The Smartest Guys NOT in the Room

Check out this really interesting article from the Stop Predatory Gambling website. It lists quite a few of the big players in the gambling industry who refuse to gamble themselves because they know what a waste of money it is.

Predatory gambling operators often say their business is no different than “drinking wine, going out to dinner or going to the movies.” Yet the owner of the vineyard drinks the wine he makes. The owner of the restaurant eats the food he serves. The movie actress watches the movies she makes. Predatory gambling is the only “product” or “service” where most of the people who own it and promote it, don’t use it and don’t want to live near it.

Nor do many of the public officials who advocate for predatory gambling lose their own money on government’s gambling program. If they did gamble regularly like those citizens in Philadelphia who are now losing their money in casinos more than 200 times a year (visiting a casino once or twice a year doesn’t make you a gambler), they would understand why government needs to get out of the predatory gambling business. Because as former three-term New York Governor Mario Cuomo once said, “Anyone who has ever seen the problems gambling creates for families could never be in favor of establishing casinos.”

Why don’t most predatory gambling operators and promoters lose their own money gambling? Because the government policy of casinos and lotteries is based on deceiving citizens into thinking they can win money, despite the mathematical certainty they will lose their money over time. The more frequently they gamble, the more money they will lose.

Click here to read the entire article and see the list of names.

 

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