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All posts tagged: The Spectacular Failure of Government-Sanctioned Gambling

Government’s Monopoly of Commercialized Gambling

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Yale Law School’s Stephen Carter wrote a terrific column in April 2011 on state lotteries. Carter writes: “Why on earth do we allow the government to hold a monopoly on the very profitable (if rather disgusting) business of persuading the suffering to part with their money in the hope of a munificent return they are all but certain never to see? In other words, why is the government in the lottery business at all?”

The state lottery has been a spectacular failure and more and more intelligent thinkers like Carter are speaking the truth about it.

End the Government’s Lottery Monopoly

LesGovernment’s Monopoly of Commercialized Gambling
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The Link Between Crime and Gambling Addiction

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This article from the Pittsburgh Tribune-Review explores the connection between gambling addiction and criminal activity. Because gamblers are allowed to lose such large sums of money in such a short period of time, some turn to stealing to help fuel their addiction and chase their losses. Generally, these are law-abiding citizens who would otherwise never commit crimes.

Gambling Addiction Leads Many Down Criminal Road

CkirbyThe Link Between Crime and Gambling Addiction
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Australia Attempting to End Electronic Gambling Machine Tricks

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Australia Senator Nick Xenophon is trying to stop certain features of electronic gambling machines (or “pokies” as they are known in that country) that trick players into thinking they have won, when they really have lost. Senator Xenophon is also requesting that the industry release machine probability accounting reports.

Call to Stop Pokie Machine Tricks

CkirbyAustralia Attempting to End Electronic Gambling Machine Tricks
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Native American Tribes and Payday Lenders Partnering to Avoid Oversight

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To help “broaden” their portfolio, some Native American tribes are now partnering with pay day lenders to allow such companies to circumvent state laws in nearly 20 states, according to a recent report by the Center for Public Integrity.

Well-intended people have been talking about alternate economic solutions for Native American tribes for more than twenty years. Yet there is no sense of urgency for these Native American tribes to change their predatory business partnerships and, as evidenced by their entrance into the payday lending arena, the situation is getting worse.

Fights over tribal payday lenders show challenges of financial reform

CkirbyNative American Tribes and Payday Lenders Partnering to Avoid Oversight
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The Reverse Robin Hood Effect

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Using data acquired from the Florida Lottery Commission, Florida scholars assessed what groups were benefiting from the lottery-funded Florida Bright Futures Scholarships and who were being harmed. Not surprisingly, the study reported that the “net benefits of the scholarships accrue disproportionately to counties with heavier concentrations of white, wealthy, and well-educated households.” The study concluded by stating: “If the Florida Bright Futures Scholarships are going to be made more equitable, the citizens who are harmed — the poor, the less-educated, and minorities, as well as citizens who care about fairness — need to get involved.”

The second study below uses survey data and finds similar results.

The Reverse Robin Hood Effect – The Distribution of Net Benefits From the Florida Bright Futures Scholarship

Some Futures Are Brighter than Others – The Net Benefits Received by Florida Bright Futures Scholarships

CkirbyThe Reverse Robin Hood Effect
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West Virginia Legislature Votes to Fund State’s Racinos

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In March 2011, West Virginia’s State Legislature voted on a bill that will use $10 million from an existing lottery to fund the state’s racinos for 10 years. Del. Mitch Carmichael, of Jackson, called the bill “the most ‘ridiculous’ he’s seen in several years.”

“Why should we single out a particular industry, the gaming industry and the Greenbrier Hotel, to give them special $10 million giveaways from the people of West Virginia,” Carmichael asked. “I just think it sets the wrong priorities.”

West Virginia Legislature Votes to Fund Racinos with Public Money

LesWest Virginia Legislature Votes to Fund State’s Racinos
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Government-Run Gambling Bigger Than Organized Crime

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Should our democratic institutions be competing with organized crime for revenue? Philadelphia Inquirer columnist Monica Yant Kinney discovers an important distinction between illegal underground gambling and government-sponsored predatory gambling: “Bookies don’t prey on gamblers. Bookies don’t solicit. Gamblers find them.”

This lies in stark contrast to state governments using taxpayer money to solicit our fellow citizens to play the lottery and providing tax incentives to allow casinos to come to town.

Pennsylvania Competing with Mob Bookies

CkirbyGovernment-Run Gambling Bigger Than Organized Crime
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Hitting Rock Bottom – West Virginia and the Problem Gambling Help Line

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West Virginia recently released some jaw-dropping data about the impact of the failed government policy of predatory gambling in that state. Among the findings was that in one county, one out of every 87 residents has called the 24-hour problem gambling hotline seeking help for themselves or a loved one. What is even more troubling about that finding is only about 10% of problem gamblers seek help at all. That means 90% of the problem gamblers in the county have not called the hotline.

Hitting Rock Bottom – Ohio County Leads State in Calls To Gambling Hotline

CkirbyHitting Rock Bottom – West Virginia and the Problem Gambling Help Line
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Atlantic City Looks To Bus More Homeless Back Home

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When predatory gambling interests come to your town or city, they falsely promise new jobs, revenue, and overall economic prosperity. However, the story below highlights the dark side of the industry. Beyond the glitz and glamor of Atlantic City’s multi-million dollar casinos, hundreds of homeless people are on the street with no place to go.

Atlantic City Looks To Bus More Homeless Back Home

CkirbyAtlantic City Looks To Bus More Homeless Back Home
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Money Laundering in Las Vegas

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Despite stricter sanctions that have eliminated some of the criminal activities in Las Vegas, money laundering still persists. According to one IRS agent in Las Vegas: “In a currency intensive industry it’s virtually impossible to eliminate entry points for money laundering. We work hand-in-hand with the casinos.”

Money Laundering Still on Rinse Cycle in Las Vegas Casinos

CkirbyMoney Laundering in Las Vegas
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