Wednesday, November 17, 2010

Poker pearl #53

The Economist is a well-respected weekly magazine with world news, politics and business/finance.

A friend who knows I play poker gave me a copy of a special report from The Economist. They explored different aspects of gambling, including the lottery, horse racing and poker. One section said:

"People will keep on betting, legally or illegally. It makes sense to tidy up the rules."

The Economist went on to say:

"Gambling will always draw opposition on moral grounds . . . . Opponents say it encourages addiction --- a disproportionate amount of revenue comes from frequent players.

"Yet arguing that states encourage addiction by legalising, taxing and regulating gambling is akin to arguing that they encourage alcoholism by legalising, taxing and regulating alcohol consumption. Some people bet too much, some people drink too much, but most are capable of doing both in moderation, and the state should not stand in their way."

1 comment:

  1. Kept within reason, money lost can be considered entertainment money. I should know.