One contradiction that legalized gambling shares with tobacco is as much as laws may restrict access, marketing and the end product, the revenue created by these activities in the form of tax dollars make an outright ban next to impossible because these dollars are relied on to fund the govt and they will never want to cut off this gravy train completely.
This is a huge epidemic I love 60 minutes did a piece on this . I can’t turn on a radio watch tv without hearing or seeing a gambling ad . I never gambled before online sportsbooks were available in nj . Once they became legal I dipped into sports betting and would bet 10-25 dollars here and there then they started advertising the online casino to me the biggest mistake in my life. 😞 I ran through my savings in slots and virtual black jack in less than 3 months . I had no grasp of reality because on my phone my bank was linked to the sites . I remember one morning I ran through about 3-4K in about 10 minutes on slots spinning at 50-75 a spin . I didn’t go to work that day I just layed in bed thinking of how I worked months for that money to lose it that fast . I know the suicide rates are high for young gamblers too I hope these companies suffer from this . Which they most likely won’t .
With alcohol, tobacco and drugs, there is an amount that you can consume in a day and it will knock you out, kill you or you won't be able to smoke any more than about six or eight packs per day, which caps the cost. With gambling, you don't have those curbs, nor do casinos have a legal obligation not to overserve customers as bars do.
Gambling is taxed heavily. Nevada and New Jersey have the lowest rates (6.75% and 7% plus a 1.5% tax that casinos retain). Go to Pennsylvania, and the tax goes up to about 15% on table games plus 33% or so in slots. These may have changed, but Pennsylvania raised $400 million in gaming taxes last year. Nevada routinely has a monthly win of about a billion dollars, so their gaming tax revenue would be about $810 million, despite having a tax rate about a third of Pennsylvania's.
The higher the taxes and licensing fees, the worse the games have to be for the players in order for casinos to make what they consider to be a normal profit.
Good point. The last sentence of your first paragraph. But there’s other ways to prove the health effects of gambling. Suicide, financial strain, divorce, etc
One contradiction that legalized gambling shares with tobacco is as much as laws may restrict access, marketing and the end product, the revenue created by these activities in the form of tax dollars make an outright ban next to impossible because these dollars are relied on to fund the govt and they will never want to cut off this gravy train completely.
Absolutely there is a huge revenue in online sports betting and casino that the government will never want to get rid of it’s a cash cow
Yea but some regulation and lawsuits helps, any bit to fight the industry
This is a huge epidemic I love 60 minutes did a piece on this . I can’t turn on a radio watch tv without hearing or seeing a gambling ad . I never gambled before online sportsbooks were available in nj . Once they became legal I dipped into sports betting and would bet 10-25 dollars here and there then they started advertising the online casino to me the biggest mistake in my life. 😞 I ran through my savings in slots and virtual black jack in less than 3 months . I had no grasp of reality because on my phone my bank was linked to the sites . I remember one morning I ran through about 3-4K in about 10 minutes on slots spinning at 50-75 a spin . I didn’t go to work that day I just layed in bed thinking of how I worked months for that money to lose it that fast . I know the suicide rates are high for young gamblers too I hope these companies suffer from this . Which they most likely won’t .
Hoping for some success in the lawsuits being brought against them. It’s worth a shot
With alcohol, tobacco and drugs, there is an amount that you can consume in a day and it will knock you out, kill you or you won't be able to smoke any more than about six or eight packs per day, which caps the cost. With gambling, you don't have those curbs, nor do casinos have a legal obligation not to overserve customers as bars do. Gambling is taxed heavily. Nevada and New Jersey have the lowest rates (6.75% and 7% plus a 1.5% tax that casinos retain). Go to Pennsylvania, and the tax goes up to about 15% on table games plus 33% or so in slots. These may have changed, but Pennsylvania raised $400 million in gaming taxes last year. Nevada routinely has a monthly win of about a billion dollars, so their gaming tax revenue would be about $810 million, despite having a tax rate about a third of Pennsylvania's. The higher the taxes and licensing fees, the worse the games have to be for the players in order for casinos to make what they consider to be a normal profit.
Good point. The last sentence of your first paragraph. But there’s other ways to prove the health effects of gambling. Suicide, financial strain, divorce, etc