1 July, 2008 |

Why Revenue from Gambling is a Good Thing

I’m the cynical type when it comes to state-sponsored gambling. What gets sold as an opportunity to raise funds for social infrastructure often comes across looking like a cash grab. However governments choose to fill out their books, the important thing is that revenues do go to a worthwhile cause.

In Illinois, the cause is building. The state’s nine casinos pulled in nine figures last year, or about four percent of Illinois state revenue. However, attempts to open a 10th casino to fund a major construction plan have been rebuffed. The story is similar in West Virginia, where 8.9 percent of state revenues are hauled in by lotteries alone.

The money made in the Mountain State is earmarked for college scholarships, senior citizen programs and the like. But there is concern about West Virginia’s “dependence” on gambling revenues. These are tough financial times for many in the United States, and casinos are going to lose some customers. They’re not the only ones.