Commentary 2:
The advantages and drawbacks of gambling
The integrated Resort (IR) in Singapore has definitely been a debatable topic over the past few years. The IR targets to hold a casino in fifteen thousand square meters of area. This triggers people to consider the possible effects that gambling will have on Singapore. The casino industry in the US hopes to extend its industry in Asia. Singapore’s government is a jurisdiction that enforces strong rules in this county and ensures law and order. This makes a Singapore an ideal country for the casino industry. However will this industry make a positive impact on this country?
Let us first look at the economical impact of gambling. The casino is aimed to act as a catalyst for Singapore’s economy in the future and to boost its tourism industry. It is to boost Singapore’s reputation as a ‘must-visit’ country. This will of course boost the economy of the country. Furthermore, the 15 per cent tax rate will definitely make way for more developments in the country. Singapore being a thriving, young country, a strong foundation in the economy is necessary for the long term success of this country. The IR will act as a profit-generating centre that brings investors from all over the world. This will also increase Singapore’s business opportunities with other countries. It prevents Singaporeans from gambling in overseas casinos such as Genting Highlands and Las Vegas. This will thus benefit Singapore’s economy. This shows that gambling will bring about a positive impact on Singapore’s economy. The evidence for these benefits will be the casinos in other countries. 460 casinos in Washington DC collected a stunning 32.4 billion dollars in 2006. The taxes paid after these collections definitely benefit the country’s economy. Thus, this proves that there is a positive impact on the economy that is caused by gambling.
Secondly, let us look at the how gambling affects the citizens of a country. Research shows that nearly 2.5 million people in the US are pathological gamblers. This refers to those addicted to gambling despite the harmful consequences that they face in the future. There is a definite appeal to gambling that attracts many people to this risky game. The risk involved in this game attracts many rich men and women who do not have much to gain from the money they may win. However, for those who lose large sums of money in gambling, the game becomes an obsession. Many pathological gamblers neglect their families, friends and even their own health due their obsession. This is one of the significant disadvantages of gambling. This was one of the factors that were deeply considered before the decision to build the IR in Singapore. The possible effect it had on the population in Singapore is hazardous to the nation’s progress.
Most debatable topics always have two sides of arguments. Likewise, gambling has its advantages and its drawbacks. The Singapore government has decided to build the IR with confidence that the advantages will exceed the drawbacks by a large margin. We can only wait to see how true this is.
