Many country as well as city in the world considers casino industry as a revenue generator or enhancer. Previously, gambling had a small platform and it had no legal status but later on, people eyes concentrated on the revenue collected by the gambling industry which leads to legalized the casino industry. The government of a country legalized a casino because from there they also obtain a good amount of money which if further be added to the revenue generated per capita. Today betting over good money is so simple for the casino industry. It is considered as an entertainment business, there is a great possibility of collecting revenue that’s why a country like South America and southern Africa deals with the casino industry.
Slot machine technology in Casino
When we talk about slot machine manufacturing technology, bally technology is founded in 1968. The ball technology is one of the oldest technology and the slot machine which is the heart of the casino industry is based ob bally technology. Jack Solomon and Alvin Snape had discovered this technology which includes simple logic. In slot machine game a proficient can win easily but the technology which is being used in the manufacturing of the slot machine favor casino industry. That means most of the time players lose in this game, hence it improves the revenue as when you lose, there is a win of the casino. According to the psychological test of the gambler the fast they lose the game, the fast they continue to bet.
Overview of the generated revenue
We know that gambling is a game of dg grand chance; hence the gambling industry has enormous profit. According to recent American Gaming Association record, the casino industry served the US revenue by 76.1 million patrons from 464 casinos all around the US which was more than a movie industry as well as the music industry. The gambling industry isa key factor in accordance to local as well as international crime and corruption then also generation of revenue is high. About 4 percent of the population in America is suggested to have a pathological problem regarding Betting. Many of them were foundaddicted towards Gambling.
Conclusion
The casino industry is considered as a great generator of revenue but side by side it promotes local crime, money laundering. corruption is one of the results of the expansion of the gambling industry. The best example is being set by Las Vegas which is known as the gambling capital of the world, in order to become a main functioning stage of crime in the US.Apart from revenue generation, the casino industry is a threatto any country which is why many countries like Kenya enhanced the tax over a casinofor up to 35 %. If we talk about Germany, this country collects 90% of the gambling collection from the player as well as casino have to pay the tax to the government.