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What Are the Costs and Benefits of Gambling in the United Kingdom?

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Chapter Summary

This chapter analyses the economic costs and benefits to British society following the deregulation of high prize gaming machines and the introduction of new style casinos. Cost-benefit analysis is about looking at the losers and winners from implementing a policy change, and measuring and comparing those gains and losses using money as a unit of measurement. The chapter suggests possible effects in the United Kingdom from the introduction of small, large and regional casinos, by looking at the experience of Australia, where electronic gaming machines (EGM) with high prizes are offered in venues similar to small and large casinos in the United Kingdom. The increase in gambling opportunities will, however, cause a growth in the incidence of compulsive gambling. The debate around the gambling industry interests the majority of people. Some of them have very strong views on "goods" or "bads" that can be created by a new casino industry.

Keywords: Australia; cost-benefit analysis; electronic gaming machines (EGM); gambling industry; United Kingdom



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