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8 - The Present and The Future
Published online by Cambridge University Press: 17 July 2009
Summary
Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.
John Adams (1770)CHAPTER SUMMARY. Applying estimates of the prevalence of problem and pathological gamblers to the cost estimates of Chapter 7 produces social cost totals. A citizen or local government official also might be interested in knowing the additional social cost of introducing casinos. In this chapter, we report three numbers: first, the implied social cost of problem and pathological gambling on the national level; second, the cost–benefit ratio for the casino industry based on per-adult numbers adjusted to a common base; and third, an estimate of the long-term social costs from introduction of casinos into an economy or region that did not have them previously. On a national basis, the social costs of problem and pathological gambling are between $32.4 billion and $53.8 billion. On a per-adult basis, these translate to $165 to $274 per year, or $219 on average. Comparing the costs of Chapter 7 to the benefits of Chapter 6, adjusted to a common base and including regulatory costs, implies that costs outweigh benefits by a factor between 3.9:1 and 6.3:1. The long-term cost-to-benefit ratio from introducing casinos to a region that did not have them previously is greater than 3:1.
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- Gambling in AmericaCosts and Benefits, pp. 175 - 188Publisher: Cambridge University PressPrint publication year: 2004