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01-18-2016, 09:04 PM
While many think about the benefits of gambling, the harm imposed on the society due to gambling seems to be a lesser part of the discussion. Social costs due to problem gambling arise from a variety of factors such as loss of work, bad debts, civil court costs and criminal justice costs. Beside these quantifiable costs to the society, other negative effects such as failed relationships, suicide, etc. are harder to quantify but an important part of the problems associated with gambling.
According to research, the cost burden on the society due to a problem gambler ranges from anywhere between $15,000 to $100,000 per year.
We assume for the purposes of estimating the negative cost to the society due to gambling that the negative cost per problem gamber is $100,000 per year.
With the Powerball jackpot hitting an all time high north of $1 billion, interest in gambling among the public has skyrocketed. Given the heightened public interest, let us assume that the jackpot draws 100 new recruits of problem gamblers per state. Since Powerball is played in 44 states this translates to 4400 new problem gamblers in the country. Keeping with this estimate, the total cost to the society per year would be a whopping $400 million per year. Multiply this by the number of years an individual remains addicted to gambling and one can see that the detrimental cost to the society could easily run into billions of dollars. Thus, it is not difficult to see that the economic benefit associated with gambling is much lesser than the harm associated with it.
In 1935, the Supreme Court of the United States honored Prophet Muhammad as one of the greatest lawgivers of the world. Looking at the counsel regarding gambling, 1400 years ago, the Holy Quran in response to alcohol and games of chance (gambling) stated "Say: In both there is great sin and harm and also some advantages for men; but their sin and harm are greater than their advantage." [Holy Qur'an, Chapter 2, verse 220].
As the Bible states wise is the one "who listens to counsel." [Proverbs, 12:15]. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. (http://start.westnet.ca/newstempch.php?article=terms.html/) It may be used for personal consumption, but may not be distributed on a website.
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According to research, the cost burden on the society due to a problem gambler ranges from anywhere between $15,000 to $100,000 per year.
We assume for the purposes of estimating the negative cost to the society due to gambling that the negative cost per problem gamber is $100,000 per year.
With the Powerball jackpot hitting an all time high north of $1 billion, interest in gambling among the public has skyrocketed. Given the heightened public interest, let us assume that the jackpot draws 100 new recruits of problem gamblers per state. Since Powerball is played in 44 states this translates to 4400 new problem gamblers in the country. Keeping with this estimate, the total cost to the society per year would be a whopping $400 million per year. Multiply this by the number of years an individual remains addicted to gambling and one can see that the detrimental cost to the society could easily run into billions of dollars. Thus, it is not difficult to see that the economic benefit associated with gambling is much lesser than the harm associated with it.
In 1935, the Supreme Court of the United States honored Prophet Muhammad as one of the greatest lawgivers of the world. Looking at the counsel regarding gambling, 1400 years ago, the Holy Quran in response to alcohol and games of chance (gambling) stated "Say: In both there is great sin and harm and also some advantages for men; but their sin and harm are greater than their advantage." [Holy Qur'an, Chapter 2, verse 220].
As the Bible states wise is the one "who listens to counsel." [Proverbs, 12:15]. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. (http://start.westnet.ca/newstempch.php?article=terms.html/) It may be used for personal consumption, but may not be distributed on a website.
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