Stop Predatory Gambling

Predatory gambling supporters lose one of their products

by spgadmin

A candidate for Massachusetts governor recently said a key part of his platform will be to promote more predatory gambling in the form of legalized sports betting like Delaware did.

Yet according to a news report today: “A federal appeals court on Monday dealt another body blow to Delaware’s plans for a new sports betting lottery, saying it must be limited to parlay bets on professional football games.”

The ruling declared the lottery can only allow parlay bets which means bettors can pick the winners of at least three separate NFL games in a single wager. It’s more commonly referred to as a “football card.” Delaware state officials were aiming to legalize individual wagers on all games including NCAA contests.

Instead of promoting a business model that relies on 90% of the money coming from 10% of the people who use the product and pushes people into deeper levels of personal debt, perhaps government and candidates for public office will now consider offering products that encourage people to save money so they can accumulate the capital they need to live the American Dream.

The era of phony prosperity, casino capitalism and Bernie Madoff-style “something for nothing schemes” is over.