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Banks Vs. Casino

ш BANKS CASINOS Vs How Alike Are They? Financial Facts: III Banks III 10% GDP Banking / Financial Services sector accounts for 10% of UK GDP in 201O £243 billion The total value of the UK banking and financial services sector in 2010 000000 £60 billion The trade surplus of exports of banking and financial services in 2009 In 2009/201O, the banking and financial sector contributed £53 billion in tax receipts. £53bn 0% 50% 100% of all government income from taxation came from the banking and financial sector 11% £15 TRILLION the total UK banking and financial sector assets That's six times the UK's GDP (gross domestic product) O Casinos / Gambling O £1.1 billion The value of the casino industry in 201O 0.5% GDP The gambling sector accounted for 0.5% of UK GDP in 2010 £6 billion The total value of the UK gambling sector in 2010 £70 million Exports of UK gambling products ran a surplus of £70million in 2010, primarily via online sales and tourism Employees: The gambling sector in the UK has approx 100,000 employees The financial sector in the UK has 1,000,000 employees IMIMIMIMIMIA IMIMIMIMIMIA UK casinos employ around 12,000 people IMIMIMIMIMIA (0.04% of the total number of UK-based employees) MIMIMIMIMIA AIMIMIMIMIMIA UK banks employ around 400,000 people (1.36% of the total number of UK-based employees) MIA Cash Stores: Casinos hold in excess of 100% of clients money - i.e. 100% of the largest potential payout they would have to make on any given day. Banks hold only 5% of clients money on average - i.e. 5% of the money held in the savings accounts of the banks' customers. Thus, a bank would go bust if all its customers withdrew just 10% of their savings, whilst Casinos face the prospect of 100% withdrawals (cashing in on chips) everyday and very rarely go bust. Law and Order: Losses from An inability to repay bank loans and credit card gambling accounted for just 0.7% of all bankruptcies in the United Kingdom in the last year debts accounted for 87% of all bankruptcies in 2011 Bank and financial services frauds cost £30 billion a year, whilst casino frauds are estimated at only £24 million per year Salaries: £31,000 £50,000 The average salary for a casino manager in the UK The average salary for a bank manager in the UK The average wage of a casino dealer in the UK is The average wage of a bank teller in the UK is £21,000 £19,000 Commentary: The analogy between banks and casinos is false. It's been said that banks are utilities with casinos attached. The argument is based on risk, uncertainty and probability. Casinos deal with risk, whereas banks deals with uncertainty: Risk: Outcome not sure to happen, possibility known Uncertainty: Outcome not sure to happen, possibility unknown Casinos are safer prospect because of the law of large numbers. They deal in regular risk events, such as a roll of a dice. A casino's profits depend on the probability that more people will lose than win. If banks had acted like casinos, it would have been virtually impossible for them to go bust on the roll of a dice. Infographic brought to you by DRACON

Banks Vs. Casino

shared by vplounge on Aug 16
Banks vs. casinos... where are you likely to lose more money? The answer seems obvious, but this interesting infographic will open your eyes to some shocking facts that you might never have expected. ...


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