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There is a law project in my country about gambling, which is beyond many people's imagination.
So the TLDR:
- Citizens can only gamble 10% of their income
- Banks need to watch for all transactions and stuff to determine if more than 10% is spent on gambling
- If more than 10% is exceeded, the gambling organization, not the gambler, will get a fine
Now there are many ant-gambling laws in EU, but this seems one of the craziest because it breaches many law principles such as, privacy rights, non-discrimination rights, and culpable responsibility rights.
In this regard, China is just better as it just bans gambling altogether and that seems much fairer.
IMO, I agree with most of the studies that gambling can't help society in its current form. It is yet another wealth transfer mechanism from the poor to the rich. If we can't invert the equation by targeting and implementing redistributive measures from rich to poor, gambling is worse than a zero-sum game, and in fact, it accelerates societal downgrade. 1 reply
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Slavery and child labor were completely accepted for thousands of years. Just because something is ancient is not grounds for allowing or maintaining it.
I am not a researcher, but for me, the actual effects of gambling are clear: "transfer of wealth from rich to poor", if you don't think inequality is a problem as most rich people do(though that is a clear conflict of interests) then, of course, you would like for gambling to continue.
I agree with you, that restricting gambling by invading privacy and discriminating is not the way to go. Outlawing, on the other hand, with the clear evidence that now exists is sensible in my view. It's not discriminatory(as is applied the same for everybody), it's not privacy invasive, and reduces capital concentration which is what the world needs.
Also while agree that financial education is a useful approach, is far less effective than using laws, if education had 100% impact, we would need 0 regulations. 1 reply
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I don't agree that is a false equivalency, but I appreciate your engagement in the topic.
The free market is a false concept it never existed and will never exist, all markets are regulated, and were regulated from the start.
Governments regulate a ton of things that are less harmful than gambling, in many countries, you're not allowed to do many activities that can create any risk to yourself or others.
Plus I am not talking about outlawing risk-taking that's impossible, I just talk about outlawing, lotteries, casinos, and other establishments that that don't provide any other use than concentrating capital and producing a poorer society.
This stuff is similar to many other things we outlawed, that were harmful, lead and radium in paint, asbestos in cigarette filters, huge quantities of sugar in sodas, cancerogenic additives, freon, barbiturates(at least in most EU places), there's a million of harmful stuff that we outlawed, gambling would just be another point on that list. 0 reply
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