A book has warned that a surge of legalized gambling in the last two decade is affecting security and military readiness in the United States.
The latest volume in the three-part United States International Gambling Report Series points out that casinos drain money from consumer products and services, weakening the economic engine that ultimately drives defence spending.
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"Widespread gambling gambles with our national security by dragging down our national economic security," he added.
The books says that gambling siphons money from the traditional consumer economy, where an economic "multiplier effect" triples the value of every dollar spent by creating jobs that supply goods and services.
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"The social costs of gambling are high, but the overriding strategic issue has always been the military and national security implications of economies that get weaker and weaker because of gambling," said Kindt, a professor of business and public policy.
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"We're seeing all kinds of really outrageous examples of people averse to our interests who are using gambling to their advantage and our detriment, such as laundering money through casinos around the world," Kindt said.
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Global expansion of gambling got its roots in 1988, when the U.S. approved the Indian Gaming Regulatory Act and established the first federal framework to regulate gaming.
The series says that the move wrongly suggested that gambling promoted economic development, and countries around the world soon began lifting bans on gambling and emulating U.S. gaming technology.
"Gambling actually destabilizes and corrupts governmental and financial systems, and legalized gambling poses significant threats to the national security of the United States and its allies," Kindt said.
Source-ANI
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