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Will the big Ohio gamble save us? If not there will always be short sales! :)

I found this article in the National Ledger and I really wish people would have been able to see this information before our last elections. Finally after so many years of trying we managed to get those casinos we’ve always wanted in Ohio and God bless us. We didn’t just allow casinos… we changed our constitution so that a few few rich and powerful folks could have a monopoly on casinos.

Is Ohio gambling with the devil?

Is Ohio gambling with the devil?

It is true that building casinos will give us an immediate cash boost in our economy however according to the researcher sited in this article there will be a high social cost in newly minted compulsive gamblers… and many of those gamblers with a taste for the highlife will then choose to take their money out of town to more touristy places like Vegas once they get the taste for it here. The researcher quoted in the article said that the average compulsive gamble has a social cost of $10,000. I don’t know if that fully negates any economic benefits… but it doesn’t sound good. It is also pointed out that in order for casinos to really be profitable they need to have a lot of visitors from out of town. Yet our state is surrounded with other states that already have casinos and those casinos will do everything they can to lure gamblers back to them from Ohio making it difficult to be profitable.

I think if we really want to compete with Vegas though, we should legalize the brothels as well.  That will bring even more money, destroy more families, as well spread STD’s which don’t really matter as long as our economy is booming (I am being sarcastic).

Maybe these casinos will give our local economies a quick boost now. I suspect though that I may end up having to assist a wave of compulsive gamblers 5 years from now as they are losing their homes to foreclosure.

My favorite quote regarding gambling is from Dave Ramsey: “Gambling is a tax for dumb people.”  Unfortunately most of the dumb people tax goes to corporate deep pockets and not to education and it at the same time it ultimately will take it’s toll on children in families affected by compulsive gamblers.
Andy Morris is an Ohio real estate broker with an expertise in selling homes on a short sale. If your Ohio home is heading towards foreclosure or you owe more than your property is worth, please call Andy at 888-4-STOP-IT to see if you qualify for a short sale with your lender.

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