Fewer and fewer gamblers have been losing money in Atlantic City casinos, costing the state tens of millions of dollars in tax revenue. So how has New Jersey Gov. Chris Christie responded? By double down on gambling.
Christie signed a bill that will allow residents to gamble via the Internet. In effect, New Jersey residents will have access to a virtual casino, enabling them to gamble when and where they want via their mobile telephones, laptops and iPads. The move comes as Christie is also pushing to allow betting on sports in Atlantic City and the casinos are allowing customers to gamble without leaving their hotel room.
The upshot is this: Gov. Christie wants New Jersey residents to lose more money by gambling. In short, the state wins if residents lose more. In effect, Christie is betting against his own people. How Christie can think this is a good public policy boggles the mind.
Sadly, Christie is not alone. More and more states are pushing gambling as a way to generate tax revenues to fill budget holes. The long-term impact is a public policy built around trying to get residents to lose more money by gambling. Studies show that those that gamble the most are the often the ones who can least afford to lose: the elderly, poor, working class and minorities.