10 Reasons Why Internet Gambling Is A Bad Bet

On December 23, 2011, the Justice Department – with no public input or Congressional involvement – issued a legal opinion reversing the federal ban on Internet gambling, exposing participating States to money laundering, terrorism financing, fraud and other criminal activity, participation by minors, exploitation of individuals with a gaming addiction and the impact on jobs and economic activity.

1. Internet Gambling is Not a Viable Revenue Source

Internet gambling has failed to deliver the promised revenue in states in which it's been legalized. Revenues in New Jersey, the largest state in which Internet gambling is legal, is on track to miss revenue estimates by more than 80%.

2. It Leaves America Vulernable To International Terrorism

International terrorist organizations are constantly seeking the means to move and hide money. A Defense Department study concluded that Internet warfare will be an enormous threat to national security in coming years. Internet gaming will be a perfect conduit for terrorists to move funds for wide scale illegal and hostile purposes.

3. Jobs Will Be Destroyed

More than 330,000 Americans work in the casino industry. Internet gambling, especially if it includes a full assortment of casino style games, will reduce participation at brick and mortar casinos, with a commensurate impact on jobs in lodging, restaurant, entertainment and retail industries which rely on brick-and-mortar casinos.

4. It Will Be Nearly Impossible to Prevent Minors From Gambling Online.

State regulatory agencies will be unable to prevent adults from allowing minors to play on their accounts. States will have little incentive to bar participation by minors living in other states, and could allow college students to gamble online by setting the minimum age at 18 years old.

5. Internet Gambling Will Fuel Money Laundering

Gambling has been a prime target for criminal syndicates to launder money and use for other nefarious purposes. The unregulated Internet environment will attract national and international crime syndicates seeking to increase cash flows and hide capital.

6. Threats to the Public Interest

States have established rigorous licensing and regulatory regimes for land-based casinos, which in turn have implemented and carried out effective policies to promote responsible gambling, bar participation by minors, and assure full compliance with all laws ranging from gambling controls to money laundering to tax payments. Such protections of the public interest are not fully available with Internet gambling.

7. It Targets Children

Internet gambling companies prey on the youth by using cheap, cartoon-like marketing tactics that lure them onto their websites.

8. It Will Impact Travel And Tourism Development

Land-based casinos have always been linked with tourism and economic development. With the ease of gambling from your own home people would be less inclined to travel to a casino. This will impact a major revenue source for these states.

9. It Impacts Vulnerable Populations

Via thehill.com

A 2009 study by the National Institute of Health (NIH) finds that African Americans are nearly twice as likely to be “disordered gamblers” compared to the white population; and low income wage earners making less than $20,000 are five times as likely to have such addiction issues compared to their higher-earning brethren making more than $70,000 per year.

10. Exploitation Of Individuals With A Gaming Addiction

With 24/7 access to the Internet, those with a predisposed gambling problem will constantly be tempted to gamble online.