This article from Deseret News details how seniors are affected by going to casinos. Seniors are often one of the most vulnerable groups to problem gambling, with some studies finding that up to 70% of seniors have gone to a casino in the past 12 months, with one in eleven having bet “more than he or she could comfortably afford to lose.” Once these seniors get sucked into a casino, many find themselves unable to leave until they have drained the savings on which they depend.
Predatory Business Practices
The rise of penny slots
The name “penny slot” implies that these machines are essentially harmless- after all, what use is there for one penny? However, these machines, which are rapidly growing in popularity, garner huge profits for casinos at the expense of players. These machines attract mainly lower-income players, lured by the idea that one penny can net them some extra cash. Most “penny slots” actually require you pay more than 1 cent per play, with some requiring 25 or 50 cents, and others requiring bets of over $1. Players put more than $500 million into penny slots in January alone, and given the high profits they give to casino owners, casinos are starting to install more and more of them. This article, from the Press of Atlantic City shows how one penny can cost gamblers a lot more than you might think.
80 years of slot machine trickery
This article, dated December of 1932, over 80 years ago, explains how slot machines are built to make players lose, and it still remains true today. It not only goes into detail as to how these machines mathematically cheat players out of their hard-earned cash, but it serves to show that these machines have been swindling players out of their money for generations.
Poulos v. Caesars World: A Battle over Corrupt Business Practices
This article details the court case Poulos v. Caesars World, where Caesars World, a casino corporation, was sued for “a course of fraudulent and misleading acts and omissions intended to induce people to play their video poker and electronic slot machines based on a false belief concerning how those machines actually operate, as well as the extent to which there is actually an opportunity to win on any given play”. This legal battle of the business practices of Caesars World casinos shows the extent to which players can be swindled into losing large sums of money on games that are deigned for them to lose.
Addicts make up nearly 50% of Alberta’s gambling revenue
A study from the University of Lethbridge shows that in Alberta, the Canadian province that gets the most revenue from gambling, addicts fund nearly half of the gambling profits. This is especially astounding, considering gambling addicts make up only 2-3% of the population, leading to what researchers call an “ethically problematic” situation.
Illinois Lottery gains overwhelming majority of revenue from poorer areas
This article by The Chicago Tribune outlines how poorer neighborhoods are bringing in the stark majority of sales, showing that the most disadvantaged in the Chicago community are often the most exploited by the lottery.
2013 IL Lottery – poorer neighborhoods bring in most revenue
18 ways that state lotteries prey on the poor
Business Insider spotlights 18 ways in which lotteries prey upon America’s least favored.
10 reasons why lotteries are bad for the economy
This article from Salon.com outlines the ten strongest reasons why state lotteries hurt the economy and the poor. It explains how lotteries not only hurt those who play, but also hurt local business and help foster crime.
Lottery tickets may soon be purchased with credit cards
A recent rise in online gambling has caused some states to allow consumers to purchase lottery tickets online. However, as this article explains, this allows problem gamblers to rack up huge amounts of debt more quickly and more easily.
Report Investigates How Seniors Are Impacted By Regional Casinos
Amy Ziettlow investigates how the ubiquitous electronic gambling machine absorbs the time and money of many seniors, while exploiting their loneliness, idleness, and boredom.