The Era of Legalized Gambling: For most of human history, gambling has been taking place, and it has remained a controversial topic to date. Although gambling has become an accepted social reality today, and most people now will probably gamble at some point in their lives, it is still a significant bone of contention for governments worldwide.
One side of the argument views gambling as inherently harmful to an individual’s social and economic well-being. At the same time, the other sees it as a thrilling and fun hobby that would exist whether it’s legal or not. To balance the risks and perks of the activity and counter the negative argument, more and more governments are legalizing gambling today.
No matter where you stand in the debate, whether for or against gambling, we will provide you with a comprehensive guide to legalized gambling in this article.
What is Gambling?
Gambling refers to any activity that involves risking something of value like money by wagering it on an uncertain event to win more money or something else of value. The outcome could either be determined by chance alone, as in playing the lottery, or a combination of chance and skill, as in sports betting.
How did Gambling become legalized in the world?
Humans have always had a back-and-forth relationship with gambling. At certain historical points, authorities and governments strictly regulated gambling with severe punishments. At other times, authorities endorsed lotteries to fund state projects, as in Ancient China, where keno slips were used even for constructing the Great Wall of China.
Dating back to the 15th century, governments began to raise funds using organized sanctioned lotteries. With the emergence of legal casinos and the enormous revenue generated for governments, the legalization of gambling became increasingly popular.
Today, many countries have legalized gambling, although the laws depend on the type of gambling and the part of the country. For example, while gambling is tagged illegal in the US by the Department of Justice, different states have different laws regulating or, in some cases, banning the activity. Furthermore, the online gambling sector has taken the US by storm since New Jersey legalized Internet gambling in 2011. As a result, many states are starting to legalize online gambling.
With the advent of the internet and mobile devices, gambling exploded in popularity through online sites and apps. Virtual casinos are rapidly expanding, featuring an ever-increasing range of gambling operators and games. This increase in accessibility has promoted gambling even among college students. Many students can now enjoy this pastime with as little as £2 on a minimum deposit casino UK for everyone. Given its prevalence and glamour, today’s teens and young adults see gambling as a fun activity and therefore gamble responsibly.
A Brief History of Gambling
Gambling is an activity as old as humankind. It is said to have originated as a means for man to consult the gods by casting marked sticks. We have the earliest evidence of betting coming from Ancient China with tiles and keno slips used as some sort of lottery.
History is filled with evidence of bans and penalties imposed on gambling for moral reasons. However, there has been a gradual shift in the official attitude to gambling over time as governments, and other authorities began to use lotteries to raise money. As a result, gambling is now widely considered a mostly harmless and fun activity.
Gambling houses and casinos arose in the 17th century marking an increase in the popularity of gambling. Since then, several games and machines have been invented, leading to a growth in this industry. In addition, the internet took gambling to a whole new level, making it accessible like never before. Today, gambling is a multibillion-dollar industry, with about 26% of the world’s population involved.
There is no doubt that the legalization of gambling has brought great benefits to countries worldwide. Moreover, legalized gambling has become a highly lucrative venture for governments, grossing billions of dollars yearly.
At the same time, we cannot dismiss the potential harm associated with gambling. So, governments try to regulate the industry and provide support systems for players carefully. For example, the UK offers a self-exclusion agreement for players who need a break from gambling.
Everyone must take responsibility for their actions. It is up to you to gamble responsibly. And since gambling will still go on whether we like it or not, legalizing and regulating the activity to make it as safe as possible is our best bet.
Mila Roy is an experienced writer with years of crafting well-researched content under her belt. She possesses sharp analytical skills and a dogged curiosity that enables her to create engaging, dead-precise, and unique essays. You can find her reading books, practicing yoga, or walking her dog in her free time.