Anti-Gaming Professor Makes Case for Legal Online Casinos
Professor John W. Kindt of the University of Illinois inadvertently made a point in favor of legal online gambling when citing the dangers of black market activities recently. While promoting a new book that promotes a convoluted argument that casinos and gaming cause a weaker national defense, Kindt discussed the harm illegal activity brings to economies.“We’re seeing all kinds of really outrageous examples of people averse to our interests who are using gambling to their advantage and our detriment, such as laundering money through casinos around the world,” Kindt said.
Kindt also pointed out that economists think dollars invested in the mainstream economy have a multiplier effect, tripling in value by creating jobs and thus driving the continuing cycle of consumer spending. Economist Frank Carzynski says this effect is not felt through black market or illegal activities, which both siphon off dollars from the economy and also remain untaxed, draining government revenues.
Carzynski suggests that Kindt's economic arguments actually call for regulated and licensed online casinos.
"Internet gambling has proved resistant to prohibitory measures," said Carzynski. "In order to prevent the deleterious effects of illegal activity, online gambling should be regulated, with strict licensing requirements."
Carzynski said proper licensing and compliance oversight would help curb money laundering. And the economy would benefit from the folding of Internet gaming into the service industry, while government could capture literally billions in lost tax dollars.
