Is gambling a good bet?

Gambling revenue graphic with link to more informationStateline has a story (“Gambling revenue promises rarely met“) that suggests that gambling does not bring in as much money as promised. In fact, only and South Carolina met or exceeded projections with other states falling well short.

This is an important questions for Texans because we can be sure that gambling will once again be offered up as part of the solution to our budget problems.

Currently, sixteen states have legalized commercial casinos. One of the problems that Texas will face with legalized casino gambling is that casinos are now common. Las Vegas made it’s living for years by being a unique destination for gambling. Today, there are a lot of options for gamblers. Texas casinos might keep Texas gamblers at home but they’re not likely to draw in people from other states.

Of course, many Texans do not want gambling regardless of how much revenue it will bring into the state. However, we can be sure that the issue will be back on the agenda in the next legislative session.

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