Gambling - New York State’s answer to fiscal irresponsibility
Written by Michael Vass
There are a few things you can always count on in life as I have observed. The Government always gets bigger over time. People always drink when the economy is good, and 2x as much when it is bad. And any sales pitch offering free money will make the salesman rich.
Taking the last thought as an example, I am reminded of a conversation with a colleague. In New York State there are several racinos. These are horse racing tracks that also offer other betting opportunities. Currently you can go to one, say Tioga Downs, and bet on horse races, video poker, lotteries, and video slots. Card games are not allowed, yet.
It’s not Las Vegas. You really can’t even compare it to Atlantic City. It’s just slightly better than a bingo hall. But these racinos get filled daily. Because the lure of free money is addictive. This is why more and more States are licensing these venues each year.
The concept is that this is not hardcore gambling. It’s recreational. It’s a fun pastime. Except they are in the business of free money. And the Government gets a huge slice of the profits. Just like Lotto.
Any time you can see a huge payout on any bet, you can be assured you have a better chance of being struck by lightning than winning. A $200 million lottery prize means that the state will likely clear $400 million in bets. Even if a dozen people do win, each of them are more likely to have been struck by lightning – even if they each had a dozen tickets each. Thus the tens of thousands of people, if not more, are doing only 1 thing – making the lottery rich. Honestly the best bet is always a single lottery for a buck.
But the State Government knows a good thing when it has it. Lotto worked wonders. Then came the racinos (in an attempt to gains some of the money that was being lost to the Indian casinos) with video gambling. But that was when the economy was decent.
Right now New York State is in such dire need that a purchase of soda is going to have multiple taxes added to it. If the State could tax breathing and get away with it, I think they would try it. Because the wanton spending of the likes of Gov. Patterson and those before him are finally catching up with them. They have so embraced the “tax the rich” concept that either the rich don’t exist as they did, or they have moved to a State with far more fair tax codes.
Thus the racinos are now about to get a new trick pony. Video gaming tables, likely followed by actual card games. Which to me spells the death knell for the State budget. It is an act of desperation. It is preying upon the foolish and the sick (gambling addicts) in the hope of continuing on the current path of irresponsibility.
The addition of video gaming tables is expected to add some $150 million to State revenues. These tables are a neat loophole in current laws by the way. It is a large touchscreen table. You can sit at the table and play poker, electronically and without a dealer, as if it were video poker. Except you are actually playing against other people. But since the deck and dealer are electronic this bypasses the laws that would restrict these games.
Not that a few laws matter. Not in the face of a budget deficit similar to that of California. Thus the push for real card tables is underway. Expect that to change in 2010.
The net effect is that the State is acting like a crack dealer. They are pushing an addiction for money. An addiction that inevitably destroys the addicts. Thus the only way to keep up this ponzi-like scheme is to always get more people hooked.
Look I like gambling like everyone else. I’ll play poker with the guys (and a few ladies too). I’ll buy a Lotto ticket for a buck on occasion. I love to play craps at the casinos. But moderation and the lack of opportunity are critical. As is my understanding that the odds are rarely ever better than my chance of being struck by a meteorite.
Most people don’t understand how outrageously bad the odds are against winning any bet made. They have even less of a concept of this when the State Government is behind the bet. The State is supposed to help and protect the citizens, thus implying a fairness and opportunity that does not exist. It’s the same reason some people will spend $100 or more on Lotto, thinking they have increased their odds substantially – which in fact has made almost no realist effect.
I don’t like it when a State is acting more like a drug dealer than a proponent of the people. Especially when the motivating factor is the idiocy of the politicians in charge. Video gaming tables are a bad idea. It’s the worst substitute for efficient policies and fiscal responsibility. They are a suckers bet, and are a means to feed the State’s habit (spending money like an alcoholic drinks) while violating the public trust.
June 11th, 2009 at 7:36 am
it ain’t simple (: