Missouri bill is a bad bet for gamblers
When Missouri legalized casino gambling in the early 1990s, it came with certain restrictions, both geographical and monetary.
Casinos had to be actual vessels, limited to certain rivers.
And no high-rolling here: Gamblers’ losses were limited to $500 every two hours.
Both of those restrictions vanished in the ensuing years. Now the casinos want to take another big step: They want to be able to make loans to their patrons.
Yes, they’re serious. They want to allow people to gamble with borrowed money. With little fanfare or debate, a measure to that effect was attached to a banking bill in the House and endorsed 13-1 by the House Financial Institutions Committee.
Rep. Scott Largent, a Clinton Republican who is sponsoring the measure, has said the change would eliminate an inconvenience for high-rolling athletes and others who find it inconvenient to carry $20,000 or $30,000 in cash.
Supporters note that casinos in Illinois are allowed to make loans to patrons — and on the eastern side of the state, high-rolling gamblers go to Illinois, rather than to Missouri facilities.
Well, Illinois is not usually offered as an examplar of wise public policy, and this would serve as one more example. Willingness to put borrowed money at risk in a casino is a classic sign of gambling addiction. Allowing such loans would exponentially worsen the social consequences.
Casino loans for gamblers is a truly bad idea, and the measure should be killed.
Phil Cardarella
1 year, 1 month agoSeriously, gambling was less corrosive to society when the mob ran it.
Now, it is “gaming” and they simply purchase state and local governments at will. Probably in bundles.
Here’s a thought: Amend the bill to allow “loans” ONLY to those from out of state who can show proof of employment by professional sports teams. AND NO ONE ELSE!
Somehow, it seems that the legislation that the “gaming” industry wants is a lot broader than the problem the claim to have. It is almost as if those who make immense profits from telling the public that their casinos produce WINNERS! were lying about that, too.
Mark Hastert
1 year, 1 month agoTell us what lender is backing this and you’ll know who owns Scott Largent!
George Hunsucker
Northland
1 year, 1 month agoand then act “surprised” when businesses and high-earners leave Chuck…
Libs as demonstrated by the above want nothing to do with PERSONAL RESPONSIBILITY. They much prefer “rules” that either bureaucrats, or in the case of phil, lawyers can “fix”….
Phil Cardarella
1 year, 1 month agoGeorge:
Does this mean you agree that drugs should be decriminalized, abortion should be legal and gays free to marry? After all, each of those things is far more important than being able to borrow money to hit the slots, right?
Or is that too much PERSONAL RESPONSIBILITY for ya?
George Hunsucker
Northland
1 year, 1 month agodrugs yes, abortion already is legal last time I checked phil, gays can have all the civil unions they want, MO’s constitution says marriage is between a man and a woman, not a man and his horse or dog or another man, whatever the case may be.
PERSONAL RESPONSIBILITY does not mean cramming your social views down my throat..
Mark Hastert
1 year, 1 month ago“PERSONAL RESPONSIBILITY does not mean cramming your social views down my throat..”
Read more here: http://voices.kansascity.com/entries/missouri-bill-bad-bet-gamblers/#storylink=cpy Then we’ll thank you not to do it.