How can online gambling influence economy of a country?

[Emmanuel1]

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.

[Mr. Allcrypto]

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.

[bisdak40]

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.

[Penlex_Writer]

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.

[DabsPoorVersion]

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.

[Agbe]

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.

If 40 percent population of a country are addicted gamblers then there's a possibility of it affecting the economy and my reason for saying this is the terrible effects gambling has on people, if the government employs people and at the end of the day these workers which are gamblers keep throwing their resources away to gambling they just waste the efforts of the government without been able to give anything meaningful in return in order words they become more of liabilities than assets

[Findingnemo]

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.

Not every country has similar tax structure regarding gambling, if the platform is not from your country then it's your responsibility to pay the taxes on your winnings if there's a gambling tax in your country and if you're not paying then you are at the fault. Government may track down when the amount involved is huge. The social causes you're talking can be managed with responsible gambling.

[robelneo]

That's on your own country but its way different from my own country, Our country benefited from gambling because our government is the one running the casinos and lottery operation , so they get all the profits, and the profits is beingused to fund a lot of government infrastructure and health sector, This is one instances where gambling is of big help to one country.

[JoyMarsha]

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.

I don't think there's online gambling that has physical offices that don't pay tax to the government of the state they operate in.

It's a must for any business that makes millions to pay their tax to the government of their state. That's to say, it is very hard for any online gambling escape not to pay taxes and expect to operate freely without the closure of its office by the government because it is through tax being paid that revenues are generated by the government. However, my country takes record of every existing online gambling in the country, to have them register and pay their necessary tax

[Agbe]

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.

I don't think so because because before a gamble platform will be approved to operate in a country they must have passed through different regulatory processs so weather online or not there's something that is coming to the country as tax if not some of these online betting platforms would have been closed down just like binance exchange platforms that was band by the government duo to not payment of tax so I think there's money coming into government from these online platforms

[Mate2237]

Op I strongly disagree with you. Online gambling has a very good positive impact in a Country economy. Online gambling casinos. I am from Nigeria and casinos in the country paying tax constantly. And apart from paying tax. The money that is circulating in the gambling space is also increasing the economic impact in the country.

Government can't employ and pay all the youths so most of them are using this means to earn so there is money flowing in the gambling sector in the country as well. And I don't think you are real gambler because ko gambler in Nigeria will not say what you have said. People are making enough money from gambling and the money they are winning is spend in the country so the country economy is growing from it too.

[electronicash]

Op I strongly disagree with you. Online gambling has a very good positive impact in a Country economy. Online gambling casinos. I am from Nigeria and casinos in the country paying tax constantly. And apart from paying tax. The money that is circulating in the gambling space is also increasing the economic impact in the country.

Government can't employ and pay all the youths so most of them are using this means to earn so there is money flowing in the gambling sector in the country as well. And I don't think you are real gambler because ko gambler in Nigeria will not say what you have said. People are making enough money from gambling and the money they are winning is spend in the country so the country economy is growing from it too.

both of you are from Nigeria. you don't have same view on it though.  but what he is saying is the online casinos are not paying taxes to the government which means the government is not getting revenues from them.

from what i have read sportybet is well known in the country. i have no idea they are operating illegally or not but if they are illegal i think government can impose their laws to them. as for offline casinos i suppose they are to register before operating.

[Mate2237]

both of you are from Nigeria. you don't have same view on it though.  but what he is saying is the online casinos are not paying taxes to the government which means the government is not getting revenues from them.

That was why I disagree with him. sportybet is paying tax before operating in the country. Sportybet is not a decentralized casino and any casino that ask for KYC then it is not government regulatory free but it is regulated by the government and that is why the KYC documentation is needed. As a gambler in the gambler in the country casinos. I strongly believe, all casinos pay tax. Because many gamblers who have won games and the casino refuse to pay them were dragged to court. So if those casinos were not registered or license and paying taxes we would have heard the ban of casinos in the country.

[Nheer]

both of you are from Nigeria. you don't have same view on it though.  but what he is saying is the online casinos are not paying taxes to the government which means the government is not getting revenues from them.

That was why I disagree with him. sportybet is paying tax before operating in the country. Sportybet is not a decentralized casino and any casino that ask for KYC then it is not government regulatory free but it is regulated by the government and that is why the KYC documentation is needed. As a gambler in the gambler in the country casinos. I strongly believe, all casinos pay tax. Because many gamblers who have won games and the casino refuse to pay them were dragged to court. So if those casinos were not registered or license and paying taxes we would have heard the ban of casinos in the country.

Exactly most casino pay tax cause the government needs to benefit also from the casino. They put down paperwork and documentation in case of some issues or troubles with the government system or gamblers also. They are really taken to court cause government can’t just allow them to have a better system online and not paying tax what are their benefits to the society if they don’t pay tax. Casino usually do have agreements between the government and court for some reason if not they will get ban and not get recognized by the society.

[0t3p0t]

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.

That can only lead to chaos and create more crimes than having a positive effect in the economy of a specific country so therefore I don't think online gambling even though few of them pays taxes because of the fact that  it can only result in creating more gambling addicts. Entertainment is just a front for this but sooner or later most gamblers will become irresponsible and make gap with tgeir loved ones.