Online Casino Edition – Casino News News about online casinos and gambling

It seems that Chicago, Illinois, may be getting a casino very soon. The newly revise plan was pitched at a meeting. And the biggest support that they are aiming for come from Democratic Governor Pat Quinn.

There are already plans to add five new casinos to the Chicago area. But the difference with this one, is that it will be larger than anything that has come before. The plans for this casino is to have 10,000 betting position placed inside.

Now there are already arguments against it. Some have said that the market is already saturated with casinos and other gaming sites. There are even video gambling sites set up at local bars and various truck stops.

Still, those that are pushing through with these plans, are refuting these claims. But there could be other issues on the horizon anyway. Some are saying that this proposal may not even make it. Some lawmakers have even gone on record, by stating they want t piece of the pie. And it’s been reported that they won’t agree to it, unless they do get a piece of the action.

Gambling is a big thing in so many areas across the country. It’s become so big that it can’t be ignored. Gambling is a part of everyday life. Still, pushing for something like this is going to be even more difficult now. It’s been stagnated for 5 years and with election year coming up, it might be pushed back further. But, according to some, you can’t ignore the numbers.

Some officials have even said that there is a budget cliff that needs to be watched. One of these budget concerns is the temporary income tax hike. This expires on January of next year. If nothing is put in it’s place, then chances are slim that the money won’t be there for the casino.

The mayor is already pushing for another tax increase to help out with the pension cuts in the schools. So the question remains, will there be enough money in the budget to help push through the new casino plans?

According to the new plan, it will. The money that the casino makes will be split between city and state. The city can use the money for pension and educational expenses. The sate can use the money for education and construction.

As of now, the mayor doesn’t really wish to talk about the new casino plans, that is until the pension issue is taken care of.

The casino bill itself is aimed at winning the approval of Quinn. In the past, Quinn has not been supportive of the efforts to bring in new casino businesses. Once change would be that the state would own the casino. That would mean more control over the casino revenue, and how it is spent.

The city has also questioned the size. As of now they are offering an alternate proposal. This proposal would cut down the size, making it like the other casinos are now.

Alright so I won’t be giving you specifically a penny, but if you have ever gambled you know how fast your paycheck can go. With the power ball games in the news regularly when their jackpots hit huge numbers, and now a March Madness gamble that the odds of winning are next to impossible, I figured it would be worth discussing modern gambling trends. Especially since there is a recent push to regulate the gaming industry in several states like Florida and California. More importantly there is the bitcoin trend that is unregulated so gambling regulators are trying to figure out what to do about them.

We all know the amount of money gambling establishments make, but the simple fact is that it is a high risk industry so and a high reward payout for the very few. We have read the odds and know that whether we are playing black jack, the local lottery, or sitting at a slot machine, that we are unlikely to leave with what we started with. If this is such common knowledge why do we keep going? Why hasn’t the casino gone out of business yet? Is there really that much hope that at some point we will actually leave a millionaire?

The Reasons we Gamble

I know the excuse I use is that a portion of the proceeds from gambling in my community, a tiny portion, goes to public education, so I justify my spending by believing that even though I am wasting money at least I am still supporting public education. Some casinos offer incentives for you to patron them, so we have an excuse to go on a romantic date and still spend money. Even people who don’t gamble will go to a casino offering a spa or golf weekend to enjoy some type of a getaway.

There is a social concept to gambling as well. What do you think bingo is? That’s right, gambling, yet there are whole buildings designated as just bingo parlors. This is a place where people can talk, get to know each other, meet up, have a night or out, or simply just to gamble. In today’s modern world there amount of internet gambling going on is increasing also. The ease of playing games in the comfort of your own home while controlling what you play and how often is becoming more desirable. Not to mention apps on phones and tablets as well.

Why is Society so Against Gambling?

The main reasons people are against the idea of gambling is usually because of personal moral or religious reasons. What is interesting is that gambling is spending money with no guarantee of a return and a high potential for loss. Looking at it that way, isn’t investing in the stock market gambling too? It all depends on your viewpoint. Gambling can be an addiction for some people causing problems in their life the same way an alcohol or drug addiction can.

Even with so many people being against gambling, it will not go away any time soon. Gambling is quite frankly good for the economy. Casinos and the like employ hundreds of people. Scratch games and local lotteries create millions in tax revenue. Sports books allow you to be a little more personal in your investment with the same employment and tax benefits that casinos and lotteries provide. Don’t forget that most of these gaming establishments require some state licenses to even operate, again increasing state funds.