The gambling industry has been gaining prominence in Australia. In the last two decades, gambling industry has substantially grown with the opening of casinos and also its legislations. Gambling is causing adverse impact both on the society as well as on economy. This study is going to deal with the history of gambling. There will be an attempt to make in this study for understanding the causes for growth of the gambling industry. The special focus of this study is on online gambling.
History of gambling
Gambling can be defined as staking of money on unnecessary vents. Gambling is solely based on chance and luck. Online gambling can be categorised in two broad groups namely: interactive wagering and online gaming. It has been found that people prefer to gamble in casinos rather than on internet (Bitar, 2017). It is assumed that online gambling began with the advancement of computer technology around 1990s. Although Australian government has encouraged other forms of gambling but it seems to have problem with online gambling. The government was of the viewpoint that online gambling will result in less revenue generation. Online gambling cannot be regulated or properly monitored by the government. This form of gambling gained popularity with the Interactive gambling Act 2001(legisaltion.gov.au.2017).
The people of Australia had been influenced by the people of Britain in case of playing gambling. The popular online gambling games are blackjack, roulette, pokies, keno and many others. As per the viewpoint of Clark (2015), in Australia, the gambling is considered as the favourable pastime as people do not need to go outside for spending their free times. In the constitution of Australia, gambling is considered as the legal pastime. The government Australia does not take this game as a profession of the people (casino.com.au, 2017). However, in the recent days, there are many online sites of gambling available in the internet. People have felt addiction for playing gambling. The habits and tradition make the game popular in the market of Australia. It had been observed that, in order to enjoy free time with friends, Australian people like to play pokies.
Online casinos are operating in the industries devoted to payment card. The online casinos are also termed as virtual casinos. Online casinos provide payback percentages to its users (Delfabbro, 2014). The casinos generally conduct programs such as table games and random number generator. There is certain web-based casino that does not make use of software for game downloading. There games are represented in various kinds of browser plug-in that include macromedia shockwave or java. In the online casinos the result of the games are solely based on the data that is generated by a pseudo number generator (PRNG). It helps in determining the proper order of the games. The PRNGs adopts a number of algorithms for the generation of large stream of numbers.
In order to play online gambling, many online sites are available. As asserted by Griffiths (2016), the bigger sites of online casinos provide chance to the players of choosing their own currency. It makes the game easier to the players. Maintaining the above mentioned process, the players have faced huge downfall of money. It has been seen that, the country's gamblers have lost around £ 13.8bn. It has left the bad effect on the country (theguardian.com, 2017). It leaves the effect on the economic condition of the country. It is also seen that casino gamblers help to earn around 5.9% revenue in metro system of Australia. The online gambling can destroy the life of the people, however, at the same time, can build revenue for the country of Australia. In order provide safety in time of playing gambling, people need to use the eCOGRA approved sites. In these sites, people have gathered the experience of secure gambling.
Australia has a large number of disgruntled gamblers. Gambling is influencing economy and society of Australia (Ellison, 2017). Mostly youths are getting addicted to online gambling. Government has strengthened rules regarding online gambling still it is continuing. One of the major causes of online gambling is government's failure to put restrictions on cannabis used by the youths. It has been found that in compared to adults, youths are more engaged in online gambling. There are people who are unaware of the fact that online gambling is prohibited in Australia. Few Australians does not have any knowledge regarding bad impact of gambling on their lives (Frahn, 2015). Australian government is required to work towards restricting its citizens by spreading awareness regarding bad effects of online gambling in Australia. The growth of internet has been a prime factor behind growth of gambling activities. Youths are getting easy access to internet, which is one of the biggest because of their addiction to online gambling. It is the duty of the government to enact laws for reducing the gambling activities over the internet. It can be said that internet is the driving force behind popularity of online gambling.
In the report of ABC News of 2011, it had been monitored that around 70% Australian people took part in gambling. The famous grumblings were scratchiest and lotteries in that time. As Australian people are not aware of gambling, around 115000 people are signifies as “problem gamblers” and around 280000 people are at “moderate risk”. The machines of electronic gaming have run in loss around $1800 in Queensland, $3700 in NSW (New South Wales) and many others (abc.net.au, 2011). It creates the economical problem in the society of Australia. It has been seen that in poker machines, the problem gamblers have contributed around 40% money. As people are addicted in this game, they have no tendency of leaving the habit. In this case, people face huge loss of money. The online gambling is able to destroy the life of people of Australia.
Effects of gambling on society
The significant growth of online gambling in the past few years in Australia have put significant impact on society as well as on economy. Online gambling has both directly as well as indirect impact on different people. The individual who are working in gambling industries can be called a direct victim of gambling (Libraryindex.com. 2017).On the other hand those individuals who interact with people involving in gambling activities becomes an indirect target of online gambling. The social influence of gambling is mainly related to opinions or perceptions of people. It has been found that the youth are addicted to online gambling and as a result they are losing concentration in their studies or their career. Another drawback of online gambling is that it is increasing the rate of cyber crimes. A number of privacy issues are associated with this type of gambling. As mentioned by Chithiramohan & George (2016), gambling has left huge effects like financial cost, criminality, health services and many others on the society.
Financial cost: As people have addiction in gambling, it increases the number of unemployment in the country of Australia. It has been noticed that, in 2013, around 65% people were unemployed, whereas, in 2012, the number of unemployed people were around 78%. The people have claimed that they lost around £ 20766 amounts (gordonmoody.org.uk, 2017). In this case, it creates huge problems like economical, social and many others in the country.
Criminality: As people have faced huge loss of money, they need to earn money. In order to earn money, they make crime. As the people loss huge amount of money, they choose the dishonest ways like stealing and many others for earning. Hence, the morality of the people is decreased day by day. Therefore, it creates the unhealthy society in Australia.
Effects of gambling on Economy
In many countries, online gambling is seen as one of the suitable medium for earning revenues. The online casinos are helping the government to incur revenues and earn maximum profit. It has been found that these casinos are assisting the government to take control over their limited budget. It is a kind of helping source for the government. However, the benefits of tax generated from online gambling is utilised only by the owners of such casinos as well as by the government (Libraryindex.com. 2017).. There are some of the people who are largely benefitted with online gambling and they include internet providers, cable companies and software companies. It has been found that those people who are not engaged in online gambling have to incur huge financial loss. This is because the payment of online casinos is incurred from the credit card of non-casino players. It seems that the online gambling have more adverse impact on society in compare to economy. Internet has been suffering highly because of online gambling. Litigation costs are transferred to the credit card of other customers (Gainsbury, 2017).
As most of the people of Australia have wasted their money playing gambling, it ensures the declination of economical condition of the country. It has been noticed that, in the online gambling, people have invested around 50%-60% of money. Thus, they face the problems of poverty. On the other hand, around 0.17% people is able to get back the money. Hence, it decreases the economic condition of the country of Australia.
On the other hand, Smith & Simpson (2014) stated that, the online gambling helps to increase the revenue of the country. Gamblers help to increase around 5.9% revenue in the metro department of Australia. This indicates that, gambling helps to increase the economic condition of the country, however, at the same time, it can ruin the economic standard of Australia.
The study illustrated the fact that online gambling in Australia is causing huge impact on the society as well as on economy. It is required to minimised so that people are not at the risk of becoming victim of gambling. Some of the recommendations include:
Keeping control over temptation: People easily gets addicted to gambling and so in order to minimise online gambling, first step is to keep a control over their temptations. It is found that youths become easy targets of online gambling because of their access to internet. It can be recommended that they should try to block online gambling sites for reducing temptations.
Participating in other sports: The youth needs to try to involve themselves in other sports in order to distracting them. The individuals who are addicted to online gambling need to engage with non-gambling friends and by participating in interesting activities.
Need to give fine: In order to reduce the number of gamblers, the authority of Australian government have introduced that, the gamblers receive the monetary punishment for gambling. The above mentioned policy helps to decrease the numbers of gamblers in Australia. It would help to increase the number of employed people. Therefore, the economic condition of the country would be high.
Strengthening of laws: The government of Australia can regulate in case of using internet. They are required to restrict sites that are advertising online gambling.
Awareness among public: Public should be aware of the bad impact of online gambling. The government needs to sponsor programs that will help the gamblers to understand the effects of gambling on their lives as well as on their finances.
After going through the above-mentioned study, it can be said that online gambling has a drastic impact on the society and economy of Australia. One of the main reasons behind prominence of online gambling is less restrictions of the government on the sites featuring online gambling. It is the duty of the government to monitor the whole process of online gambling. The youths should be made aware of the effect of online gambling on their future. Online gambling has made the society slave of internet. People are losing concentration on their career or education and are losing capital in such unfruitful games. Online gambling is going to ruin both economy and society if it is not regulated by the government o0f Australia. Therefore, it can be said that online gambling should be restricted and banned.
economics assignment, economics homework help, microeconomics assignment help, microeconomics assignment help, managerial economics assignment help, microeconomics homework help, economics homework, online economics assignment help, business economics assignment, economics assignment help online, microeconomics homework help, do my economics assignment, business economics assignment help, do my economics homework, international economics assignment help, economics assignment writing service