Eternal Betting
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7 responses to “Eternal Betting”
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Has anyone looked at the Federal Reserve Bank of Richmond Working Paper May 2023, No. 23-07
The Economic Impact of a Casino Monopoly: Evidence from Atlantic City?
Given the fact that Richmond is heavily urbanized and not in a casino monopoly situation,the chances of long term benefits are not great, especially beyond the first five years.“Literature Review
There is an extensive body of literature about the negative social and health impacts of casinos on host regions such as problem gambling (Walker, 2013), crime (Friedman et al., 1989; Albanese, 2019), and drunk driving fatalities (Cotti & Walker, 2010). Additionally, negative local economic consequences arising from casino development have been studied such as reduced household wealth (Barron et al., 2002) and housing prices (Huang et al., 2018). However, while several studies measure the positive local economic impact of both tribal and commercial casinos (Garrett, 2004; Lim & Zhang, 2017; Wenz, 2014), few utilize robust causal inference methods or event study designs for identification.”
https://www.richmondfed.org/-/media/RichmondFedOrg/publications/research/working_papers/2023/wp23-07.pdf -
You know how hard it is to legally place a bet in Virginia?
1. Download the FanDuel app (or one of the others) and bet away.
2. Walk into a store and buy a lotto ticket.
3. Set up an internet horse race betting account, watch the races on the dedicated cable TV channel and bet away.
4. Go to Colonial Downs and bet live racing.
5. Find a place with Historical Racing Machines and bet away.
6. Take a 2 hour bus ride from Richmond (or a 5 minute water taxi ride from Alexandria) and go to MGM just over the Wilson Bridge in Maryland. Plenty of regularly scheduled buses go from Richmond to MGM and back every day.
7. Drive to Charlestown, WVA and bet in the casino there.What happened to Prince George’s County after the MGM Casino opened?
After just one year of operation it was being described as a “jackpot” for PG County.
This is where I break with Republican so-called conservatives.
Where is your interest in smaller government with fewer regulations?
Where is your sense of personal freedom?
Where is your goal of lowering mandatory taxes by substituting optional taxes?As for the bogieman of monied casino advocates spreading some payola – welcome to The Virginia Way. Dominion has been doing it for years. And you have to buy electricity (and, for most people, from Dominion). Nobody makes you ever step foot in a casino/.
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Put the casino on Monument Avenue. A fitting tribute to the new Richmond which intends to plunder its weak-minded citizens even further.
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Interesting to note that the development partner, Urban One, received a delisting notification from Nasdaq yesterday. https://urban1.com/urban-one-investor-relations/. Hardly a stable, confidence inspiring sponsor, even if you are a supporter of the casino initiative https://urban1.com/urban-one-investor-relations.
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It’s a sucker’s game. The House always wins. And this type of economic “development” comes with a lot of fleas. It will make things worse. Mark my words.
Sane people of Richmond – can somebody please step forth and just state the truth? The government is awful. Levar is a grifter. The schools are terrible. Having babies out of wedlock is a bad thing – spiritually emotionally and economically. As opposed to SEL indoctrination, try Judeo-Christian norms which worked until the govt decided to “help.” I don’t care if the truth speaker is white or black, just start speaking it!
People in the black voting farms who your politicians and public servants don’t really care for (as long as you “vote” for them), insist on a change. Schools that work. Cooperate with the police. Make the neighborhoods safe. Have your kids in a stable marriage. It’s not going to get better until you insist on it. All the other people, white and black, who don’t live in the rot, you’ve got to do your part to stop it. Preachers – preach the Truth…
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Let the dead bury the dead.
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I wonder what they are going to promise the dead people already buried in that cemetery for their votes.
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