Do you feel lucky? Do you? Almost everyone’s gambled at some point in his life, laying down money on everything from lottery tickets to Vegas poker tables. The thrill of chasing that elusive jackpot has turned gambling into a multi-billion-dollar industry, but there’s a personal risk that comes with every wager. With nearly 500 casinos currently open for business in the U.S. has legalized gambling gone too far?
Finally we agree on something: the need to abolish all forms of state-sponsored gambling. That category includes not just lotteries but gambling businesses that rely on special legal privileges, such as state-awarded monopolies on horse race betting or arbitrary limits on the number of casinos. The best way to insure that gambling businesses offer decent odds, good service, and an enjoyable experience is to make them compete, openly and honestly, in a free market where there are no artificial barriers to entry. Notably, state lotteries offer worse odds than any other form of gambling, including private casinos and illegal number runners.
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