Walk Away From Casino Risk With A New Mentality

Casinos have been a major industry in the United States for the last two decades. Gaming at casinos was only legalized in the United State until the 1980s. Since then, nearly 30 states have legalized gambling in casinos.

The result of increased gambling at casinos is a rise in those who are conditioned to believe they are being afflicted by the "gambling curse." Gambling can lead to alcohol and drug abuse family break-ups, as well as an overall decline in educational levels. Gambling can cause an excessive amount of spending and living above one's means. Both of these are circumstances that can have negative social consequences. Social costs don't just directly affect those who are dependent on alcohol or drugs as well as the families of those who are not educated. The damage that gambling can cause to the entire society is measured in terms of the increased tax base required to fund the social services needed to provide for the poor and the mentally handicapped.

How does all of this affect you? On one hand, you can argue that by maintaining Las Vegas and Atlantic City (both of which have extremely high crime rates , and consequently huge healthcare costs) in operation, we are just trying to minimize some of the negative effects of fiscal decline and crime. While it is undisputed that casinos add value to communities (and some experts claim that they perform fairly economically), there is also an limit to the value added casino can achieve. In this instance casinos may not be a significant benefit.

However, it seems that closing casinos will decrease the economic potential in these regions. Even if they were not shut down, this would be valid. The casino's revenue creates revenue that goes into the local economy. These income flows decrease or disappear when the casino closes.

If we decide to shut down gambling facilities, are doing something that can have long-term beneficial impacts on society? And if we are not doing something, why do we allow this to take place? You could ask yourself the question: Have we gotten so enthralled in the mindset of a casino that we are missing the long-term benefits that can be gained from this type of entertainment and the revenue stream that is based on events? If we don't let this to take place then what are the main reasons?

In other words should we let casino players and owners to get an exemption simply because they have more than us? Are we just trying to make a living? Are we just creating jobs to the workforce which is desperately required in our country? Is the anticipated positive result from gambling ever likely to come about? If we don't solve this issue, what will be the true cost?

I think there are several solutions to these questions. First, I don't see any casino owner or executive in the present who can clearly see the future of their business once they are gone. Even the most experienced executives will not be able to predict what their company will appear like five years from now. Many traders have no experience whatsoever, or at best they have no idea trading. They rarely, if at all, are involved in the financial markets in any way. The majority of what they're doing is learning how to trade based on the lessons they have learned from less-experienced traders who work for them all day long, as it functions for them.

Most of us walk away from betting with only a tiny amount of money in our pockets, and sometimes not even making a return. That is the unfortunate result of gambling profits based on emotional decisions not weighing the outcomes of the actions prior to when they occur. This means that we end up losing our self-control and that is the primary reason many people who make a mess of their money on the floor will be broke before they complete their gambling career. What is the reason, that they have to learn better money management techniques prior to going into the casino? You can learn how to stop compulsive gambling regardless of how much you gamble.