Gambling Equates to Love of Risk and Fast Money
Posted on 13. Sep, 2011 by Problem Gambling in Addiction News
The gambling capital of the world, Las Vegas, says its revenue is down by double-digit percentages in recent years. The past year showed more than 37 million visitors to the gambling haven. Even in these tough economic times, Vegas still remains the fifth most popular destination in the world for tourism. Nine of the 10 largest hotels in the world are found in Las Vegas. They have managed a 90 percent average occupancy throughout the year in the 120,000 hotel rooms located there.
Las Vegas is the home to our nation’s attraction to fast money, but it is quickly losing its draw. Businesses are now choosing less flamboyant destinations for their corporate conventions and residential properties have fallen to nearly half their values in the past three years.
According to an article in The Trumpet, the casino and tourism industry used to foster growth of home sales but is now struggling to maintain its former image, as there are now 48 out of 50 states that offer legalized gambling. States now offer everything from casinos, riverboats, lotteries, Indian casinos, video lottery and slot machines to dog and horse racing. There is also the growing sport of Internet gaming that broadcasts gambling nationwide.
With over 20 million Americans being compulsive or addicted gamblers, our population accounts for nearly half of the worldwide expenditure on gambling, which is about $50 billion. According to a website report on gambling, the average pathological male gambler incurs $55,000 to $90,000 of debt in the U.S., compared to $15,000 for women gamblers.
A journalist with the Los Angeles Times reported the shocking discovery that in California, recipients of welfare can use their state-issued debit cards to withdraw cash while on the gaming floor in over half of the California casinos.
