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Since casino gambling was legalized in United States of Nevada and Newjersy in late 1980’s, there is huge growth in annual gambling revenue in 26 states for $32 billion in 2006. Earmarking gaming revenue for education has become popular in education funding amounts in following countries Illinois, Michigan, and Missouri. “Earmarking” is defined as the practice of nominate specific revenues to the financiers of specific public services. (Buchanan, 1963).
As per the research there are mainly three distinct findings were made
1) Very small amount of casino tax revenue was displaced in above countries.
2) Huge increase in Earmarked educational funding was introduced in corporate casinos in all states.
3) Earmarked casino annual revenue supports the states to stabilize the state annual appropriation
For educational spending of money.
In response to The Spatial Evolution of Casino Gambling, Congress man has passed the Indian Gaming Regulatory Act (IGRA) in 1988. IGRA mainly find three kind of gaming, upon that Casino Gaming has legalized in some form in the state.
I will support for the promotion of casino in my state. So there are various kinds of pros and cons for casino gambling.
1) Gambling always helps in winning money if you are smart enough to understand the situation and luck in on your side to win lot of money.
2) Gambling is a place where to attract tourism. Surrounded casinos, hotels can make money for the state income.
3) Casinos winning money will bring more taxes to the state.
4) Casinos will leads to increase in the states revenue but will also provide huge amounts of jobs to the state people. Not only jobs available for casinos, there will be lot jobs in bars, spas, restaurants and more. For example LasVegas and Atlantic City attract people and leads to more jobs.
1) Few people, who lose more money have chances of making crime and sometimes leads to more depression.
2) Sometimes gambling is more addictive and leads to bankrupt.