Sports betting is not about skills and it’s not like stock trading; it’s gambling, and as in gambling, the house always wins. Legalizing sports betting won’t make illegal betting disappear The main reason people bet with bookies is not the lack of alternative but availability and, most importantly, the generous line of credit that bookies. Gambling is legal in nevada, new jersy, and indian reservations. As to why it is illegal every where else is a matter to take up with the state legislatures and the people of the state. However also understand that there is a criminal element in gambling, even in nevada where gaming licenses are tightly controlled as to who gets them. Making gambling illegal will absolutely not stop gambling. Instead, it will drive gambling underground. And that’s where we start to run into problems. 1- People Are Going to Gamble Whether It’s Legal or Not.
Introduction
The House Financial Services Committee approved a bill on Wednesday that would lift the ban on Internet gambling by authorizing the Treasury Department to license and regulate Web-based nonsports betting operators. A companion measure pending before the House Ways and Means Committee would let the Internal Revenue Service tax winnings from online wagers.
While the legislation is a long way from becoming law, the prospect of taxing the winnings that have been estimated at $42 billion over 10 years would be a huge source of revenue for the government. Should Internet gambling be legalized?
Read the Discussion »Should Gambling Be Illegal Debate Arguments
Debaters
A Historical Tradition
Raymond Sauer, professor of economics
Too Many Negative Side Effects
Earl L. Grinols, professor of economics
Bans Don’t Work
Michelle Minton, Competitive Enterprise Institute
Keep the Ban
John Kindt, professor of business and legal policy
Personal Freedom
Annie Duke, professional poker player
A Predatory Business
Les Bernal, Stop Predatory Gambling
Leveling the Playing Field
Robert Hahn, regulation2point0.org
Why Add More Options?
Larry Ashley, addiction specialist
Recent Discussions
AGAINST BANNING GAMBLING | FOR BANNING GAMBLING |
1. AS GOOD AS ANYTHINGAs the popular adage goes, time you enjoy wasting is not wasted time. Say what you want about gambling, but you cannot deny that it is fun. Heck, even if you do try to deny it, the science will just prove you wrong. We now know that gambling triggers the release of dopamine in our brains which, by definition, is linked to pleasure. All humans like the thrill of a possible reward. Gambling, by its very nature, provides that for us. As long as you go into it treating it like any other leisure activity – where you may actually have to pay up – it’s fine. | 1. AS BAD AS IT GETSReligions across the world have been warning us of the dangers of gambling for centuries. “You cannot serve both God and money,” sayeth the Bible. The Talmud condemns gambling as a sin. The Quran lists it as haram. Certain sects of Hinduism specifically forbid it. Would it not be prudent to heed the common wisdom of these great faiths? Even if you’re non-religious, you’ve surely heard horror stories wrought upon families by gambling. Be it fathers or mothers abandoning their parental responsibilities, losing life savings or destroying their home lives, it’s not a pretty sight. Gambling can be seriously detrimental to your social well-being. |
2. FREEDOMWe’re all adults, aren’t we? Do we really need a nanny state to regulate our behaviour? At the end of the day, it should come down to personal responsibility. If you want to go ahead and gamble, you should have the freedom to do so. It’s never a good idea to grant governments the right to legislate morality. We’ve already seen the disastrous results that led to in regards to sexuality and drinking. Of course, like anything, there is always the risk of gambling being abused by individuals. That’s the risk you find with any recreational activity. However, it’d be foolish to create laws based on the extremes. | 2. ADDICTIONOf course, you’re free to do as you wish, but how free are you really once you fall into the dark grip of addiction? Problem gambling is a well-known psychiatric issue. Gambling triggers the reward centre of the brain. For certain individuals, this pleasant sensation creates a compulsive disorder. In Europe, pathological gambling rates vary between 2% and 6.5% in the adult population. That’s not a negligible number. |
3. IT’S USEFULMoney, money, money. That’s what gambling is all about at the end of the day, is it not? What better way for the state to collect tax revenue than by tapping into such a lucrative sector. In 2015, the money brought in by gambling in Europe was 94.2 billion euros. To put that into perspective, that’s nearly 2/3rd of the EU’s annual budget. You’d have to be an idiot not to exploit that goldmine. | 3. IT’S RIGGEDThe house always wins. Of course it does: why else would anyone want to open up a casino? The capitalist system is based around return on investments. Casino owners and gambling websites know this all too well and, of course, they specifically create business models to ensure profitability. You could well be one of the very lucky few to benefit from this system, but you’re far more likely to be the stupid schmuck that loses everything. May the very low odds be ever in your favour… |