The dangerous future of gambling
March began a pandemic for all of us. It wasn’t even close to the top. But for those of us who did well, whose kids were still in school, whose employers needed us every day at work, and who had only heard of the radio coronavirus that drove kids to school as the unbelieving protagonist in the zombie movie, on Wednesday night we really noticed what was going on in our lives.
As Utah Jazz prepared for the Oklahoma City Thunder, news of the match being canceled when Rudy Gobert from Utah tested the virus positive. At 9:30 p.m., the NBA announced the suspension of the entire season. Other sports, including the NHL and NCAA, which have canceled the upcoming March Madness Tournament, said they were considering the following. Nearly every sporting event in the world was canceled or postponed for the next two days, including the Lakers game on Thursday night and the end of the Lakers season. I checked the status of my big future bets that the Lakers won over 50 games this season through your sports betting account. The situation was at rest. I focused on the Lakers record of 49 wins.
I had almost $ 1,000 worth of potential NBA bets on the line that were now in jeopardy. I had hoped to be able to fund a few, and the end of the season would be like a down payment on a house my wife and I had been watching. We had been investing money in deposits and investments for years and counting the days when we could afford to stop renting and join the importer. In an effort to gain his respect, or at least to improve tolerance in the hobby world, I thanked him for my victories, which gave, albeit to a small extent, this opportunity. I felt my progress on this side. But now there is a second floor.
We are preparing for quarantine
We prepared for quarantine as the weekend progressed. I have reserved. Zoom is loaded. I was stuck on TV. We furiously texted our friends and family. However, my passionate messages were not the same as my wife’s. One of my friends, a professional gambler and single mother, wrote to me that if the casinos close, she is likely to quit without money and cannot claim unemployment benefits. Rufus Peabody and Spanky, two professional sports bookmakers who both attended the Sloan Sports Analytics conference, reported falling ill. (Rufus later tested for a positive coronavirus; Spanky was sure he had it, but had quarantined himself in testing centers.) And the guy who ran the poker game I went to in the back room of the local pool hall told me he was good and asked if he had been playing on Saturday night . I wrote back that I didn’t consider it a good idea. In response, he sent me a picture of a package of latex gloves and hand detergents. The text read “If Resorts Play, We Call” online casino.
Gambling is a dream for most of us, especially non-avid gamers. It’s a bit of a bet and a profit. It is an opportunity that is not based on merit, but on happiness, the gods who spray us with the happiness we need for the hour we need. It’s irrational, but so it is in America.
The closest legal poker room to New York is Resorts World Catskills in Monticello, New York, and it stayed open on Saturday, as did almost all U.S. casinos. Las Vegas Wynn, meanwhile, has revealed it will close next Tuesday and become Nevada’s first casino. On Monday, almost every commercial casino in the United States would have followed suit, including Resorts World.
According to almost all reports, the coronavirus can have a devastating human charge. It is possible that tens of millions of people will be infected. Hundreds of millions of people could be lost. Only persons directly infected with the virus are included in these figures. The indirect effects of an economic toll can also be fatal. Millions of people are losing their jobs and their health care. Poverty is on the rise. On March 21, the governor of the Central Bank of St. Louis estimated that unemployment could rise to 30 percent and GDP to 50 percent. These are foreign forecasts. If they occur and the epidemic is not limited to the point where economic activity continues, they have a good chance and the country will face a similar catastrophe as the Great Depression. Gambling growth in the United States is ironically the fastest during the Great Recession. Legalized gambling has become a popular way for states to raise much-needed tax revenue.