Casinos Not So Evil In A Severe Recession

Its seems that tough economic times and resulting government woes in balancing budgets is leading to a rethink by many former ardent gambling opponents on their opinions of the ills of casinos and sports betting.

State governments across the US are struggling to balance budgets amidst collapsing tax revenues and efforts to stimulate their economies. According to the National Conference of State Legislatures (NCSL), nationwide, states will need to slash expenditures by a further $62 billion to make current budgets balance, on top of the $40 billion already cut. In 2010, a combined state government deficits will amount to a staggering $120 billion.

To say that governments, both state an federal are scrambling for cash is an understatement. And in an environment in which raising income taxes is both counter to conventional economic stimulus wisdom and very unpopular with constituents, gambling tax revenues are being viewed by an increasing number of lawmakers as an ace up the sleeve that now must be played. Of course this requires an about face on any previous moral and ethical objections held against gambling, but principles are often very fluid in politics.

As admitted by Democratic Rep. Peter Kocot to the Boston Herald, "I have been an opponent of casino gaming ... but the territory we're in right now is unprecedented in terms of the budget. With the situation in such a great state of flux ... my mind is open."

And minds of lawmakers all over the country have been opened it seems. In Iowa 2 new state lottery games have been introduced, in Kentucky slots are being added at racetracks, in Maine casino gambling hours have been extended to include Sunday morning, Illinois is considering online sale of lottery tickets, Pennsylvania is considering allowing slot machines in bars, and a number of states are petitioning for exemption from Federal legislation placing restrictions on sports betting with an eye on tapping the estimated sports betting revenues. The list goes on and on.

In view of the apparent change in attitudes toward gambling sweeping the US, it may just be that new legislation proposed by Barney Frank, combined with Jim McDermott's associated gambling tax revenue bill may just receive bipartisan support. When it is considered that current laws do not stop Americans who choose to gambling online from doing it anyway, the Government may well decide if they can't stop it, they should at least get a piece of it.