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There have been many studies focusing
upon gambling economics. However, most of
these concentrate only on
the positive sides of the
gambling equation, and
they tend to overlook a
very basic fact: gambling
revenues must come out
of the pockets of players,
it does not fall from trees.
The formula for
understanding gambling
economics is not a difficult
one. It can be
expressed in but a few
words: it involves where
the money comes from,
and where the money
goes. The words lead us
to a simple input-output
model. The model can be represented by the
image of a bath tub.
Water comes into a bath tub, and water
runs out of a bath tub. If the water comes in at
a higher rate than it leaves the tub, the water
level rises; if the water comes in at a slower
rate than it leaves, the water level is lowered.
An economy attracts money from gambling
activities. An economy discards money
because of gambling activity. Money comes
and money goes. If, as a result of the presence
of a legalized gambling activity, more money
comes into an economy than leaves the economy,
then there is a positive monetary effect
because of the gambling activity.
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