How Gaming Industry Improve Local Region

The betting industry keeps growing rapidly. The development of the gaming industry is not experienced in one country alone, but gaming is also becoming very popular around the globe. This is because smartphones and mobile telephones are now more accessible than ever, and the world wide web is rather reasonably priced.

Gaming industry is regulated and the gaming laws that comprise the debut of a new arrangement that shields children and vulnerable adults. There’s a huge market for gaming in many countries. This has caused the increase of gambling websites like daftar slot online which allows players to put their stakes win if they’re fortunate enough.

Lots of men and women perceive gaming the incorrect way, but it needs to be taken as much as an amusement, watching a film, or playing your favorite sport. The reason a lot of individuals perceive gaming the incorrect way is due to how some people today eliminate control over themselves both emotionally and financially. Betting gets dangerous particularly when an individual believes that betting is essential for them, and they need to be in the casinos daily or gamble online often.

Though gaming has some negative effects, besides, it has some positive effects on both the economy and social existence.

Casinos help boost local retail revenue

The casino gamers substitute casino gaming for some other activities like going out to the movies or dining out. Again, most of the casinos have restaurants, hotel rooms, and stores for casino players. All the products which are bought from these types of centers are taxed under earnings tax legislation. Everyone is fantastic signs that casino gaming boosts regional retail sales.

Tax advantage

Casinos give taxes too and these earnings are utilized to finance the government applications. The local and state authorities encourage casino tax earnings as gains. The earnings are an advantage for those recipients of taxed casino earnings. Taxes from casinos are a consequence of earnings from casino owners to local and state authorities and to recipients.

The chance to win cash

Betting is an opportunity for players to win cash. And it is not simply money, folks may acquire a considerable sum of money for this issue. Everyone likes to have the chance to win cash, and gaming is just one of the things that provide people that opportunity. This attribute has brought many people to begin gambling with the expectation they could get lucky and win a substantial amount of money. It is well worth noting that winning a bet is not so simple, and it may get tough particularly for people who gamble complete time. However, some folks have decided to beat the odds and they have practiced lots and mastered thus muck skills on gaming.

 

The Philippine Online Gambling Industry : Is It the Best that Asia Can Offer?

While Southeast Asian countries continue to ignore Asia’s ranking as the second largest gambling market, gambling remains illegal in their jurisdictions.

Being frontrunners in technological advancements, Southeast Asian countries like Singapore, Malaysia, Thailand and Indonesia can easily hurdle the technical challenges of regulating online gambling. Yet political will seems to be the primary factor that keeps these countries opposed to the legalization of gambling.

Can the Philippines Depict the Best Example of a Sustainable Online Gambling Industry

The Philippines can be cited as the best example of how online gambling helped a country alleviate economic stresses caused by the COVID-19 pandemic. Yet the country still lacks the political will in making the online gambling industry a truly sustainable source of revenue for the Philippine government.

Prior to the pandemic, lawmakers passed tax reforms that more than doubled the tax imposed on offshore online gambling operators — from a previous 2% to the present 5%. Moreover, the reform also modified the tax base, from the previous gambling receipts net of customers’ winnings, to the straightforward gross gambling receipts regardless if portions thereof were actually paid out to winning players.

As a result, there is an ongoing exodus of offshore online gambling operators who have cancelled their accreditations. The cancellations starkly reduced the projected tax revenues that the country expects to collect at the end of year 2020.

Moreover, the Philippine government’s approach in adopting online gambling as an industry is ambivalent. Philippine Offshore Online Gambling Operators or POGOs as they are commonly known in the country, operate only as legal gambling businesses that can deploy their online casino games and sportsbook in neighboring foreign countries.

They are actually the operators of the Judi Online casino and betting sites patronized by Southeast Asian gamblers. However, POGOs are forbidden to give Filipino players access to their remote gaming websites, whether residing within the country or abroad. Mainly because online gambling is likewise illegal in the Philippines.

Moreover, POGO operations if allowed in the country will compete with the high-end, land-based casinos. That would be to the detriment of several major international hotel and resort companies who invested billions; convinced that the Philippines will be the next gambling Mecca for junket tours catering to wealthy Asian gamblers.

While junket tours are generally regarded as legal, Philippine lawmakers have held Congressional hearings because they were not aware of how junket tours work and how they can be prevented from becoming part of money laundering operations. Since revenue generation was the more important issue, the Congressional inquiry about junket tours all too soon quickly died.

The Philippine government continues to keep cordial alliance with the governments of neighboring countries due to economic ties. Yet the Philippines’ online gambling industry still remains vulnerable if Southeast governments persist in adopting measures that will prevent POGOs from accessing their communication networks, be they publicly or privately operated.

At worst, said governments may even consider imposing sanctions that could result in economic loss that is much greater than the economic benefits gained by the Philippine government.

The impact of the gambling industry on the economy

The idea of ​​legalizing gambling has been discussed recently although different gaming facilities are already permitted in some countries. Gambling is very profitable, but in some countries, it remains illegal, so that some people try their luck on the internet such as judi pkv games.

Many beginners who are not particularly well versed in the gambling business believe that the casino always wins because even the biggest jackpot can easily be covered by other players’ money. They believe that all casinos benefit from those who lose in the gaming facilities and that such people are the main source of income for casinos.

Countries where such entertainment is lawful

Las Vegas

There is probably no place as associated with games, casinos, chips, wealth, and lost fortune as Las Vegas, in the state and in the Nevada desert. Most of the world’s casinos are concentrated there. In addition, gambling is the city’s main source of income and creates well-paying jobs. The largest casino is the 7 square mile Stratosphere Las Vegas, which offers games to suit all tastes, including board games. There are also sweepstakes where you can bet on sports.

Las Vegas entertainment industry sales are estimated at $ 15 billion, while global sales are estimated at $ 140 billion per year. This of course includes a large part of the underground business. On average, one in 50 million tourists who visit the city annually spends $ 540 on gambling alone. In total, spending, including casino travel, can run up to $ 39 billion a year.

However, not everything is so optimistic. Casinos were also built in Atlantic City, New Jersey. It was the only one at the time, but it later appeared in Delaware, Pennsylvania, New York, and Maryland. As a result, winnings have plummeted since 2006 as the casinos are too close to each other.

Twin brothers: Monaco and Macau

Monaco and Macau are very similar – they are small areas close to large countries. However, Monaco is an independent principality while Macao is a semi-dependent area with its own wide autonomy, a former Portuguese colony.

Monaco is both a gambling center in Europe and Macau in Asia, paired with Singapore. Macau is the only place in China where you can gamble for money, but as more countries move closer to legalizing gambling, Macau’s economic growth could slow.

The Billion Dollar Online Casino Industry Is On

Online casinos like mega888 are by law, illegal in some parts of the world. It’s clear that providing gambling services online is not allowed, however, it is not clear if participating in these sites is allowed at some point. In Germany, however, this will be tolerated (for economic reasons?)

Are Online Casinos Legal?

The turning point happens almost silently after all these years, at least suspiciously quiet considering the importance of this key date. From this Thursday on, illegal online casino games will be tolerated in Germany for the first time. The supervisory authorities in the federal states will from now on no longer take action against providers of online slot machines, poker rounds and others, so long as they adhere to specific rules. The federal states agreed on this interim solution for the period up to summer 2021 in September .

The minister-presidents had previously agreed on a comprehensive reform of the German gambling laws and found a compromise with which gambling on the Internet should be legalized for the first time. Proponents hope to get a hitherto largely illegal black market under control. Because so far the virtual casino operators could write billions in sales undisturbed. Last Friday, surprisingly, 15 licenses for sports betting providers were awarded in a separate procedure.

The new State Treaty on Gaming was last examined by the EU Commission, then has to be passed by the state parliaments and is to apply from July 2021. Until then, providers of online games of chance should prove in a kind of practical test that they are complying with the new law in advance. In contrast to sports betting, licenses do not yet exist. If these licenses are issued at a later date, they should be given preferential treatment.

For those who want to take part in the somehow legal industry ought to satisfy numerous criterium so that the gaming authorities won’t bother them. The federal states have provided 30 points that are intended to guarantee player protection online. For example, players must be regularly informed of how much money they have won or lost. No player may deposit more than 1000 euros per month across all providers. Anyone who advertises for players with virtual machines must also be connected to a nationwide player blocking file. With the help of a “panic button” players should be able to lock themselves on every game website for 24 hours. Roulette and blackjack are taboo in the future.

The responsible online supervisory authority does not yet exist – so who controls?

In some supervisory authorities, there is great displeasure with the country compromise – because it was determined on a unstable legal grounds. Some officials fear that they may be guilty of fraudulent behavior in office if they do not continue to crack down on online casinos without a license. The State Treaty on Gambling will come into force next summer at the earliest; until then, the offers will actually remain illegal gambling, i.e. relevant under criminal law.

Online Gambling – Its Economic Benefits

One of the largest markets and industries today in the globe is online gambling. In an economy wherein many struggle and effort because of many economic uncertainties, online casinos and online sports betting are doing quite well and continue to grow.

For instance, https://www.sbo360.com, has been up and running for over a decade now with a professional and excellent service structure that has earned them the trust and loyalty of many of its members. And to maintain this trust and loyalty as well as draw in more players, it continues to develop and better its products and services for a more engaging and safe gambling environment.

Although gambling in general don’t always get a good publicity, people, other industries as well as governments cannot change or disregard the fact the online gambling is quickly growing and may not even stop as well. And with this growth, there is no denying that both the local and global economy benefit from it.

Online Gambling – When Does A Country Benefit From It?

Indeed, one of the major and biggest advantages of online gambling and online sports betting is its economic benefits. When a nation offers online gambling platforms that are legalized as well as regulated by the state, it could yield a large amount of revenue through levies and taxes. Moreover, online gambling could also create jobs that are specialized and unique to online gambling, and produce huge revenue or income for the state. These would bring about the local economy a substantial boost.

With the immeasurable transformation and growth of the industry of online gambling has truly had an immense economic impact on people, communities as well as their respective areas or provinces.

Hence, it is imperative to take note that an area or a province could only economically benefit from online gambling, land-based casinos as well as sports betting when the activity is legalized and regulated in that area allowing its residents to support and engage in these gambling channels. When and if players play on illegal, unlicensed and offshore gambling websites, their own local and national government do not benefit or profit as the money of their residents are directed out of the local and national economy.

Revenue From Online Gambling – Putting It To Good Use

When gambling, both online and offline, is legalized in a country, the government create or have specific laws and regulations to support and protect players as well as impose the necessary taxes. In this way, revenue is generated and this revenue could in turn  be utilized to aid the local economies.  The generated revenue from state-regulated online gambling websites could do so much for local communities, including the enhancement of public services wherein taxes are utilized for road improvements, youth programs, healthcare, infrastructure, housing, as well as other programs for the development of the community.

Gambling Law: Differences between Germany, Russia and China

With the increasing popularity of online gambling, the question of the legal situation in different countries often arises. After all, many people want to play a round of slot games, roulette or agen judi slot terpercaya every now and then when they are on the move, for example when they are on a business trip. So how does gambling in Russia or China compare to Germany?

Gambling in Germany

Germany is a comparatively restrictive country when it comes to online gambling in general. So similar rules have been adopted as they also apply to casinos and real casinos. And they have always been relatively strict. It was only with the EU Equal Opportunities Act that the strict approach to online gambling began to falter a little. Because according to this law every citizen of the European Union is to be treated equally. In terms of gambling, this means that Germans themselves, although the laws in Germany are strict, must have access to other providers in the European Union.

Gambling in Russia

In Russia, the gambling situation is even more severe than in Germany. Basically, casinos are banned across Russia. This applies to both on-site casinos and casinos, as well as online casinos. The reason for the rigorous approach lies in the Russian government. This assumes that gambling addiction is a huge problem in Russia. However, there are some exceptions even in the largest country in the world. There are special administrative areas in Russia in which gambling is allowed. However, these are usually hundreds, if not thousands of kilometers away from the big cities.

Gambling in China

China is also relatively strict when it comes to online casinos. Like many other areas of the Internet, gambling is prohibited. This also includes cryptocurrencies, certain social networks, and other aspects of the online world. In 2020, the already strict law was tightened even further. Casinos and slot machines are prohibited, as are apps and games of chance that can be carried out on the Internet. The only exception is the island of Macao. This island is traditionally a gambling paradise. Many Chinese go there on vacation to indulge in their hobby, gambling.

Conclusion

In all of these three countries mentioned, the gambling laws are relatively strict, especially on the Internet. Germany is still the mildest exit here. But compared to many other countries in the European Union, the Federal Republic of Germany is generally relatively strict when it comes to gambling. But Russia and China are going one better. Online gambling is popular in all of these countries. This also applies to classic table games, slot games and jackpots, for example.

What Sports Betting Brings To The Table

SBOBET, http://35.213.128.26/, is an Indonesian online casino gambling site and online soccer sports betting platform. Many individuals register in the gambling site as it provides a variation of trusted and reliable Sbobet agents in Indonesia as well as in Asia, with competitive promotions, bonuses and an excellent customer help and service.

With http://35.213.128.26/, you are certain to be at a certified SBOBET online agent providing the first-rate services, easy and convenient accessibility as well as absolute security when it comes to depositing, cashing out winnings as well as the protection of all player data.

SBOBET is one of the many online casino and sports betting site in the online domain. Since online casino gambling and online sports betting are quickly gaining popularity and becoming legal in many places across the world, many more gambling and sports betting sites are continuously being developed and where new sites and platforms are introduced to meet the demands of players and bettors.  

Positives of Sports Betting

Sports-betting in particular is flourishing in places that allow such activity. And when the sports-betting market flourishes, so does the economy. This is why many nations legalize sports betting as they recognize the possibilities and opportunities it could provide especially for the economy. Here are some positives to sports betting to have a better picture of why many engage in it:

  • It Is An Industry that is Continuously Developing. Sports betting has been in existence since history and have become a pillar of various sporting events across the globe. The industry has then been continuously developing where it offers the sport, the industry and the bettors a win-win situation. There is a possibility of earning hefty profits and could ameliorate urgent financial necessities.
  • It Could Help in the Economy. Many places around the world have legalized or a reworking on legalizing sports betting for tax revenue purposes. As there is an extensive range and availability of sports and sports betting, this could generate huge taxes not only for the state but for the entire nation as well. Since governments obtain funding from taxes, this could help in financing on-going as well as future projects that would make the state and the nation more progressive.
  • It Could Open Up Job Opportunities. With legalized sports betting, this could open up opportunities for people who would want to earn money. Sports betting offers such opportunities. This isn’t only a positive thing for the bettor, but for the sports betting industry and the economy as well.
  • Corruption In Sports Is Controlled. If sports betting isn’t legal, the possibility of oddsmakers to entice the public to wager in ever games and sports available is high since there are no laws or regulations that could govern and regulate the entire sports betting guidelines. Furthermore, they could always put the odds in their favor which would only benefit the oddsmakers and not the bettors.

Chinese Gambling Activities Expanded To Southeast Asian Countries

Gambling is against the law in China other than in Macau. As a result, a sea gambling industry centered on China has emerged in Southeast Asian countries, like judi online in Indonesia, Philippines, including Cambodia. The driving factor for the development of online gaming in the Cambodian port, the city of Sihanoukville is the attractive economic return.

Regardless of the economic rewards brought by gambling, the arrival of Chinese citizens into Cambodia has resulted in an upsurge in the number of criminal offenses which include extortion, kidnapping, and even murder. Casinos also exposed the cessation of money laundering and child labor. A lot of massage rooms have been established to benefit gamblers. The expansion of Chinese people associated with gambling-related issues has negatively affected national security and public order (including social order).

The Philippines is an alternative to Cambodia and another hot spot in the development of online games in China. In April 2019, an estimated 138,000 Chinese citizens obtained work permits for Chinese gaming establishments called Philippine Offshore Game Operators (POGO) locally. Due to the development of the gambling industry, the number of reported crimes related to gambling has increased, including the kidnapping of Chinese citizens as perpetrators.

From a socio-economic point of view, conditional actions should be maintained instead of completely banning China’s overseas gambling activities. On the one hand, the governments of Cambodia and the Philippines should impose strict regulations on the operation of sea gambling activities, for example, strengthen recruitment reviews to ensure that underage children are not employed by game operators, and prohibit the operation of massage parlors.

On the other hand, these governments should hire more law enforcement personnel to supervise the daily activities inside and outside the casino to prevent money laundering and other gambling-related crimes. An independent supervisory agency should be established to monitor the actions of law enforcement officials and arrest those involved in corrupt activities.

In addition, immigration screening should be strengthened to ensure that all Chinese citizens entering these Southeast Asian countries have valid work permits. All Chinese citizens who participate in game-related activities with visitor visas should be arrested and deported. In addition, immigration authorities should limit the issuance of work visas to Chinese citizens to prevent China’s overseas gambling industry from developing too much.

By restricting the scope and activities of the maritime gambling industry, Southeast Asian countries can continue to reap huge profits from gambling-related fees and taxes. These countries can also provide local residents with a range of employment opportunities to help minimize their unemployment rate.

In general, for the socio-economic development of Southeast Asian countries, China’s maritime gambling activities should be restricted, not absolutely prohibited.

How important is gambling to the Economy?

Gambling and the Economy are two terms that few people put in context. There are different reasons for this.

What is meant by gambling?

Games of chance can be defined as follows: money is used and those who are successful win money. In this country, this primarily means sports betting, horse betting, poker, games in an online casino like gclub. Lotto also belongs in this category. In connection with games of chance, addiction is often warned, although there is no doubt that not everyone is at risk. In the Economy, observations are likely to have a different view on this topic than, for example, in politics and the general public. If you look at it objectively, you don’t believe who is involved in everything in this industry. And we’re not talking about any bookmakers or casinos. The reason for the interest is simply money.

The assumed sales

There are no 100% reliable figures on how much sales are made with sports betting,  horse betting, and online casinos. No official information is known about how many players and if in fact there are any. However, if you research the sums that, for example, the best-known betting providers spend on sponsoring, several billion euros can be assumed. In this context, it is important to know that almost all providers are internationally oriented. There is a lot of advertising for sports betting. An online casino doesn’t usually have the same opportunity to advertise. Advertising leads to increased sales. But even the casinos on the Internet can sometimes afford TV advertising. Even if figures are available for certain operators because they are listed on the stock exchange, it is difficult to decipher how high the turnover actually is, especially since it would have to be broken down by time period.

It’s booming: revenue from games of chance

Gambling can be described as a booming economy. Hardly any branch has so much upwind. If the numbers are correct that a total of 100 billion euros will be turned over in the year (this has not been proven), this shows great economic strength. One problem, however, is that most companies that recruit customers do not work from locally. And that, in turn, has reasons for which the state must be responsible. The issue here is that prejudice against gambling exists. The laws are out of date. Experts claim that the money that flows to bookmakers abroad through various channels is lacking in the Economy. However, nobody will be able to prevent that people like to do sports betting or play the games in an online casino. The channels would just have to be redirected. The money would benefit the Economy. More people would make money from gambling than employees, and the state would benefit from the taxes. The only tax currently being collected is 5% for every use made on the Internet. It is the law of betting tax.

Sports betting, in particular, is of great importance in the country

There are several providers of sports betting. Advertising is not just a magazine to discover. They exist before and after television programs that are extremely popular. There is also gang advertising on television. Every football club has a betting provider as a partner. Other sports and sometimes special clubs also have such partners. Taxes are paid on such contracts. This in turn means that the state also benefits. If the providers can afford these payments, it says a lot about sales. And one wonders objectively why politicians are so vehemently opposed to gambling.

The importance of the Economy

Sales of sports betting and games in online casinos add up to billions of dollars in revenue for operators each year. The Economy benefits remarkably little because of prejudice and outdated laws. The money will always flow, the task for politics is to direct the flow of money into the right channels.

 

Online Casino And Gambling Market Growth – Good For The Economy

Playing at an online casino has been an activity that’s been around for quite a while. Now, its popularity has immensely grown in recent years particularly when a lot of countries have already legalized the operation of online casino. Online gambling has seen a sharp rise in the quantity of individuals joining major online casino or bookmakers not just for entertainment but also, with any luck, to win some money.

Why the Rapid Growth of Online Casino?

The pandemic that caused people to self-isolate in their own homes urged many to register at an online casino or an online gambling site for them to continue enjoying their favorite casino game, such as poker, blackjack, the slots, and more. While this did increased the market growth, there are other major factors that fueled the growth even before the pandemic. 

One of the major reasons is that a web-based casino has made it much more convenient, easier as well as accessible for players to enjoy such games just about anywhere and anytime they want using their laptop, tablet, smartphone or their PC.

Apart from that, getting under way with online gambling at a safe and legal online casino platform only takes a few minutes. Moreover, several online casinos a very a realistic and immersive gambling experience which makes it all the more exciting and interesting for players.

The Online Gambling Market – Does it Help the Economy?

53.7 billion US dollars, this is the value of the online gambling market in 2019 at a global scale. The figure is expected to increase even more in 2020 to 2027 at 11.5% compound annual growth rate with the ever-increasing obtainability and accessibility of mobile apps and penetration of the internet around the globe to further feed and add to this expected online gambling market growth.

According to a report Mordor Intelligence, the online gambling market in the United States is calculated to reach a 15.41% CAGR thru the 2020 to 2025 forecast period. Currently, New Jersey has the biggest market for online gambling that is regulated. More than a dozen licensed and legal online casino websites as well as online poker rooms contend for an overall market which is said to value at over 225 million US dollars annually. With legalized sports betting, there numerous sportsbooks as well as mobile apps for online sports betting that are also live and accessible in the market.

The Division of Gaming Enforcement or DGE release a data stipulating that in June of last year, the revenues coming from the top three leading online casinos in New Jersey earned millions: (1) Golden Nugget/Betfair – 13.6 million US dollars, (2) Resorts AC – 6.39 million US dollars, and (3) Borgata/Party – 5.66 million US dollars.

Of course, if these online casinos are earning these much, then the state New Jersey also benefit from this as they receive tax revenue from them which fuels their local economy. This answers the question, safe and legal online gambling could help the economy.

On Legal And Illegal Online Gambling

The 먹튀 검증 of any website is quite vital. The process is carried out to make certain that the website as well as the platform wherein you are attempting to invest money or reach your goal are safe and secure.

For instance, to verify the safety and security of your Toto site or online casino, 먹튀 검증 is essential. This is also to make certain that you have full control of your account. Sites like to-chelin.com could help with the 먹튀 검증 process of your Toto site, thoroughly but with ease. Moreover, since they specialize in verifying sites, they know which sites are safe and which are not. Hence, they also recommend safe casino sites to transact in.

Legal and Illegal Online Gaming – What It Means for Punters and the Local Economy

In places where gambling is legal or permitted, the community actually flourishes. Because of the global standards of betting or gambling, online gambling sites have more guidelines and regulations. Casinos operating online have to undergo thorough moderations, verifications as well as qualify and pass very strict regulations so as to be recognized and accepted. This ensures that the gameplays are kept in random, fair as well as for it to not be manipulated. In areas where gambling is prohibited or illegal, disreputable gambling websites prosper. Such online gambling sites are risky for users, as you could wind up being scammed or ripped off of a hefty amount of money that aren’t taxed.

When users register and log into an online gambling website, they believe to be merely playing standardized and fair gameplays similar to what various International casinos offer. However, since these websites aren’t verified and operating illegally, they get swindled. Frequently, users are duped by obtaining their credit card details and sell them illegally.

With legal gambling, people who bet or wager online wouldn’t have to worry about their safety, security as well as their privacy since legal gambling websites have undergone 먹튀 검증 as well as passed the standards required by the government. In areas where online gambling isn’t legal, bettors will need to bank on legal online casinos based outside their area or on legal international casinos. This would mean that their money and potential tax revenues are led outside the local economy. Hence, it is the outside economy that reaps the benefits.

In Conclusion

It is very evident that gambling is very much an enjoyable activity. With legal gambling, the economy, the society as well as the player could reap its benefits. But in places where gambling is unlawful, individuals are more prone to transacting with illegal online casinos. Hence, making legal online gambling won’t only protect its people but also help the local economy.

The Temptation Of Gambling Hit Middle Aged Men And Women In Their 40’s

“People who have fallen into a sense of helplessness called corona blue become immersed in alcohol or gambling, and the second circle of helplessness is felt by addiction, creating a vicious circle.”

It turns out that Corona19, which changed the daily life of Korean society, intensified the problem of gambling. The number of gambling counseling, including illegal sports betting, stock addiction, and private FX margin trading, increased compared to the previous year. This is even more remarkable considering that the sports market around the world has stopped with Corona 19, making it difficult to wager illegal sports.

According to the Korea Gambling Problem Management Center on the 25th, there were 2,508 people receiving gambling counseling from the center’s counseling program, ‘Helpline’, from March to May this year. This is an increase of 16% compared to 2,162 people in the same period last year.

Director Lee Hong-sik said, “Social distance has reduced the way to relieve stress while exercising or face-to-face activities.” It had also been thought that gambling would be reduced, but rather targeted isolated people in the house through online gambling (judi online) which most of the time is illegal and prohibited by law.” By age group, the increase was at least 12.5%, excluding teenagers and older people in their 60s and 70s. In particular, the number of patients receiving counseling is in their 40s, increased by 39.2% from 273 in March to May last year to 380 in the same period this year.

“As Corona 19 has increased the time spent at home and the frequency of smartphone use has increased, an environment prone to exposure to gambling advertisements has been created,” said Seoul Information Center Director Seoul Information Center. “This change also helped to deepen the gambling problem.”

One of the peculiarities is the increase in counseling related to finance such as stock addiction and private FX margin trading during the Corona period. In particular, after the World Health Organization (WHO) declared a pandemic (a pandemic) in March, the number of stock addiction counseling surged.

According to data from the Gambling Problem Management Center, about 214 people filed with the center for counseling regarding stock-related problems this March-May. It was close to three times the same period last year.

Investing In Legal And Proven FX Margin Trading

Many people have lost money through a private FX margin transaction that is sometimes fraudulent.

According to the Financial Supervisory Service, a total of 158 cases of private FX margin transaction damage counseling were received from January to May this year.

“If game-type gambling was popular in the past, gambling that gives immediate rewards in a simple way like sipping is popular recently,” said Lee. “The recent problem of FX margin trading is a kind of sibling sipping so that young people can easily fall into it. I’m promoting it through SNS.”

FX margin trading conducted by private companies is different from normal FX margin trading, a high-risk, high-yield financial investment product aimed at foreign exchange gains. If an investor bets on whether the exchange rate of a specific currency will go up or down, it gives a big profit, and if it is wrong, it loses the investment. Private FX margin trading companies continue to operate illegally. In order to conduct normal FX margin trading, you must obtain a financial investment business license from the Financial Services Commission, but private companies operate without permission.

On the other hand, while gambling is illegal in Korea and other parts of the world because of the risks of loses and addiction, there is no doubt that gambling is still one of the biggest industries that contribute significantly to our economy.

Is POGO Good for The Philippine Economy?

The Philippine Offshore Gaming Operators a.k.a. POGO represents a contentious sector of the Philippines’ business process outsourcing (BPO) industry. Since 2016, when incumbent Phillippine President Rodrigo Duterte assumed office, POGO companies flourished and had fueled the growth of online gambling in the Asia Pacific Region.

The years thereafter had marked the phenomenal increase in participation among Asian gamblers in the world of online sports betting and casino gaming. It was noted that in 2017, global industry statistics reported that about 40 percent of the total bets wagered across all global betting sites, came from the Asian market.

Inasmuch as the foundations of the POGO outsourcing business are mainly gambling-related, the Philippine Amusement and Gaming Corp. (PAGCOR) was tasked to oversee the licensing and supervision of POGO companies. The purpose of this is to ensure that the gaming technologies, products, and gambling services offered by the POGO sector, met the global standards of fair, equitable, and responsible gambling.

Moreover, PAGCOR makes sure that the high-end land-based casino establishments of foreign investors will not suffer from stiff competition potentially posed by online gambling firms. An important licensing condition for POGO firms is to confine their outsourced gambling operations to countries outside of the Philippines.

The condition means POGO firms are barred from granting access to Filipino citizens whether residing locally or abroad, as well as to foreigners visiting the Philippines. Still, Philippine-based players are allowed to engage in online gambling, for as long as their betting or casino gaming sites are not operated by PAGCOR-licensed POGO firms.

The Magnitude of POGO Contributions in the Philippine Economy

At the height of the COVID-19 pandemic, when President Duterte ordered a lockdown on non-essential businesses, PAGCOR did its part by suspending not only land-based casino operations but also POGO operations. However, a short while later, POGO operators made an appeal to PAGCOR Chief Andrea Domingo, to allow them to continue their foreign online gambling operations, even partially.

Margarita Gutierrez, spokesperson of the Accredited Service Providers of PAGCOR (ASPAP) had presented compelling arguments. Most of which were based on the revenues that POGO firms generate in helping the government raise funds needed, in addressing economic challenges faced by Philippine citizens during the COVID-19 lockdown.

Ms. Gutierrez argued that POGO companies are contributing as much as ₱94.7 billion per year to the country’s coffers. Aside from local taxes, which in the year 2018 and 2019, amounted to P22.40 billion, POGO firms make the following additional economic contributions:

  • ₱34 billion to PAGCOR for BPO licensing and other fees.
  • ₱9 billion to the Department of Labor and Employment for worker employment permits and other fees;
  • P16.4 billion in wages paid to local staff plus the annual rental fees for offices and worker housing provisions, as well as the cost of living expenses incurred by foreign POGO workers.

Naturally, the arguments presented by Ms. Gutierrez on behalf of POGO companies had easily convinced the Philippine government to allow partial operations during the lockdown period. PAGCOR, once again dutifully carried out its role as regulator, by enumerating restrictions and prerequisites that must be in place as conditions to granting of its approval.

Aside from implementing measures to ensure the safety of workers, and from preventing the spread of the COVID 19 disease, PAGCOR required all POGO firms to update their licensing fees and to settle outstanding tax obligations.

Compliances with monetary requirements should be supported by a certification from the Bureau of Internal Revenue.

Thanks to POGO, gamblers in countries like Brunei, Indonesia, Malaysia, Thailand, and Singapore were furnished with online casino games during their trying lockdown period. Among the most accessed are those furnished by the 918Kiss mobile gambling platform, which features more than 30 exciting casino games, with the mega88 brand seeing the most number of application downloads.

Bandar Online – How Lottery Revenue Is Spent?

Each time the Powerball jackpot increases, ticket sales increase accordingly. Every day, a lot of money comes out of regular citizens to try their luck in the lotteries. As outlined by data from the North American State and Territory Lottery Association, People in the United States spent more than $73 billion on lotto tickets in the year 2015 alone.

With this much money going into the lotteries, regardless of the region like the Bandar Online Lotteries in Malaysia or the Powerball in many States in the United States, the question arises as to how the revenue from lotteries is spent? Is it going to private companies, government funds? Who truly benefits from lottery money?

How Revenue From The Lottery Is Distributed?

Generally, lottery revenue is divided into three categories: payment to winners and commissions from ticket sales companies, air ticket fees, and distribution to ticket sales states.

Most of the funds raised in the lottery (usually about 50% – 60%) are allocated to the winners, including sizeable jackpots and smaller prizes for corresponding to lesser lottery figures. Retailers likewise get ticket sales commissions and cuts from sales of jackpot lottery winnings, which is still 5% of lottery revenue.

Approximately 10% of the lotto revenue is used to pay for the management and general expenses of lottery operations and management. Advertising, employee wages, legal expenses, receipt printing, and other needs are all covered in this category.

All the other lottery income will flow to the participating states. For example, in Powerball lotteries, funds are allocated based on ticket sales-states that sold more tickets to get a higher percentage of income. The proceeds from the national lottery are used exclusively for the host country.

In the year 2015, the United States Census Committee approximated that state-owned lotteries placed more than $21 million in state coffers2, and did not even consider income from huge multi-state lotteries such as Mega Millions and Powerball.

How do the participating States use the money?

What Do The States Do With The Revenue Coming From The Lottery?

Every State participating in the lottery can choose how to implement the funds raised via the lottery fund and other legal betting systems such as sports betting.

The majority of states spend small amounts of money from lottery tickets to manage issues of gambling addiction. Some have likewise invested a certain proportion of lottery funds in the general fund, which can be useful to solve budget shortages in crucial to public use such as roads, police, and social works.

The remaining is generally invested in public functions, in most cases the educational structure. Fourteen states require that all lottery earnings be invested in education, possibly through community school financing or in school scholarship grants or programs.

Online Sports Gambling and the State

The PASPA Act of 1992 implemented the approval of sports wagering. The escalation of the legalization issue is up to the federal stage. Subsequently, it opened the discussion of such legalization at the state level.

Drafting laws about sports betting legalization and licensing already began in many states. While there are states that totally banned its activity.

However, few are still in doubt of its legalization issue. This is because they are in doubt if the gambling industry provides economic benefit.

In the Philippines, the PAGCOR or the Philippine Amusement and Gaming Corporation authorized the LTO of some online sport betting platforms.

The Philippines approved the operation of the online betting site like the SBOBET. The Asian betting menu view covers the daftar sbobet88 for the country. The approval of such activity may be beneficial for the country’s economic state.

However, in the US, online sports betting platforms stole essential income of the state. This conclusion came up prior to the ruling of the tribunal in May 2018. The estimated lost amount with this is said to be around 150 billion dollars.

The truth of some states’ legalization lies behind the analysis of the odds on their side. The primary factor that gives a great impact on these odds is its effect on the economy.

The Economic Influence of Sports Wagering

Below are some possible influence of wagering on online sports in the economy.

Economic Influence #1: Taxes

The American Gaming Association revealed that legal sports betting will eventually give $22.4 billion. This amount will be added to the gross domestic products of the US.

Aside from this, the local governments will bring home at least 7% to 15% taxes. This is equivalent to around 3.4 billion dollars yearly.

UK’s betting profit in a year is only around 5 billion dollars. This is to take note that sports betting is approved in the UK. Considering these figures, it shows that the US will lead the annual revenue of the UK in the initial 5 years.

Economic Influence #2: Job Creation

Based on a similar study, sports betting will give about more than 200,000 employment. This employment covers the direct, indirect, and the induced employment category.

Economic Influence #3: Marketing

Due to increased revenue in advertising, the projected budget per year of the media industry is expected to be about $615 million. The $500 million profit in a year comes from the product charges. All in all, the total marketing revenue will be at least $3 billion per year.