Fred Quinn: The lessons from video poker

Posted by Kendall Harmon

South Carolina had more than 7,500 licensed gambling locations. This number was much higher than Nevada, and the city of Columbia had more licensed locations than Las Vegas. There were more than 37,000 licensed video poker machines — roughly one for every 100 people in the state.

The gambling industry was taking in a reported $3 billion a year.

The money came disproportionately from the poor: In a 1997 survey of video poker players, 48 percent reported making less than $20,000 per year.

The cost far outweighed the gain....

Read it all.

Filed under: * Culture-WatchGamblingLaw & Legal IssuesPoverty* Economics, PoliticsEconomyPolitics in GeneralState Government* South Carolina

Posted July 28, 2010 at 7:00 am [Printer Friendly] [Print w/ comments]

1. Br. Michael wrote:

Gambling, to include lotteries for “education” is a sick and perverted way for the state to raise money.  The appetite of the modern welfare state for revenue is bottomless.

July 28, 7:59 am | [comment link]
2. Larry Morse wrote:

Why is anyone surprised?  Yet ANOTHER epiphany, that gambling damages the poor, and that it is socially undesirable. Whodda thunk it?
Why do we have to keep reinventing the social-effect wheel? Larry

July 28, 8:34 am | [comment link]
3. Grandmother wrote:

Apparently, gambling is bad, UNLESS the state controls it..
I’ve never understood how a state that caused such an uproar, and cost the state about 3Million in income from the licenses for Gaming Machines could turn right around and start a state lottery.. but there you have it…........

July 28, 1:00 pm | [comment link]
4. robroy wrote:

Stupidity tax.

July 28, 2:56 pm | [comment link]
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