Cons About Gambling
Disadvantages of Gambling. Gambling Addiction – This is arguably the biggest disadvantage of Gambling. Addiction to anything is problematic and gambling even more so owing to the high risk factor in the activity. A person can end up losing all of their lifelong earnings and be left broke. Many people debate about banning gambling on the bases of moral issues as well as restricting freedoms from people. Gambling is like a harmful drug that cause gamblers to suffer from financial ruin, depression, and loss of family morale. Gambling has a high. Gambling systems are usually for casino games, but some sports gamblers use them as well. Learn more about sports gambling systems.
This tremendous tax revenue could be just what California needs to survive its current struggles from the pandemic. Maybe, just maybe, the dollar signs will win out and gambling tax revenue can start supporting California
California residents have a few good options when it comes to gambling in their state. Unlike several other states with much stricter laws around gambling, Californians currently can enjoy cardrooms, Native American casinos, the California State Lottery, pari-mutuel wagering on horse racing, and charitable gaming. Commercial casino-style gaming, however, is presently still prohibited.
But what about online gambling in California? This emerging market has opened up in many places, bringing in much-needed tax revenue and bolstering struggling states during the COVID-19 epidemic. Stuck at home, many Californians have been looking for a way to enjoy their favorite pastime from a safe social distance, too.
Could we soon see the Golden State legalize online gambling? And what would that mean for California?
New Gambling Laws in California?
In 2018, the Supreme Court struck down a 1992 federal law that had previously banned commercial sports betting in most states. This change opened the door to legalizing the estimated $150 billion in illegal wagers on professional and amateur sports that Americans make every year.
Since this ruling, 22 states have legalized sports gambling, with California contemplating the change but struggling to overcome a number of legislative roadblocks. Two California legislators, however, Senator Bill Dodd (D-Napa) and Assemblymember Adam Gray (D-Merced) have taken it upon themselves to draft an amendment to the state’s constitution that would appear on the ballot in November if it is able to pass both houses.
Social and Legislative Roadblocks
The various players here all have different priorities which tend to be at odds of one another. While state legislators’ agendas favor action, tribal casino and poker room operators see the legalization of online gambling as a threat to their businesses in the state. These groups have continued to lobby strongly against the establishment of any new competitors in what they see as their territory.
Any bill that is proposed requires a two-thirds approval from the state legislature, followed by voter approval in a subsequent referendum. Without a consensus among the warring factions, the approval process will be stopped in its tracks. If history is any indicator, gambling legislation has not had a lot of success in California, making it a long-shot at best, despite the interest from several lawmakers.
Recent Legislative Action in California
That said, the forecast for online sports betting does have a brighter outlook than the potential for any online casino legislation in the near future. The 2018 Supreme Court decision that allowed states to legalize sports betting at their discretion definitely opened the door to making sports betting more mainstream in the US and less of a taboo to legislators.
The recent proposal from Dodd and Gray would allow California tribal casinos and racetracks to offer online sportsbooks and online wagering. “We have a duty to bring illegal sports wagering out of the shadows and support our communities with the revenue,” said state Sen. Bill Dodd. “We can’t afford inaction.”
The first step in the legislative process passed when the Democrats on the state’s Senate Governmental Committee advanced their measure in a 9-3 vote in favor.
Pros for California
California lawmakers are watching neighboring states make the most of recent changes to the law, earning significant tax revenue from sports wagering, and in some cases, from Californians.
Cons About Online Gambling
The tangible benefits of online gambling legislation in California number in the billions. It is estimated that Californians place around $10 billion or more annually in illegal wagers. This money could be harnessed to help combat the $54 billion state budget deficit caused by the catastrophic economic hit the state has taken due to the COVID-19 pandemic.
John Holmes from NoDepositHero comments: “Legalizing online gambling in California would be a tactical move, following the lead of 22 other states, to aid the state’s budget deficit and effectively decriminalize a popular form of entertainment.”
As written, the proposal would funnel revenue generated from sports gambling (10% and 15% for online and mobile bets) into a general fund and be available to “assist the state in recovering from the health and economic damage caused by the Covid-19 pandemic and to fund priorities related to education, public health and public safety.”
Cons for California
The possible budget boost from legalizing online gambling is still disputed, however. Opponents claim that the income would not come close to supporting the ensuing regulatory costs of such a decision.
Additionally, the state’s influential tribal casinos have banded together to squash debate on the topic for years, maintaining their opposition to a constitutional amendment. They testified to the long list of regulatory challenges that mobile wagering would face, such as how to identify and prevent minors from gambling, how to identify and assist problem gamblers, and how to effectively police against unauthorized and suspicious transactions.
Whether or not these challenges can be addressed by the recent amendment is yet to be seen.
Changes on the Horizon?
Significant legislative change related to online gambling in California still faces a lot of opposition and hurdles to overcome in the near future. Supporters of legalization, however, say that legalized sports gambling could generate $200 million in new revenue in the first year with the potential for $500 million or more in additional years as more sportsbooks go live.
This tremendous tax revenue could be just what California needs to survive its current struggles from the pandemic. Maybe, just maybe, the dollar signs will win out and gambling tax revenue can start supporting California.
Gambling in itself is not a bad thing. Some people gamble for fun, while others do it to earn. These are professional gamblers who join tournaments in different places. Whatever type of gambler you are, you are playing a game of luck using a little skill for the chance to tow in a lot of money. But along with the chance to make it big, is the chance to lose as much (and sometimes more). So is gambling right for you? Here are the pros and cons of gambling.
Gambling Pros
What Are The Disadvantages Of Gambling
Gambling is a fun-filled social activity. Elderly people love to go to a casino and other gambling places to have fun. When played in good and dignified sportsmanship, gambling can be a highly enjoyable recreational activity. The thrill of winning is something so exciting and exhilarating!
- Regular gamblers meet together to have fun. Being with friends make winning so much fun and losing … Well, at least you know there are people boosting you up in case you lose. It is because of the fun and excitement that people keep coming back for more.
- Casinos and gambling establishments provide work. The growing number of casinos popping up every now and then means more employment opportunities for people looking for work.
- Gambling in casinos brings revenue. The best casinos out there make great tourist spots, as if Las Vegas isn’t proof enough. Visitors like to try out the local casino and other gambling venues just to know if they are lucky while in town. Because of this, there is a greater influx of income for both the casino and the community.
Gambling Cons
Excessive gambling can become a serious problem. Many people find themselves financially depleted because of gambling addiction. Couples separate because one or both partners take gambling too seriously, and pay heavy prices for their addiction.
This addiction, popularly known as problem gambling, is the main reason why gambling is put by many in such bad light. Another reason why gambling is getting a negative image is the fact that it is associated with money laundering and organized crime.
A number of communities, particularly the religious sector, has a deep dislike for gambling because of the associated cons. However if one looks past the prejudice and see gambling for what it is, it is easy to see that the pros and cons of gambling are ultimately dependent on the player. It is just like alcohol. Although drinking alcohol is not necessarily a bad thing, but having too much to drink becomes bad.
At the end of the day, the pros and cons of gambling and its effect is defined by the player’s control over his gambling habits.