Monday, February 2, 2009

Rehctaw Wonders -OR- What are the odds?

I'm not much of a gambler. The attraction escapes me for almost all aspects of the pursuit. Like hedge-fund management, commodity trading or derivative dabbling , I guess there is an opportunity for stunningly rich paydays, but the underlying need to attain those paydays through dint of depleting the coffers of the other players, while supporting the house, takes the fun out of it for me.

Clearly not everybody feels the same way I do about this.

Legal gambling is a $600 billion dollar industry that generates $60 billion in reported revenues for its operators. The $540 billion difference between gross and net holds a number of winners and a MUCH larger number of losers. When you include illegal gambling eclipsing the TRILLION $$$ total is child's play.

Obviously it is a successful business model.

Should it be adopted as fiscal policy for the Untidy States of Amurica?

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