Altcoins Talks - Cryptocurrency Forum
Marketplace => Gambling & Crypto Casinos => Gambling discussion => Topic started by: Emmanuel1 on March 24, 2024, 11:36:58 PM
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Actually,online gambling pose a negative effect on a country's economy, no payment of tax revenue to government, increase in family disintegration and addiction which are all societal issues. Based on my own opinion online gambling has not add any good value to the country's economy precisely my own country Nigeria. Let me know your own opinion.
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Yes mate, I agree with you on this. Online gambling has no positive influence on building a countries economy, speaking of Nigeria, presently their are so many different online platforms that are existing and working perfectly, but those platforms are owned by individuals and it has not added to the econom,, because they don't pay taxes.
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Actually,online gambling pose a negative effect on a country's economy, no payment of tax revenue to government, increase in family disintegration and addiction which are all societal issues. Based on my own opinion online gambling has not add any good value to the country's economy precisely my own country Nigeria. Let me know your own opinion.
Well, it depends on the country. On our side, we are still a developing country and i remember that during the pandemic, our president has encourage our gambling regulating agency to lure more investors on this online gambling as it create revenue through tax revenue.
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It depends on the country. In most countries gambling industries pay tax to the government. Through taxes government generate income to develop other areas in the country. If you ask me, this is cyclic in nature. The citizens sustains the bookies through their involvement in gambling activities, then the bookies pay taxes to the government from the money profited from the citizens, then government receives the money and then come up with a development plan or establish infrastructure that can sustain citizens.
Viewing this in another angle, when some gamblers have big win, they set up good investment that is taxable and also employ people. This way they are contributing to the economy of that country. In a way, gambling whether online or offline can influence the economy of a country.
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That only applies to illegal online casinos, especially in a country that has a strict regulation when it comes to online gambling. Like in our country, where it is required for online casinos to register so they can continue their operation. The government can collect taxes just like in physical casinos. If not, the law will make its way to find the owners of those illegal online casinos. However, the regulation in our country is not that strict compared to some other countries which is why there are still some illegal online casinos that can do their illegal operations. There are times when they are getting caught and immediately being taken down.