re: Games of Skill - "Casinos" Skyrocketing in Arkansas

my problem is personal.

A member of my family totaled out her credit cards in Mississippi, took her car title to attempt to win back her losses, then even more.

It took her family going to that Casino, dragging her butt out and letting the casino know that she is no longer allowed to enter. Then we placed her in a facility for Gamblers to get help. Which was partially paid for by the casinos revenue...

The social care system in our state is already a joke. Casinos encourage risks, risks from a moral prospective that the majority of people attending the establishment are no wealthy, established individuals. but in stead, those looking for a windfall from their usage.

Leaving the state coffers, social programs at a even bigger disadvantage to take care of the children, health care, etc because these ignorant, poor bastards are hooked on gambling.

Both from a moral, and social standpoint this is one of the stupidest forms of brainwashing I have ever seen. The PR firms behind the gambling establishment are very good at their jobs.

In TX, those corner mart selling the majority of the lottery tickets were in the poorest, uneducated neighborhoods. And we don't care? Why? Because it keeps their money in the state.. Unbelievable. Money they got from the state to begin with, from our tax base. Then we use more of that money to educate them on their addiction supplied by the same state providing their fix.

I counsel with folks in these situations all of the time. I know from first hand experience what it entails. And I have seen the men beaten to a pulp who couldn't pay their gambling debt, their families lose their homes, and their kids placed in foster care. Paid for by???? Taxation from gambling... OMG! The definition of stupidity!

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ignorant, poor bastards are hooked on gambling

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Who doesn't know the risk?

I have heard of people that drive from central Arkansas all the way to one of these border indian casino's. If people are gonna travel that far and want to gamble that bad, Arkansas might as well be where their money goes.

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Who doesn't know the risk? I have heard of people that drive from central Arkansas all the way to one of these border indian casino's. If people are gonna travel that far and want to gamble that bad, Arkansas might as well be where their money goes.

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If they truly knew the risks... many would not walk in the door of these establishments, some others are too uneducated to care.

but, let's say for a bit that I agree with you on the above statement, with one caveat. Place the casinos, the games of chance establishments in the wealthiest neighborhoods in the state. Build these gambling establishments right next door to the Stephens, Waltons, Murphys, Hunts, etc. Then lets see how long they last!

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When this individual isn't gambling, do they have other compulsions which replace the behavior, be it positive or negative? The reason I ask is this: Compulsion disorders aren't usually limited to just one particular behavior, so most times, eliminating one outlet for their "fix" only leads to another type of "fix". For instance, I have an acquaintance that habitually takes pain medicine. He can stop the pain medicine if he starts drinking. He can stop his drinking if he starts spending all his money on something else like gambling and smoking, etc., etc. It's called cross addiction or compulsion. Eliminating one outlet with a lot of these individuals only opens a new door for another compulsive behavior. It's a compulsive disorder and not necessarily limited to gambling. Just curious.

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With the one family member I was speaking specifically about, No! Once we got her help and watched her for a couple of years, she hasn't had anymore problems. She simply loved the enticement, free drinks, buffets, lovefest on the floors of the casinos. It was way too mush for this poor woman to handle and she fell into the trap.

I have seen it in families I have counseled and helped through social services as well. Sometimes, you are correct. It is the addictive personalities of these folks. Other times it isn't until they are continually baited.

Think of it this way. There are buses in LR that will give a free ride, and 20 bucks free play with a buffet to those willing to go! This isn't exactly advertised to again, The Waltons, Rockerfellers, Hunts, or Stephens families now, is it?

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If you invested for a 10% return over 40 yrs it would take you $2,300 a month put away to have $1 Million dollars in year 40. Good luck finding anything besides the stock market that pays a continual average rate of 10% return.


No.

Let's say a kid decides to start saving money at age of 19 instead of hitting up casinos. Say he finds an account to start saving in that is a 10-12% return. He can stop putting money in by the time he is 26 yrs old and he will have over $2 mil saved by the time he is 65.

Invest $2,000=$2,240
20: $2,000=$4,749
21: $2,000=$7,558
22: $2,000=$10,706
23: $2,000=$14,230
24: $2,000=$18,178
25: $2,000=$22,599
26: $2,000=$27,551
Stop putting in $2k
30: $0=$43,352
40: $0=$134,636
50: $0=$418,191
60: $0=$1,298,837
65: $0=$2,288,996

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Yes.

=PMT(10%,40,0,1000000) = $2,259.41

=pmt(rate, nper, pv, [fv], [type])

Tech, do you even know what you are doing with your own math? Please continue to argue against excel and financial equations loaded into every financial textbook.

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As for your comment about putting casinos next to the richest Arkansans...what is that about? What do Stephens or any of the other wealthy Arkansans have to do with casinos?

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Just one of many straw men.

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You could have stopped right there.

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But I didn't, or else your rambling would have become a simple book of proactive financial propaganda for anything and everything that will make money> Boring

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The situation would be different if Arkansas wasn't adjacent to other casino states.

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Well Duh!

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People like your family member are going to have compulsive problems in some area. Gambling establishments aren't the problem anymore than liquor stores cause alcoholism.

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She didn't, but carry on...

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As for your comment about putting casinos next to the richest Arkansans...what is that about? What do Stephens or any of the other wealthy Arkansans have to do with casinos?

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Because the richest, most prosperous people in Arkansas would not have those establishments in their neighborhoods because of the types of people they draw. They are usually placed in areas of lower income, economic development districts to draw the less affluent crowds. Not always, but it is usually the case in the states I have lived.

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I wish you anti-casino guys would just say "I don't want casinos 'cause Jeebus sez no."

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Well, first of all it is Jesus and second, it is against the grain of morality imho. Always seeking gain from another persons losses and not giving a rip what kind of shape it leaves that persons family in. Yep, sounds humane, loving, and caring towards others in a weird sort of way I suppose..
what... the way used to be seeking the best for our neighbors, our friends, our nation. Now... Not so much.. MONEY MONEY!!! even if the cost is another humans dignity. But you go ahead and say it is JESUS!

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Because the richest, most prosperous people in Arkansas would not have those establishments in their neighborhoods because of the types of people they draw. They are usually placed in areas of lower income, economic development districts to draw the less affluent crowds. Not always, but it is usually the case in the states I have lived.

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and...?

"There's good neighborhoods and bad neighborhoods." - RazReverend

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Removing the tempting stimuli per se doesn't usually cure the problem either.

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Hence, my psychology reference on page one. I completely agree about addictions thus allowing attention just to be adverted elsewhere as the core problem still exists.

More good stuff.