Such was the case last week during the Mega-Millions mayhem that gripped America as the jackpot swelled to a record $656 million. Lines of people wrapped around buildings and out into parking lots as it seemed like everyone was a willing participate in this “voluntary taxation”.
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| Losers...Figuratively, Literally, or Both? |
I like to gamble as I’ve always considered it a provocative form of entertainment, but I'm more of a coincidental gambler. I don't ever seek out casinos, but may venture into one while on vacation or away on business. So, I’m that guy at the tables twice a year that loses $25 in less than 30 minutes (sometimes much less than 30 minutes) and leaves. Truth be told, however, I find it much more entertaining watching others at the casino than actually gambling. Those with their “systems”, idiosyncrasies, and superstitious rituals all designed to make sure they come out ahead.
The sad fact of the matter, though, is that gambling implemented to aid governments as willing participants entertained themselves for an hour or two has regressed into jurisdictions addicted to the proceeds and most willing participants are those who can least afford it and will rarely come out ahead. To this point, I wasn’t shocked to read that one of the supposed winners of last week's Mega-Millions jackpot was a single mother of 7, who was working at McDonalds. How she could justify committing any funds to gambling wasn’t disclosed in the story.
Children locked in cars in parking lots while “parents” indulge, morbidly obese seniors lapping over the seats of their mobility scooters blowing Social Security proceeds, and the chronically unemployed waging their welfare benefits because they’re all feeling lucky are now all too common at the strip mall casinos.
And let us not forget about the crime. I sure no one would be surprised to learn that gambling attracts a criminal element, but it’s likely more extensive than you’d think. In the years after casinos opened in Atlantic City, the area went from having the 50th highest per capita crime rate to number 1. Pennsylvania, which only opened its first casino in 2006, recently surpassed New Jersey, becoming the second-largest casino market in the country pulling in a record $233 million in gross slot machine revenue last MONTH!!! This prompted Spectrum Gaming Group senior VP, Joe Weinert to comment, “Virtually every jurisdiction in the country would kill for that kind of growth.” He did not state whether or not his ironic use of the verb “kill” was intentional or not.
The often promised secondary economic impact from legalized gambling never seems to materialize. As glitzy as Atlantic City casinos have become, no one actually lives in the city and non-gaming areas of town are rife with boarded-up buildings and vacant lots.
What any jurisdiction puts into its right pocket from the proceeds of gaming will certainly be paid out tenfold from its left as the social safety net continues to expand in order to “catch” all those for which gambling has become a way of life and the others who are indirectly affected by it. It’s a racket, not an economic development tool and it’s sad that governments’ stand on the matter seems to be to “Let it ride!!”
