Gambling

[NW-Bound]

Not a gambler here, but in my RV treks, I occasionally park overnight at casinos that extend the courtesy. I often walk through the casino to see if their restaurants or buffets look worthwhile. Most of their clientele are older people, read retirees. Are these the people that are supposedly feeding on pet food? I guess not.

 

[NW-Bound]

We just bought our retirement home in Bossier City, Louisiana, which is just across the Red River from Shreveport...

We did pass by Shreveport on our last RV trip. Parked the MH in a RV park outside the city, then took the toad to see the boardwalk, looking for a place to have dinner. We did not go to any casino there.

 

[haha]

The funny thing was I didn't know I was doing anything wrong. I grew up watching Jimmy the Greek give the point spreads and predictions on tv, and the newspaper always had the point spreads. I guess I wasn't raised right!

I lived in a community where before Robert Kennedy came to town, organized crime and gambling in particular were the largest industry. When my parents took us out to dinner, we sat in a horse book. I'll tell you that the ambiance and the food was 500% better than straight diners. The local K of C officers were doctors and lawyers and larger bookies. It was Cleveland mob, and very non-violent relative to the east coast. Their real business was laying off bets from all over the Midwest to Las Vegas, so there was little or no street level crap like shakedowns on store owners. Most of us considered it a black day when this started being "cleaned up". Many of the high school boys did not disapprove of the bar girls either.

Trying to convince me that gambling is morally wrong is not ever going to fly. We were pitching pennies and dimes in first grade at St. Somebody's, and loving it. And there was no junior high or high school without bookies, just as you were. IMO, one of the world's more honorable callings.

Ha

 

[Mulligan]

I lived in a community where before Robert Kennedy came to town, organized crime and gambling in particular were the largest industry. When my parents took us out to dinner, we sat in a horse book. I'll tell you that the ambiance and the food was 500% better than straight diners. The local K of C officers were doctors and lawyers and larger bookies. It was Cleveland mob, and very non-violent relative to the east coast. Most of us considered it a black day when this started being "cleaned up". Many of the high school boys did not disapprove of the bar girls either. Trying to convince me that gambling is morally wrong is not ever going to fly. We were pitching pennies in first grade at St. Somebody's, and loving it. And there was no junior high or high school without bookies, just as you were. IMO, one of the world's more honorable callings. Ha

I am smart enough to know I could never make a living betting, and certainly haven't tried. But that being said, why do I do it? Competition mostly, since my body can't compete anymore, my wallet will have to substitute. To paraphrase Paul Newman in the "Color of Money".... A dollar won is twice as sweet as a dollar earned.

 

[clifp]

Hawaii along with Utah are the only states without legalize gambling. For reasons that I never quite comprehend efforts to make gambling legal here never get very far.

So many Hawaiian go to Vegas that we call it Vegas Hawaii's 8th island. Many High School reunions are held in Vegas. Of course as Chuck points out everybody always win or breaks even in Vegas so it isn't like Hawaii folks spend money in Nevada

There is also a thriving illegal gambling economy. I know more than dozen guys and gals who make a good living running poker games and another 1/2 dozen who make a living playing poker.

I got a little PO the other day I was ranting about how about bad the Hawaii Health Connector and the 25 year old guy who was running the game, whips out his Hawaii medicaid card that he got via the exchange. Now the guy isn't rich but he seems to have a nice lifestyle. He use to sell cars but he makes more money from dealing and running a card game. I am pretty sure if he declared his income he probably wouldn't even be eligible for a subsidy much less free health insurance.

Given my choice between playing at a legal or illegal poker game, I'll take the legal one every time.

 

[brett]

I pushed the boat out yesterday and bought a $4. lottery ticket.

It is $4. worth of day dreams for a few days until I find out that some worthless, underserving jerk had the winning ticket. The 'fix' must have been in. It is only then that I realize how I have been conned and ripped off.

After an hour, often less, in the casino I get bored.

Besides, I understand the math.

 

[Walt34]

About once a month we'll buy a lottery ticket but that's an "entertainment expense" for a few day's worth of daydreams.

We've been to a casino only once in our lives for about an hour out of curiosity and just didn't see the draw. Charles Town Races and Slots in WV is not far from here and draws people from several states away. They have taken a hit from new casinos opening in nearby MD.

One guy at the job I retired from developed a severe gambling problem and after an embezzlement and his attorney wisely told him to retire immediately before he was fired. When that happens one is given a refund of retirement contributions and you're done. He also had the criminal charges to deal with.

 

[Badger]

I don't gamble. I guess I'm too frugal. Well, I did buy a lottery ticket a couple of times but was too lazy to see if I won so I stopped. If others want to gamble that's their business as long as it doesn't negatively impact me in some way.

About once a year I watch the folks at the blackjack tables on a cruise ship. I am always surprised at how fast the dealers get the cards out and rake in the money. It only takes 5 minutes or less at the $10 table to lose $100. In less than 1/2 hour it would have paid for my 7 day cruise.

Cheers!

 

[gcgang]

Probably would be a good poll subject, but a current article in our local paper "LaSalle NewsTribune" (readable only with sign up.)
started off this way:


The world has passed us by, and this was a surprse to us. Not just that so many people gamble, but the rate of increase. Since it looks like it's here to stay, we're going to have to get used to it, but wonder how others feel about the subject?

Does your state have legalized gambling? How wide spread? How much does gambling income help in state taxes, and is the money allocated? (as in aid to education).

Realize that most ER members probably don't gamble, except as a part of budgeted entertainment expense... but also wonder if anyone has had contact with problems that had a genesis in gambling. In our own CCRC, there are many residents who often take the "gaming bus" to a day of entertainment at different casinos. As far as I can tell, everyone we know who gambles, does it in small amounts...(maybe $20 to $50 limits) and they all can afford this as an entertainment expense.

Any thoughts on the subject?

Personally, I've always liked to play poker. I view it more of a game of skill than gambling, comparable to playing for money when you golf.
But I've never understood the people who will pump cash into machines. In Montana, they've had legal machines, with a max $800 payout for about 30 years. Taxes on this are a significant part of the states budget, devoted mostly to education, I think.
A few years after the machines were legalized, I had a friend who was looking to open a second casino and asked me if I'd be interested in investing. I told him that people weren't that stupid to continue to throw their quarters away sitting in front of a keno machine. A few years later we went on a golf trip. Just to rub in how he was doing, he priced everything in quarters.
What's the saying, never underestimate the stupidity of the general public.

 

[frank]

If the house is open they are winning. its all money for government at the cost to the small business that closed such as local restaurants, etc. why not just roll down your car window if you get the itch to throw money away and toss out whatever feels right.

 

[Mulligan]

If the house is open they are winning. its all money for government at the cost to the small business that closed such as local restaurants, etc. why not just roll down your car window if you get the itch to throw money away and toss out whatever feels right.

I think your being a little harsh in your assessment, Frank. Yes, the idiots who go in there believing today they are going to make their fortune. But many people consider it entertainment and treat it as such. No different than spending it at the movies, trips, or ball games.

 

[ERhoosier]

So by legalizing and promoting these machines, they inflict over $200 million in losses on taxpayers in order to collect $10 million in taxes. I wonder if the economy would have been better off if they just instituted a $10 million tax and let people keep the other $195 million.

Not to minimize the issue of gambling addiction, but to me this is just part of the entertainment industry. At least the gaming industry contributes to public coffers. Much preferable to gov't "inflicting" literally hundreds of million $$$ in grants & tax breaks on taxpayers for pro sports, concert/movie industry, etc. Why is it "wrong" for someone to spend (say) $50-100 (assume net loss) for a few hrs of gaming fun & a (usu) decent meal at a local casino vs much more to attend NFL football game?

 

[ziggy29]

As for lottery tickets, my beef is that it feels like the advertisements are preying on the most desperate among us, those who have given up virtually all hope of "making it" any other way. In other words, it feels like they are playing up the hopes and dreams of those who can least afford to pay it.

Other than that, I have no real issue with it, since it is a voluntary funding of public coffers.

 

[haha]

Why is it "wrong" for someone to spend (say) $50-100 (assume net gaming loss) for a few hrs of gaming fun & a (usu) decent meal at a local casino vs much more to attend NFL football game?

Plus in the casino security quickly removes obnoxious drunks, whereas sports stadiums always have their share of these creeps. Plus, I prefer the drink runners in a casino.

Ha

 

[ERhoosier]

Plus in the casino security quickly removes obnoxious drunks, whereas sports stadiums always have their share of these creeps.....

Ha

+1

I know more than a few folks who have quit their NFL season tickets over this.

 

[youbet]

So by legalizing and promoting these machines, they inflict over $200 million in losses on taxpayers in order to collect $10 million in taxes. I wonder if the economy would have been better off if they just instituted a $10 million tax and let people keep the other $195 million.

If you don't live here in Illinois, it must be hard to grasp the level of gov't corruption firmly in place. It's part of the culture. The reason the taxes collected vs the level of losses looks so out of balance is that gambling needs to be highly profitable for the private groups running it so that the payola back to Springfield can flow freely.

Just sayin' ................. Just my opinion..............

 

[haha]

If you don't live here in Illinois, it must be hard to grasp the level of gov't corruption firmly in place. It's part of the culture. The reason the taxes collected vs the level of losses looks so out of balance is that gambling needs to be highly profitable for the private groups running it so that the payola back to Springfield can flow freely.

Just sayin' ................. Just my opinion..............

Spoken by a man with a well rounded worldly experience.

Ha

 

[Gatordoc50]

If you don't live here in Illinois, it must be hard to grasp the level of gov't corruption firmly in place. It's part of the culture. The reason the taxes collected vs the level of losses looks so out of balance is that gambling needs to be highly profitable for the private groups running it so that the payola back to Springfield can flow freely.

Just sayin' ................. Just my opinion..............

Growing up in Springfield, I know the meaning of the term " private groups." Just in case anyone is considering getting in on the profitable gaming business, it's not an option open to the general public.

 

[HFWR]

Although I occasionally buy a lotto ticket for kicks, I don't care for gambling. While on vacation in Paradise Island, Bahamas, I remember thinking how dumb it seemed to be sitting in a dark, smoky casino, with such beautiful beaches and scenery all around. Same for Reno/Tahoe...

 

[Mulligan]

Although I occasionally buy a lotto ticket for kicks, I don't care for gambling. While on vacation in Paradise Island, Bahamas, I remember thinking how dumb it seemed to be sitting in a dark, smoky casino, with such beautiful beaches and scenery all around. Same for Reno/Tahoe...

I love Reno/Tahoe too. By day out on slopes, by night hunkered down in the sports book; provided my GF isn't chewing on me to get out!

 

[Car-Guy]

My state doesn't have "casino" gambling but on occasions I'll drive over the Bossier City (Shreveport LA) and do a little gambling. Sometimes I'll drive over there with an old friend of mine that lives down the road a few miles and spend the day (actually he's an a X-ER forum poster that some of you may recall - Highroller). He's a much bigger player than I am but I've known him for years and it's a fun way to spend some time with a long time friend.

 

[ERhoosier]

....Just in case anyone is considering getting in on the profitable gaming business, it's not an option open to the general public......

Investing in the casino industry is open to the public, inc stocks like Wynn, Las Vegas Sands, and Penn National Gaming.

Casino Stocks: 'Lucky 7' Picks & Pans?

But a quick web search for 'casino bankruptcies' shows not all prosper in this competitive industry. And most states are smart enough to tax GROSS revenues rather than net profits.