Our Democracy’s Hypocrisy? You can bet on it

In July, moments before the 109th Congress recessed, the House of Representatives signed a bill (317-93) that is the most serious attempt to eliminate online gambling. To make sure that the law would be enforced, the resolution took aim at the institutions that makes online betting work: the credit card companies (the online institutions are all headquartered outside of the US, even though half of their customers are American). You can’t bet online without using the plastic, and credit card companies would be subjected to heavy fines if they allowed their holders to make bets online.

This could be the end of virtual poker games and online sports betting.

As we always do on Patriot of ’76, let’s look at both sides of the argument. Online gambling makes betting your savings away that much easier, which can foster addictions and create major financial problems. It’s terrible that a person can throw their money away in the vain hope of becoming an instant millionaire….

PO76 has a few questions: 1) What hotel do you recommend staying at in Vegas (can’t afford Wynn yet)? 2) What is the little lotto jackpot at right now? 3) What horse or dog track is within driving distance?

It seems like the when the government can regulate (i.e. Tax) a betting institution, it has no problem allowing it to flourish. Does the government ensure that people aren’t addicted to gambling before they’re allowed to buy lotto tickets? Does the government make sure people can afford to lose before letting them double down on elevens at the blackjack table, or by taking “Santa’s little helper” in the fifth?

It seems like in these instances, Americans are given the freedom of how to spend their paychecks. If you take your money to the track or to the craps table, you know there is a substantial chance that you will be making a donation to the “house”. So why can’t you get that same freedom in front of your computer?

According to Christian Capital Advisors, the online gambling industry brings in about twenty billion dollars per year. Remember, all of those institutions are headquartered offshore (mostly Jamaica, United Kingdom, and the Bahamas). If Uncle Sam can’t get a slice of the pie, then nobody can play.

Let’s address the bigger picture. Congressman and Senators believe that gambling is dangerous, and if people can’t gamble online than perhaps they’ll turn their attention elsewhere. How can this line of reasoning work when there are so many other ways for someone to bet that are completely legal?

In 1918, the 18th amendment was ratified, which made the production and consumption of alcohol illegal. Speakeasies and smugglers flourished, and the 21st amendment conceded the fact that enforcement of prohibition was impossible. If online gambling becomes illegal, perhaps our new speakeasies will be our neighbor’s basement, where the buy in is one hundred dollars and the dealer calls the ante.