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Gambling and how it is connected with happiness

My blogs may give you an impression that gambling is only about taxes, regulatory policy, legislation and the fight against illegal gambling businesses. However, from the Ukrainian perspective these are really the main issues the industry is facing today. The market is formed against the background of many challenges, the elimination of which is absolutely necessary for its preservation. However, gambling is not only about regulatory complications. It is also about the game itself and positive emotions from it. Governments of developed countries understand this perfectly, and, instead of banning gambling, use it for the benefit of their economy and citizens.

If we look at developed countries, we will see that gambling is legalized and is part of the economic system in most of them. In the West and developed Eastern economies, gambling is part of the entertainment industry, and players can gamble in the same way as, for example, they go to amusement parks or movie theatres. This is a completely legal and affordable form of leisure. At the same time, the state receives taxes and license fees, gambling organizers create jobs for the people, investors invest money in gambling and related industries. This is what is called a civilized gambling market, when there are clear rules and everyone is happy.

By the way, it is also interesting that according to World Happiness Report 2023, the top ten countries with the happiest population include 8 states where gambling is legal. This is hardly a coincidence, because any developed economy is primarily aimed at meeting the needs of citizens and is based on three main principles.

1. Right of choice. Gambling is entertainment, and if a person wants to spend his/her free time gambling, the person has every right to do so. Therefore, the task of the state is to create appropriate conditions for a person to be able to comfortably and safely use this type of service.

2. Control. It is impossible to ensure the effective functioning of the industry and the appropriate exercising of players' rights without a clear system of control by the state. Therefore, in order for the gambling market to function, developed economies have relevant branches of legislation that regulate all its areas – from the payment of license fees and taxes to the fight against the spread of gambling addiction.

3. Protection of rights. The clearer and more extensive the legislation in a certain industry, the easier it is to ensure compliance with the rights of both service providers and their users.

Such approach to the development of the gambling industry makes everyone happy: players, the state and gambling companies. We should strive for this by building the legal gambling market in Ukraine. The first step has been taken: players have been given the right to play legally without worrying that they are doing something "illegal". Now we need to actively move on to steps 2 and 3 – building the regulatory environment and legislation. This will ensure the appropriate level of market stability and make legal gambling more accessible and enjoyable for players.


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