I've probably used the photo above with another post at some point AND it has nothing to do with today's topic, but it looks so pretty that it makes me happy. I hope you have the same reaction to this stunning sugar magnolia we have on campus.
If you're reading this post in the United States on the day it goes live, today is tax day, which started me thinking about how people spend their money and where it all goes. And that topic got me thinking about how many people in this country are addicted to gambling.
With such easy, online access to gambling sites, it seems that more people than ever are betting more money than ever. The most famous gambling debacle was probably the Black Sox scandal in 1919, but in October of last year, there was another huge news story about illegal gambling in the NBA. The more recent case led to thirty-four indictments and arrests in eleven states.
I understand the thrill of placing a bet and waiting to see how my predicted outcome plays out, and I'm lucky that the minor thrill I get from the anticipation of trying to win doesn't outweigh my understanding of the economics of gambling. Of course, overall, the house always wins, which is why casinos and OTBs, etc, don't merely stay in business. They thrive. The lottery is a huge money-maker for most states because, overall, way more people lose than win.
To be clear, people who want/need more money should find other ways to procure it than betting. That said, if people enjoy the titillation of placing a bet, they should consider how much they're willing to pay for the excitement. Thinking of betting the same way one thinks about entertainment might help. How much are you willing to spend on going to a movie, seeing live theater, or attending a sporting event? You get to enjoy admission to those venues when you're willing to pay the ticket fee.
I encourage people to think of betting in those terms. And for the love of all that's good in your life, decide how much you're willing to give over to placing bets before you're caught in the heat of the moment. Don't ever spend more than you originally planned to because you think the next bet is going to be a winner. It won't.
Please share your responses in the comments.
I don’t understand why state governments stop at promoting gambling. Why not promote alcohol too and cigarettes?
Good point. Yes, we have some laws in place to protect people and others that actively harm and take advantage of them. It doesn’t make sense!
I agree Pattie. They can collect taxes on those too!
Sad that our government has learned how to take advantage of human weakness rather than trying to improve people’s lives!