Saturday, July 07, 2012

Review of casino exclusions

Here is another exercise in calibration and differentiation. Some people will be labelled as "financially vulnerable" and be restricted from visiting the casino. Others will not be restricted. All in the interest of looking after their welfare. Back to the nanny state.

http://www.todayonline.com/Singapore/EDC120707-0000095/Problem-gambling-safeguards-may-target-up-to-6,000-Sporeans

My preference is to pass a law to disallow gambling debts. If the casino or loan shark gives a loan for gambling or to pay off gambling debt, the loan will be illegal and will not be enforceable. If you cut off this source of funding, the gambling problem will be reduced considerably.

It is all right to gamble with money that one can afford to lose. But one should not gamble on borrowed money. This also apply to speculating in the stock market or, to use a nice term, "investing" in the stock market.




13 comments:

yujuan said...

Agree with TKL.
Gamblers should make gambling a form of entertainment, bring so much dough in, lose so much dough out, that's all, and leave the casino premises and go consume other places within the complex.
Lending money to patrons to continue gambling should be outlawed.

Anonymous said...

Dear Mr Tan,

I totally agreed with you, but in order to resolve all this gambling problem issue, the best is to restrict all singaporean to enter the casino. The government keep saying RWS & MBS is to promote tourism and to attract more overseas visitor, then they should ban all singaporean from entering the casino. The government have setup the website call "Know the Line", why they set this up, becos they knows every years, there is plenty of singaporean have lose ever dam penny and affected the entire family. I have visited the website and i discovered many singaporean are in deep shit after the opening of the 2 casino.
In overseasm like vietnam, their government restrict their own locals from entering the casino.
Why our government didn't do it, the government have done a terrible mistake in allowing the 2 casino to be open here. Now trying all kinds of funny reason to resovle the problem, but i dont think it will help.

The government should wake up thier idea before its too late. Our next generation singaporean will be in deep shit.

I am a very good example, I use to be a very hardworking, law abidding citizen, i am not a gambler, i don't even buy 4D, but since the opening of the casino, i have lose everything and affected my family. I got not left, don't even have a dam penny. Life is miserable.
From a Miserable person,
Dead meat.

Anonymous said...

I agreed. One should treat the bet and losses as entertainment expenses. Before u go in budget an amount to be spent and loss

Kin Lian Tan said...

According to the newspaper report, they will look at locals who visited the casino a certain number of times during a period and then check on their financial standing.

I agree with this approach, and consider it to be quite well thought out. While it may appear to target those who are not so well off, I consider it to be a practical and acceptable approach.

So, I withdraw my dislike of the "calibrated" approach in this instance.

Anonymous said...

The bigger picture is the govt is morally wrong in the first place to build the casinos. It is no different from building a opium store around and then say no good for people to take opium. It is a load of rubbish recovery policies that created by the govt. A result of money greedy people with above the world salary ministers who will one day destroy the nation.

yujuan said...

Dead Meat

Our sympathies with you, gambling and heroin addiction share the same trait, you just can't stop the urge.
Our reasons of objections to the existence of the the 2 camouflaged casino IRs,
1. While working at KL in the 70s, the new Genting Highland Casino was just opened, and we heard the locals telling us housewives getting hooked on gambling while their husbands were at work, and resorted to prostitution to win back household allowances lost to buy food for the family dinner.
Some continued gambling, boosted by Ah long's loans operating at the casinos, and unable to pay, killed themselves jumping down the mountains.
2. Had a business contact who gambled heavily and lost a fortune in a Jakarta licensed casino, the wife refused to sell the hotel at Bt Timah to settle his debts, and he also committed suicide.
3. Have a friend who works for SMRT, spending his bloody whole life gambling in Gentings and on casino ships parked offshore Singapore, trying to come up with a formula to beat the groupiers.
Dread to know what has become of him now.
So Dead Meat, you are your own's greatest enemy, you've better pull yourself up, hope you dun add one more to the statistics.
Fat hope our Govt would take up the suggestion to ban citizens and PRs from the casinos, who wan to kill the Golden Goose who lays Golden Eggs to add to the GDP. Who would contribute money to the casino Honchus, if tourist gamblers dip with the rest of Asia hot on the heels rivalling Singapore by opening their own casinos. Less contributions = less GDP figures.
Here, you die your own business. Better grab our own citizens money first, if not lose foreign Ex if they gamble overseas, and shortly, new casinos are winking at local gamblers in Myanmar, Penghu in Taiwan, Japan, etc.
God bless.

Ruth Mendez said...

Everytime you gamble, always set a limit so you won’t end up with an empty pocket and a growling stomach. Avoid these loan sharks as much as possible. A one-day millionaire has only a one-day luxurious life and a lifetime of bankruptcy and poverty.

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