Casino Watch Focus has reported on the various impacts Covid-19 is having on the gambling industry. All across the country, casinos are being closed, alongside other businesses, as stay at home orders are in place to prevent the spread of coronavirus. Obviously this has lead to a sharp downturn in the economy and the government has responded with economic stimulus checks. One group is wisely suggesting to state legislators to temporarily suspend their lotteries to help ensure that money can be spent on essentials, and not sent back to the government through state funded gambling. An online source reports:
Stop Predatory Gambling, which has been a familiar face at online gambling hearings on Capitol Hill over the years, on Monday sent a letter to governors of states with lotteries. SPG National Director Les Bernal said in his letter that federal relief money sent to families could be used to “subsidize state lotteries.”
Bernal called for lotteries to temporarily shut down by arguing, in part, that people shouldn’t be able to spend their stimulus checks on that form of state-sanctioned gambling. Casinos across the country have closed, sports betting has come to a near standstill, and only four states have some form of legal online casino gaming. That has left the lottery as the only widespread form of gambling still active.
“We are writing to call on you to immediately shut down the marketing and selling of all state lottery gambling games until the financial turmoil caused by the coronavirus has passed,” Bernal said.
Such advocacy is solidly grounded as those with the least economic ability tend to be the ones to spend the most on the lottery. Les Bernal addresses these issues in a press release that accompanied the letter:
As part of its letter to state officials, Stop Predatory Gambling included its 2020 Briefing on State Lotteries also issued on Monday. The report spotlighted lotteries as one of the root causes why more than 60% of Americans had less than $1000 in savings before the coronavirus pandemic occurred.
The report found “state governments have turned a nation of small earners, who could be small savers, into a nation of habitual gamblers on course to lose more than $1 trillion of wealth to government-sanctioned gambling over the next eight years. At least half of this wealth – $500 billion – will be lost to state lotteries.”
Bernal hopes the lottery shutdown and the new report will bring sorely-needed attention to “America’s most-neglected problem today.”
“Building assets and the accumulating and investing of savings, are the keys to financial peace,” Bernal said. “A home, a college fund, retirement accounts, a stock portfolio—these assets are the hallmarks of middle and upper class America, and they are all the result of savings. Creating wealth by the accumulation and investment of savings is the direct opposite of what state lotteries represent and encourage.”
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