What's happened
Recent reports highlight the negative economic impact of online gambling in the UK and the rising need for gambling prevention in the US. Experts advocate for higher taxes on the gambling industry and stricter regulations to mitigate harm and improve public health outcomes.
Why it matters
What the papers say
According to Jon Ungoed-Thomas in The Guardian, a report by the Campaign for Fairer Gambling highlights that online gambling has negatively impacted the UK economy, suggesting that higher taxes are necessary to mitigate these effects. Meanwhile, Felicia Grondin from The Guardian emphasizes the public health crisis in the US, noting a significant increase in problem gambling since the legalization of sports betting. In Australia, the Grattan Institute's report calls for a comprehensive approach to tackle gambling harm, including a ban on advertisements and stricter regulations. These contrasting views illustrate the ongoing debate about the balance between economic benefits and the societal costs of gambling.
How we got here
The online gambling sector has seen significant growth, with revenues in the UK rising from £4.2 billion in 2015-16 to £6.5 billion in 2022-23. Concurrently, the US has experienced a surge in gambling-related issues, particularly since the legalization of sports betting in several states.
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