their expertise to help you get a better view of the entire gambling industry. The latest industry trends, relevant legislature changes as well as news from the most relevant companies will help professionals to organize their business and stay up to date with all important topics in the gambling industry. Players can find all the best reviews, promotions and guides on Casino Release which will help them make the right choices when choosing a casino, get extra value for their money and learn the best tips for becoming a successful casino player. Visit Casino Release 4
5 When gambling comes up in a conversation, people usually refer to it as one of the biggest vices a person can have. The truth, however, is that gambling brings a lot of benefits to economy and society that people seem to forget to mention way too often. In many countries there is also a belief that gambling is sinful as well as that it represents a great danger to a person s health and well-being. Gambling certainly can bring problems and grow into a gambling addiction, as science shows that it causes severe changes to brain function. Nonetheless, gambling plays a significant role in society by providing funds for institutions that run it and for the country s economy. It raises employment, improves the entertainment industry, increases government budgets and boosts tourism. 5
6 The history of gambling Gambling represents the act of wagering money or any other form of material value on an event that has an uncertain outcome. The primary goal of gambling is winning additional money or material goods, which, if permitted by law, is often referred to as gaming, although the two are not necessarily the same. Some of the most popular games originate from Europe and China while the Bible contains references to gambling as well. There are many types of gambling, like casino games, video poker, bingo, lottery, slots, scratchcards, sports betting, etc. However, the most popular nowadays must be online gambling which keeps growing with every day in the world of modern technology and the Internet. 6
7 People around the world have access to online gambling providers and can play their favorite games from their homes, offices, cafes, the streets and so on. The technology and the modern banking system have also enabled quick and safe money transactions which makes gambling easy and accessible. Online gambling gained popularity in the late 1990 s with the number of websites offering Internet gambling growing every single day. As in land-based gambling, players can enjoy online poker, roulette, blackjack, baccarat, sports betting, bingo, slots, lotteries, horse racing betting, all via mobile phones, computers and smartphones. The only problem is that in many countries online gambling is not legal and therefore needs to be avoided. A wide range of benefits There are numerous examples all over the world that prove that gambling is highly beneficial to economy, that it brings extra revenue into a country s budget and raises the employment rate. A research by Oxford Economics showed the impacts of gambling and gaming industry on the economy of the United States, one of the largest gaming markets in the world. The study which was done in cooperation with the American Gaming Association included Native American casinos, commercial casinos and manufacturers of gambling-related products. 7
8 The research showed that US gaming industry brings in about 213 billion to the country s economy, which is the total state budget of Texas and New York combined. The industry provides 1.7 million jobs and produces almost 65 billion in income. The tax revenue that goes to local, state and federal government amounts to 33 billion. We ve known for a long time that our industry s contributions have gone underestimated, but these numbers are bigger than even we anticipated, Geoff Freeman, president and CEO of the American Gaming Association. If we look at the research in more detail, it turns out that the US casinos produce total revenues of more than 72 billion. Gaming 8
9 equipment manufacturers who build slot machines, table games and other products used in casinos generate nearly 5 billion. Furthermore, let s not forget over 12 billion in consumer spending at retail stores, restaurants, hotels and other businesses that are part of the gambling industry as well. Gambling also generates about 53 billion in payments to suppliers. As part of their research, Oxford Economics revealed that the gambling industry produces about 15.4 billion in federal taxes. Another 9.8 billion go to state and local taxes while 8.9 billion is generated in state and local gaming taxes. These 34 billion invested into the budgets financially support a wide range of services that include hospitals, schools, public safety, and others. Australia is known for being a gambling country with some of the world s biggest casino enterprises and the gambling tax-es amounting to 3.8 billion in 2011/2012. These same gambling taxes in the 2011/12 financial year accounted for a large and significant proportion of total state and territory taxes, especially in the Northern Territory (13.2%), Victoria (11.5%), South Australia (10.7%) and Tasmania (10.6%). EU gambling market Online gambling predominates and is the fastest growing service in the EU gambling sector with its annual growth rate of almost 15%. In 2015 the annual revenues are expected to reach 13 billion, a lot more compared to the 9.3 billion in 2011, with about 6.8 million consumers participating in gambling currently. 9
10 The European Commission estimated that in 2011 the annual revenue of the EU gambling market amounted to 84.9 billion. What is even more interesting, the annual growth rate is around 3%. Since gambling and online gambling in the EU are characterized by different regulatory frameworks from country to country, making an overall estimate of the benefits the industry brings to the European economy and society is hardly possible. Taking in mind the individual reports by countries like the UK, Germany, Italy or Austria, it is evident that the European gambling market is just as lucrative as the Unites States or Australian. For example, Casinos Austria turnover was 273.9million in Germany s 73 casinos earned revenues of 625million. In Italy, gambling and betting spending was 87billion while the total revenue of land-based casinos was 364million. Spain s total gross gaming revenue amounted to 305million. The UK s casinos saw total revenues of 1.035billion in In some European countries, especially as far as online gambling goes, either public or private operators run the market. Then there are other countries that have established licensing systems for more than one operator. Whichever the case, the European Commission works to ensure that the countries that are members of the EU comply with the EU law framework, protect consumers and citizens, prevent money laundering and fraud, and keep the integrity of sports by preventing match-fixing. 10
11 Benefits to healthcare, education and charities Looking back at the benefits gambling brings, we can also take British Columbia as a great example, since its total government revenue from gambling taxes reached 806 million in The chart below shows the distribution of this gaming revenue showing that a large portion goes into local development, responsible gambling organizations and the community. DISTRIBUTION OF GAMING REVENUE FOR FISCAL YEAR 2012/13 (million EUR) In year 2012 and 2013, more than 700 million of gambling revenue was used to fund health care, education and several community programs in British Columbia, meaning that 87 cents of every dollar that was gambled went back into British Columbia communities. 11
12 DISTRIBUTION OF GAMING REVENUE FOR FISCAL YEAR 2012/13 (million EUR) Revenues Spent to Sustain Gaming Operations 6,2 Bilion EUR Revenues Generated for Goverments & Charities 5,2 Bilion EUR The Canadian Gaming Association published that of the whole gambling industry revenue of 11 billion, 6 billion is generated for governments and charities, with 5.5% for charities only, as the graphic above shows. Gambling boosts the employment rates As far as employment goes, the gaming industry supports approximately 734,000 US workers and generates wages of nearly 29 billion. When casinos purchase goods from suppliers they 12
13 support about 383,000 jobs while gaming employees spending sustains 595,000 jobs. When we add the numbers up, the industry supports more than 1.7 million jobs and produces 65 billion in income. For comparison sake, the numbers are higher than what the airline industry produces. The Canadian gambling industry employs over 135,000 Canadians, pays more than 1.4 billion in salaries and fuels over 7 billion in current capital construction. In Australia, more than 20,000 people work in the gambling industry, reports from 2010 show, while the numbers keep growing with every day. Where does the money go? To provide some concrete numbers as to where the money actually goes, let s look at some of the positive reports provided by state gaming institutions. Some are fairly detailed while others provide only overall figures. Iowa Gaming Association (IGA), for example, offers a thorough report about the way the government utilized the money. The industry paid 294 million in city, county and state gaming taxes in 2013, and every cent was put to a good use. Around 35 million was allocated to the general fund with a large portion used for education. Therefore, 4 million is invested in 13
14 the school infrastructure funds annually. A great chunk of the money goes to the Rebuild Iowa Infrastructure Fund (RIIF) that is used for funding new buildings, upgrading fire alarm and sprinkler systems, the state universities and schools for the deaf and blind. Another interesting detail is that IGA supported Iowa s agriculture by purchasing millions of pounds of chicken, beef and turkey, thousands of gallons of milk and several million eggs. IGA helps fund building renovation, school infrastructure, historic preservation, fairs, environmental projects and charity programs. Nearly 9,000 people were employed and the annual 14
15 payroll amounted to 247 million. Also, thanks to the gambling industry, there are 21 million visitors staying at the convention and hotel facilities every year. In the UK, the gambling industry supports the Responsible Gambling Trust that funds research, education and treatment of gambling addiction. According to the Trust, the gambling industry has voluntarily raised over 34 million for funding education, research and treatment services. New Zealand is a country with a well-organized and unique system that provides millions of euros for the community, all coming from gambling money from slots in clubs and pubs. It is estimated that 418 million was distributed to many community causes from revenues collected from gambling, including problem gambling programs. Funding addiction programs In Austria, the largest casinos in the country, Casinos Austria, provide 700k for fighting gambling addiction programs. Also, Novomatic, the casino and gambling machines supplier, grants large amounts of money for these purposes, but the company officials keep the exact amount a secret. Austria earns about 450 million in taxes from gambling. In some parts of Austria the government funds about 70% of all social services and programs from gambling taxes. Therefore, thousands of organizations raise funds for their projects and services through gambling. Last year, their revenue was about a quarter of a billion dollars. 15
16 Alberta, Canada, allows gaming activities like bingo, raffles, pull tickets and casino games to be conducted only by eligible charitable or religious groups that obtain licenses that allow them to organize gambling activities. The National Gambling Board (NGB) of Africa published a survey in 2012 containing national gambling statistics for the 2011/2012 in which it reported that gross gambling revenue for all sectors was 1.3 billion. The allocation of this money is shown in the chart below. DISTRIBUTION OF GAMING REVENUE FOR FISCAL YEAR 2012/13 (million EUR) 36,39 19,93 17,13 14,68 10,33 0,97 0,57 As far as social investment goes, millions are spent on energy saving, the environment, sports programs for young people, HIV awareness, health services and facilities, gambling addiction programs, schools, SOS villages for orphaned children, crime prevention, public infrastructure, etc. 16
17 Canada s OLG Gaming Centres provided 92 million for their communities, which was used to fund college and university campuses, hospitals, community centers and charity programs. 26 million was invested in goods and services bought from local businesses, 16 million in sponsorship of community festivals and events. Along with the Ministry of Health and Long-Term Care they spent 37 million on responsible gambling. Entertainment industry and tourism Besides the financial benefits that the gambling industry brings to both the government and the citizens, we must not forget that it primarily serves to provide entertainment. Also known as the 17
18 gaming industry, it is always designed in such manner that it attracts visitors and players, offering them a chance to have a good time and earn some money along the way. In order to do so, those who are in the gambling business know that they need to interact with and join other industries in order to achieve their goal. Singers, actors, sportsmen, politicians, they all join the gambling world just as the ordinary people do, sometimes for their own enjoyment, sometimes as a part of a cooperation to promote a brand. For example, Celine Dion has been performing for years in Las Vegas Caesars Palace, singing for billions of fans who enjoy her music. Musicians are often there for casino openings, like in 2009 when Jennifer Lopez and Marc Anthony sang at Monticello Grand Casino in Chile. We have witnessed famous actors staring in casino commercials, with the recent Leonardo DiCaprio and Robert De Niro commercial for Melco Crown Studio City. As far as tourism goes, casino openings are often a result of a need to boost an area and its economy and they have historically been associated with destination resorts like Monte Carlo, Las Vegas or Baden Baden. In recent years, casinos in US and Australia usually get authorization for the explicit purpose of increasing tourism rates, which is what countries surrounding China have been doing to attract players from Macau. Tourism means more hotels to welcome visitors, especially those coming from countries where gambling is illegal. More hotels, more players in casinos and more money spent and earned. 18
19 A lucrative industry that is here to stay Considering the size of the gambling industry worldwide, individual countries work on building and obtaining laws and regulations that would keep the industry under control, well organized and clear of illegal actions, while keeping players and their money safe. From fear of the enormous work to be done, some countries ban gambling, either all forms or just online gambling, which may be the most complicated sector since it easily surpasses national borders. The better the laws and regulations are, the more benefits a country gets from the gambling industry. For example, the 2014 has been a year of regulatory forms taking place in the UK which introduced and enacted Gambling Licensing and Advertising Act 2014 and several regulatory proposals in Western and Eastern Europe, with the focus, of course, being on online gambling. From all of the examples that come from around the world and show that gambling has numerous benefits to it, it is obvious that the industry is large, lucrative and is here to stay. Considering all the studies and facts, proper regulation of online and land based gambling, well-crafted laws and policies could be the best way to allow gambling to further innovate, reinvest and contribute to countries and their local communities, create jobs, strengthen local businesses, economy and tourism so that everyone can enjoy it while staying safe at the same time. 19
20 Therefore, the purpose of this special report by Casino Release is to raise awareness of the enormous benefits gambling has in today s society and what a great loss it would be if it were to be suppressed or banned. It also hopes to raise awareness of the fact that the growing online gambling industry is taking over the world s largest gambling markets and aims to expand on other as well. Hopefully, this report will furthermore accentuate the importance of joining forces in monitoring and regulating so that the industry is given a chance to fully contribute and benefit all parties involved. 20
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