Gambling Industry and the Economy

When gambling news gets talked about, some not-so-nice words get associated with it. And while gambling is seen as a flashy, glamorous, even sinful experience, it is more than that. Like any business, the gambling industry does contribute to local economies worldwide. How exactly does gambling contribute to society when it’s about, well, gambling?

First off, to get into gambling, like running a casino, or a sportsbook, you need to register your business. This means licensing fees, taxes, and a whole slew of permits to build and operate. The revenues from this is used by the government to help with community building. Second, you need the manpower and technology to operate your business. This means hiring local firms, and hiring employees, thus contributing to the labor force of the area. Getting the best Pay Per Head Sportsbook running requires a lot of technology and resources, for instance. This means an infusion of money that will move around the local economy.

The Gambling Industry in New York

One such example is the state of New York in the US, where gambling is estimated to have the highest growth rate for any job sector in the state. This report released by Yahoo bases their information from the Projects Managing Partnership, and the Bureau of Labor Statistics. The report from the former shows projections on gaming-related labor job positions, and great growth in this sector. In their estimate, by 2026, there will be 1,460 dealers, which is an increase of 31.5%. And based on the set turnover, 230 openings will be available for the dealer job up to 2026. The numbers are the same for cashiers, with a 34% increase.

As for supervisors in the gaming industry, they are looking at an 16.9% increase.  And with sports betting, you will have an increase in the demand for sportsbook writers, which will increase to 39.7%, covering more than a thousand jobs by 2026.

These projections, of course, will be wholly dependent on current policies on gaming and sports betting in the state. The more liberalized the sports betting market will be, the higher these figures.