A Comparative Study of the Psychological and Economic Impacts of Gambling in Vietnam and the United States

Evaluating Economic Growth and Social Consequences

Abstract

This paper explores and provides a comparative analysis of the economic and psychological impacts of gambling, specifically focusing on casino industries in both Vietnam and the United States. Examining how casino gambling contributes to the nation’s economic development, employment, and tourism growth while also addressing its adverse effects on gambling addiction rates, mental health, and social well-being. By evaluating each country’s government policies, regulations, and benefits from the casino industry,  this paper delves deep into the broader implications on individuals and society. Using a combination of academic research, economic data, and personal insights drawn from the author’s familiarity with the psychological factors associated with gambling, as her family owns a lottery business in Vietnam, and her firsthand insights drawn from the author’s direct exposure to gambling culture. This research aims to analyze each country’s governmental strategies’ effectiveness in balancing economic benefits with the prevention of gambling addiction harms. Findings suggest that while the casino industry, along with other gambling industries, plays a vital role in helping both countries’ economic growth, it has also brought many different harms and concerns to individuals and families, including financial distress, addiction, an increase in crime rates, and family violence. While gambling serves as a significant economic driver, it requires effective regulations and improved addiction support services to mitigate its negative psychological effects. Future research should implement first-hand interviews to further explore gambling’s long-term socioeconomic and psychological consequences.