Sports Betting

The issue of dischargeability of gambling debt grows in severity

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With the increasing pervasiveness of government-sponsored gambling, the issue of the dischargeability of gambling debt has become very significant. The attached report by two U.S. Trustees of Indiana highlights several major problems including how one research group suggests that about 10 percent of bankruptcy filings are linked to gambling losses, 20 percent or more of compulsive gamblers are forced to file bankruptcy because of their losses, and upwards of 90 percent of compulsive gamblers use their credit cards to gamble.

GAMBLING ON DISCHARGEABILITY: Casino debt collection practices

LesThe issue of dischargeability of gambling debt grows in severity
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The libertarian argument against government-sponsored casinos

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“When the state joins forces with private industry in order to sponsor and propagate an old human vice, the results can devastate both civic life and, in the long run, the civic purse as well.”  This is the conclusion made by author Harvey Silvergate after a visit to Atlantic City with his son. His libertarian values would, one would think, compel him to support as many casinos as the free market would support. However, this visit to an Atlantic City casino showed him the despair which problem gamblers feel as they drain their savings in slots. The surrounding community, with its old, rundown, dilapidated buildings further convinced him of casinos’ harmful effects. Ultimately he makes the conclusion that this is not so much a private business as it is a government-sponsored industry that causes social dislocation and poverty. The story he tells is gripping and the poverty he describes is palpable. The article is a must-read for anyone looking into the issues of government-sponsored casino gambling.

Libertarian angst- My problem with casinos and slots

LesThe libertarian argument against government-sponsored casinos
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Italian mafia uses German online gambling sites for money laundering

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This article from Deutsche Welle examines the use of German online gambling sites by Italian mafia members for transferring money made by human trafficking and drugs into legal circulation. Due to unclear laws, the police are powerless to stop the situation, as more and more illegal money exchanges hands over the internet. A prominent Italian lawyer described the “unbelievable” sums of money flowing through internet gambling, which could total almost $2 billion.

Online gambling- Playing into the mafias hands

LesItalian mafia uses German online gambling sites for money laundering
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Report examines how gambling research is funded

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This extensive report by The Goldsmiths Report details the ways in which gambling research is conducted  and funded and identifies a need for more unbiased reporting. It provides an interesting look into gambling research and how it can be tainted by the influence of money or lawmakers who are supported by the gambling industry, and is a great read for those interested in how certain influences affect gambling research.

2014 Fair Game – Funding Gambling Research

LesReport examines how gambling research is funded
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Report shows staggering costs of problem gambling

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This report, by The Victorian Competition and Efficiency Commission, estimates the cost of problem gambling to be as high as $2.8 billion in Victoria, Australia. Excess gambling by problem gamblers accounts for up to $1.4 billion of this, with the rest coming from the intangible costs for problem gamblers’ mental health and familial stability. This article by The Age summarizes the report’s findings.

2013 Cost of problem gambling could be as high as $2.8b- report

LesReport shows staggering costs of problem gambling
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Gambling winnings, even when offset by losses, cost seniors more than you would think

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This article, from The Wall Street Journal‘s “Market Watch”, shows how gambling winnings can cost seniors dearly when tax day comes. Even if they are balanced out by losses of the same amount,  certain tax rates can skyrocket, leaving seniors to pay extra. Using a real example, the author shows just how much gambling can cost.

2013 Gambling tax hits SSA payouts — even when you lose

LesGambling winnings, even when offset by losses, cost seniors more than you would think
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Gambling is the deadliest addiction

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Below is one of the best analyses explaining why gambling addiction has the highest rate of suicide of all the addictions. The psychological effects of problem gambling can be extremely harmful, and the feeling of despair that comes with gambling away all of one’s money is toxic. This article by The Fix is a must-read for anyone looking to understand why so many gambling addicts consider taking their own lives.

2012 You Bet Your Life- Gambling Addiction and Suicide

LesGambling is the deadliest addiction
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Lottery tickets may soon be purchased with credit cards

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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.

2013 Buy Lottery Tickets with a Credit Card

LesLottery tickets may soon be purchased with credit cards
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Facebook online casinos entice young people to gamble

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The UK’s MailOnline reports online gambling giant 888 has struck a lucrative deal with Facebook to offer Las Vegas-style slot machines and other games funded by credit and debit card transactions up to £500 (roughly US $761).  Facebook and its gambling partners have been training youth with slot and bingo-style games. The Mail quotes Mark Griffiths, professor of gambling studies at Nottingham Trent University citing research showing that playing free games online is a big factor in developing problem gambling. He warned the new apps will open the floodgates as “gambling companies dive into the social media frenzy to make money. It is thought Facebook will take a 30 percent cut of all bets placed.”

These free games are available to US customers as well. Online game giant Zynga for months has featured intrusive popups and ads pushing their slots and poker games in their ubiquitous “Words with Friends” blockbuster game.

Social network is tempting young to gamble with new betting games

CkirbyFacebook online casinos entice young people to gamble
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Health Impacts of Gambling Expansion in Toronto

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Toronto Board of Health has released a new report that explains, in part, that “problem gambling is a significant public health concern … impacting upwards of 11,000 people aged 18+ in the greater Toronto area.” This disturbing statistic is among many that the Board finds, as the seriousness of problem gambling grows as casinos and online gambling expand.

2012 City of Toronto Public Health Report

LesHealth Impacts of Gambling Expansion in Toronto
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