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Gambling is an addictive and unproductive activity consisting of betting on games of chance. Sometimes the game entails some skill as an attraction, as in [[poker]]. Gambling also includes betting on sporting events, or on events such as election results. [[Lottery|Lotteries]] are a common form of gambling, with a small stake being bet for the very low probability of winning a very large amount of money, if the numbers a player chooses are selected by a random number picking device.
Gambling is an addictive and unproductive activity consisting of betting on games of chance. Sometimes the game entails some skill as an attraction, as in [[poker]]. Gambling also includes betting on sporting events, or on events such as election results. [[Lottery|Lotteries]] are a common form of gambling, with a small stake being bet for the very low probability of winning a very large amount of money, if the numbers a player chooses are selected by a random number picking device.
Many tragedies result from addiction to [[gambling]], such as losing all of one's money in a single gambling spree. Only [[Missouri]] has loss limits on gambling.
Many tragedies result from addiction to [[gambling]], such as losing all of one's money in a single gambling spree. Only [[Missouri]] has a [[gambling loss limit]].
In games played against the "house" (for example, in a [[casino]]), typically the players will have an [[expected return]] of less than 100%. For example, in roulette, in the case of a 0 or 00 result, the money bet goes to the casino. In games against other players (such as poker), the expected return might be 100%, when the players are of equal skill levels (assuming the order of dealing is not important), or certain players might have greater (or lesser) expected returns, if they are better (or worse) players. If all the money stays with the players, then the overall expected return is 100%. If the "house" takes a rake of the money bet, the overall expected return will be less than 100%.
In games played against the "house" (for example, in a [[casino]]), typically the players will have an [[expected return]] of less than 100%. For example, in roulette, in the case of a 0 or 00 result, the money bet goes to the casino. In games against other players (such as poker), the expected return might be 100%, when the players are of equal skill levels (assuming the order of dealing is not important), or certain players might have greater (or lesser) expected returns, if they are better (or worse) players. If all the money stays with the players, then the overall expected return is 100%. If the "house" takes a rake of the money bet, the overall expected return will be less than 100%.
On June 29, 2007, [[Focus on the Family]] issued an alert warning<ref>http://www.citizenlink.org/FOSI/gambling/cog/A000004244.cfm</ref> of a planned visit to Washington D.C. by a pro-Internet gambling rights group Casino Gambling Web<ref>http://www.casinogamblingweb.com/gambling-news/gambling-law/an_internet_gambling_education_for_anti_online_gambling_groups_46698.html</ref>. According to the alert, Casino Gambling Web has collected nearly 5,000 American signatures on their Repeal the Internet Gambling Ban petition, at [http://www.thepetitionsite.com/petition/306149419 www.thepetitionsite.com/petition/306149419], and will take this to Washington in July 2007.
On June 29, 2007, [[Focus on the Family]] issued an alert warning<ref>http://www.citizenlink.org/FOSI/gambling/cog/A000004244.cfm</ref> of a planned visit to Washington D.C. by a pro-Internet gambling rights group Casino Gambling Web<ref>http://www.casinogamblingweb.com/gambling-news/gambling-law/an_internet_gambling_education_for_anti_online_gambling_groups_46698.html</ref>. According to the alert, Casino Gambling Web has collected nearly 5,000 American signatures on their Repeal the Internet Gambling Ban petition, at [http://www.thepetitionsite.com/petition/306149419 www.thepetitionsite.com/petition/306149419], and will take this to Washington in July 2007.
== Gambling Loss Limit ==
The Missouri legislature, with the approval of voters, adopted a gambling loss limit in an effort to prevent substantial losses by gambling patrons. The loss limit allows for a loss of no more than $500 every two hours, or $6000 per day. This loss limit does not limit recreational gambling but does clearly help reduce the impact felt from pathological and problem gamblers as well as help prevent illegal money laundering.
Those individuals who would gamble and lose more that $500 ever two hours are most likely to be the pathological and problem gambler. Those individuals are the least able to control their gambling and are the most responsible for the social cost that result from gambling <ref>http://www.casinowatch.org</ref>. This loss limit helps to reduce binge gambling because “many problem gamblers have binge activity extending over long hours. If casinos would have closing hours, (or loss limits) even if only for two to four hours an evening, such binge behavior could be temporarily stopped, and a problem gambler could be brought back to reality." <ref>http://www.casinowatch.org/loss_limit/briefing_points.html</ref> In fact, “removing loss limits at gambling establishments will lead to an increase in compulsive gambling and an escalation of the gambling by those individuals in the early throes of addiction." <ref>http://www.casinowatch.org/loss_limit/lorenz_letter.html</ref>
The $500 loss limit also significantly deters the use of casinos as a means for illegally laundering large sums of money. “The federal government is currently expanding regulation necessary to limit money laundering by drug cartels and terrorist organizations. The federal government has found that existing federal regulation of, and reporting requirements for, casino transactions are not sufficient to limit or reduce money laundering and that additional regulation is needed. News reports indicate that terrorists were using casinos (including Missouri casinos) in the course of the recent terrorist attacks. Thus, in this climate, it is not a time to loosen the regulations o n casinos but a time to -- as the federal government is doing -- consider additional money laundering regulations for casinos and other gambling enterprises. An investigation by the United States General Accounting Office concluded that, ‘As the amount of money wagered annually has increased, casinos may have become more vulnerable to individuals who attempt to launder their illegal profits in the fast-paced environment of casino gaming.’” <ref>http://www.casinowatch.org/terrorists/money_laundering.html</ref> A gambling loss limit provides the regulation necessary to prevent such harmful and illegal money laundering from organized crime syndicates and terrorists alike.