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How did Americans manage to lose
$119 billion gambling last year?

The Week, by John Aziz

Original Article

Posted By:Pluperfect, 2/6/2014 5:00:29 AM

The gambling industry around the world is huge, but the biggest market is the United States, where gamblers lost a staggering $119 billion in 2013:(Snip for chart)That´s a crazy amount of money; more money than Bill Gates has (with $72 billion) or Warren Buffett (with $58 billion), and only $11 billion less than the two men put together. What intrigues me is the question of why so many people gamble. After all, everyone knows that the odds are stacked against gamblers, whether they´re betting on slot machines, horse racing, football, roulette, bingo, or lotteries. Even the games where it is possible

      


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Reply 1 - Posted by: Spidey, 2/6/2014 5:27:27 AM     (No. 9721330)

You either have high rollers with plenty to lose or millions of desperate people trying an easy way to dig out of a financial rut.I´ll never believe what the industry says about over 90% of the gambled money goes back to players.
The idea of using a vice to raise government revenues is also sick.Some people can handle recreational play,then there´s others with 3-4 hungry mouths to feed blowing the rent money.
We´re also seeig the downside of pot legalization in Col. there´s been several pot related,deadly car accidents.The money these people think will come into their coffers will evaporate,dealing with the consequences.

What about the heritic liberals who want to be everybody´s helicoper parent untils it comes down to vices,which they practiacly beg people to engage in.For whatever reason we have become a very addictive society,things that used to seem relatively harmless at one time are now life destroyers.

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Reply 2 - Posted by: Topic Thunder, 2/6/2014 5:40:24 AM     (No. 9721334)

It´s those gosh darn Indian Casinos with their beguiling ads.

Also, the money wasn´t "lost", it was voluntarily transferred to another entity in exchange for "fun" unlike our relationship with the government where the money really does get lost!


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Reply 3 - Posted by: Trigger2, 2/6/2014 5:41:27 AM     (No. 9721335)

I´d be more interested to find out how much of the losses came from using taxpayer funded SNAP cards.

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Reply 4 - Posted by: chefrandy, 2/6/2014 6:34:45 AM     (No. 9721379)

Sh-h-h-h-h #3, you´re on to the secret of how having more people on unemployment and other govt. bennies is good for the economy. Disclaimer--thanks to some of them I was gainfully employed in the casino industry for several years.

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Reply 5 - Posted by: littleorby, 2/6/2014 7:19:00 AM     (No. 9721415)

Before the State governments took the lotteries away from the mafia, I was a tacit supporter of the ´numbers games´, as they were called. I contended, a down-on-his-luck skid row loser could, for fifty cents, buy a ray of hope for an entire day; furthermore, I opined, it´s not noble for governments to promote vices like gambling, because they, then become the scourge of society, in place of the mafia . . . I was a young man, then.

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Reply 6 - Posted by: StormCnter, 2/6/2014 7:23:17 AM     (No. 9721420)

I don´t gamble because I have a really creepy feeling I could easily become an addict. I´d like to think I´m too savvy to let that happen, but I know better.

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Reply 7 - Posted by: DCGIRL, 2/6/2014 8:33:32 AM     (No. 9721491)

With the high unemployment, do you wonder what money is being used. I get the feeling it could be welfare, food stamps, etc. Something stinks here.

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Reply 8 - Posted by: doctorfixit, 2/6/2014 8:49:19 AM     (No. 9721507)

Obamacare will free gamblers from the shackles of having to work to support their habit.

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Reply 9 - Posted by: philly_patriot, 2/6/2014 9:12:44 AM     (No. 9721543)

Because it´s an ADDICTION .......... like Drugs or Pornography ......... stupid.

It alters Brain.

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Reply 10 - Posted by: Lucky4, 2/6/2014 12:46:13 PM     (No. 9721890)

Very sad. I had a friend with a gambling problem. It ruins them. Now they have made it so easy with all this online gambling. It is not good.

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