"Call them desperate politicians.

The House Financial Services Committee approved a bill last month to legalize online poker and other nonsports betting. Taxes on the winnings of gamblers and the profits of site operators might raise as much as $42 billion over the next 10 years.

Elsewhere, the state of Colorado lengthened casino hours, raised maximum betting limits, and expanded options to permit roulette and craps. Delaware and Pennsylvania are considering allowing slot parlors to become full-fledged casinos. Massachusetts is considering licensing multiple casinos. New Jersey is even thinking about taking over the Atlantic City gambling strip!

The tawdry business of gambling was turned into the glitzy business of "gaming" by millions of lobbying dollars that fostered the illusion of "good jobs" and "good money." Good money still figures prominently in the minds of some Congress members. Rep. Jim McDermott wants the taxes spent on education. Rep. Brad Sherman said, "We will not pass an Internet gaming bill. We will pass a bill to do something very important funded by Internet gaming."

Whatever you call it, gambling produces neither jobs nor revenue. Every dollar spent on a slot machine or Internet poker is a dollar not spent somewhere else.

Moreover, most gambling is done by those who can least afford to lose money. It has numerous hidden costs in addictive behavior, broken homes and financial ruin."

Get the Story:
Jeffrey Scharf, Everybody's Business: Legalized gambling is fool's gold (The Santa Cruz Sentinel 8/8)

Also Today:
Cash-hungry states add casinos, lure same gamblers (AP 8/8)

Related Stories:
House committee approves measure to regulate Internet gaming (7/29)
Mohegan chairwoman to testify at hearing on Internet gaming bill (7/21)