The state of New Jersey has become the epicenter of significant growth in the gambling industry. These resulted in the rise in the number of casinos, bookmakers, and other gaming grounds. The boom of the gambling industry has, of course, had the advantage of providing the state with greater economic benefit. Nevertheless, it has however created a number of serious concerns including: increased gambling addiction and crime rate, as well as social stratification. This article will look at the gambling industry history of New Jersey, showing the effects of the boom industry on the state, society and economy.
History of the development of gambling in New Jersey
Gambling has been a long and tumultuous part of the New Jersey story since the late 19th century. At that time, horse racing and other gambling forms used to be fashionable. This fact, however, did not get to the legislative acceptance until 1976 that casinos were permitted in the state and succeeded in establishment of many of the large gambling facilities in Atlantic City.
The gambling industry was an important factor in sustaining the state economy, giving employment opportunities and generating revenue for the state. Casinos, bookmakers, and various gaming establishments were visited by the tourists that often came to the places and brought significant tax revenues with them.
It is noteworthy that New Jersey has been one of the front-runners in the field of online gambling in the United States. Since online casinos had been legalized in the state online casinos back in 2013, several big casino operators have come up on the virtual scene with their websites offering a diverse portfolio of games from slots to sports betting. Thus, New Jersey online casinos have offered another revenue-source and a convenient opportunity of playing and having fun at home.
This expansion has resulted in more games available and easier access to gambling for New Jersey residents, raising concerns about increased gambling addiction and greater access to gambling for vulnerable populations.
The impact of gambling on New Jersey’s society and economy
A. Dependency and financial problems among players
– An increase in the number of problematic and dependent players, resulting in personal, social and economic problems.
– Financial difficulties including debts, bankruptcies and loss of jobs for players and their families.
– Stress on the social safety net that provides assistance to addicted players and their loved ones.
B. Impact of gambling on local businesses
– Competition between casinos and local businesses for customers and resources.
– Revenue leakage from local businesses such as restaurants, bars, and stores as players spend their money at casinos.
– The emergence of a “casino effect”, in which increased gambling leads to decreased economic activity in other sectors.
C. The effect of gambling on tourism in the region
– Attracting tourists to New Jersey, which increases employment and revenues in the tourism industry.
– Increased revenues from tourism taxes and gaming fees.
– Offering hotel, restaurant and entertainment services to tourists attracted by casinos.
– Providing economic incentives for infrastructure and amenities in tourist areas.
Consequences of the gambling boom for society and the state
A. Increase in gambling-related crime
– Increase in illegal gambling, money laundering and other criminal activities.
– Attraction of criminal elements to casino areas and tourist areas.
– Increase in theft, fraud, and violent crime related to gambling.
B. Loss of revenue due to increased gambling addiction problems
– Treatment and rehabilitation costs for problem gamblers and their families.
– Loss of labor productivity and income due to absenteeism and decreased productivity.
– Increased bankruptcies and debt, resulting in loss of tax revenue.
C. Negative impacts on public health and well-being
– Deterioration of mental health including anxiety, depression and suicidal ideation in problem gamblers.
– Breakdown of family and social ties due to financial and emotional problems associated with gambling.
– Increased risk of developing health problems such as cardiovascular disease, obesity and substance abuse due to the stress and lifestyle associated with gambling.
Being the hub for gambling on the East Coast, New Jersey has been exposed to the multifaceted negative consequences of the gambling boom. From the astonishing expansion of the number of problem gamblers and related social and economic problems to the harmful effects on local businesses and increased crime related to gambling, the consequences of casinos and other gambling establishments have rapidly strewn wide.
In this regard, it is obvious that they should come up with a comprehensive plan to prevent the expansion of gambling in New Jersey. Rigorous regulatory and enforcement controls is a necessity to abolish illegal gaming and money laundering, and comprehensive rehabilitation of problem gamblers shall address wide scale problems caused by addiction to gambling. Further, it is also vital to enlighten the public about risks which are attached to gambling and limiting the growth of the gambling industry to minimize gambling-related harm.
