| Line 1: |
Line 1: |
| − | '''Gambling''' consists of betting on games of chance or uncertain outcomes (like the winner of a sports match or an election). Sometimes the game entails some skill as an attraction, as in [[poker]]. Gambling addiction has a devastatingly harmful effect on society and families affected by it. | + | '''Gambling''' consists of betting on games of chance or uncertain outcomes (like the winner of a sports match or an election). Sometimes the game entails some skill as an attraction, as in [[poker]]. Gambling addiction has a devastatingly harmful effect on society and families affected by it. |
| | | | |
| − | However the gaming industry is a major tourist-oriented business in Nevada. In recent decades casino gambling has been legalized in many states, in some cases in narrowly specified locales (such as riverboats) or on Indian reservations (which are less subject to state law.)
| + | But the gaming industry is a major tourist-oriented business in Nevada. In recent decades casino gambling has been legalized in many states, in some cases in narrowly specified locales (such as riverboats) or on Indian reservations (which are less subject to state law.) |
| | + | |
| | + | 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. Lotteries are a major revenue source for governments. In just one multi-state lottery in early 2012, there was about $1.5 billion wasted on the "Mega Millions" lottery - money that could have been put to far better use.<ref>http://www.jacksonsun.com/article/20120331/NEWS/303310014/Americans-spend-1-5B-Mega-Millions-tickets?odyssey=mod|mostview</ref> |
| | | | |
| − | 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. Lotteries are a major revenue source for governments.
| |
| | ==Addiction== | | ==Addiction== |
| | A certain fraction of the population is addicted to gambling and tend to drain family resources on the habit. Stories are common of addicts losing all their money in a single gambling spree. Only [[Missouri]] has a [[Gambling_Loss_Limit|gambling loss limit]]. | | A certain fraction of the population is addicted to gambling and tend to drain family resources on the habit. Stories are common of addicts losing all their money in a single gambling spree. Only [[Missouri]] has a [[Gambling_Loss_Limit|gambling loss limit]]. |
| Line 38: |
Line 39: |
| | | | |
| | 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. | | 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. |
| − |
| |
| − |
| |
| − |
| |
| | | | |
| | == References == | | == References == |