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ILS2325 Economics of Sin: Economics of Legal Gambling

Socioeconomic Costs

Costs:

> Bankruptcy and Foreclosure

> Crime

> Family Instability

 

Benefits:

> Added income for gambler

> Supports local business (Casino)

 

Sources:

National Academies Press

Brookings Institution

Fraser Institute

Help for Compulsive Gamblers

Psychological Costs

Costs:

> Can lead to addiction

> Causes mental/emotional highs and lows

 

Benefits:

> Uses gambling as an escape 

> Produces serotonin and dopamine in the brain

 

Sources:

NCBI

Scientific American

Psychology Today

Pathological Gambling