Gambling Money Bank
HSBC will allow customers to prevent themselves from spending money with bookmakers and online casinos, as it becomes the latest bank to introduce measures intended to help problem gamblers. Unfortunately, e-gambling is one of those industries and burgeoning entrepreneurs trying to open a high-risk bank account often experience rejection and eventually feel defeated. In order to open a gambling account, the operator needs to contact dozens of banks to compare the terms and rates. The Personal Finance Research Centre’s Money and Gambling: Practice, Insight, Evidence, or MAGPIE for short, is a three-year independent programme funded by GambleAware to explore ways in which the UK financial services industry can help reduce gambling harms. Commonwealth Bank fined for lifting man’s credit limit after he warned of gambling problem. Commonwealth Bank has been slapped with a $150,000 fine after it went ahead and gave a customer with a.
“Take a Gambling Break and Bank Your Money” Spreads Across America on Wednesday, September 29 #TakeaGamblingBreak
Gambling Operators Are Called On to Turn Off Their Lottery Terminals and Gambling Machines for a Day; Citizens Urged to Save Money in a Bank or Credit Union
WHAT:
1) If you buy state lottery tickets, use electronic gambling machines, or gamble at regional casinos, stop for one day. Take the money you would have risked and put it into a bank or credit union account. Open a new account if you want.
2) Any store, restaurant or regional casino operator that offers lottery tickets, electronic gambling machines, or any other form of gambling, is asked to stop for one day on September 29.
3) If you have a loved one or a good friend who is an active gambler, be a sponsor for one day on September 29. As a sponsor, your role is to help your loved one or friend stay away from gambling for the day, encourage them to put the money they would have risked into a bank or credit union (if they don’t have an account, show them how to create one,) and help them participate in other activities to substitute for gambling.
WHY:
1) To spotlight the millions of ordinary citizens and their families who have been harmed by government-sanctioned gambling. This growing campaign first began in Oregon more than 20 years ago out of the work of Ronda Hatefi, a member of Stop Predatory Gambling. Ronda’s brother Bobby Hafemann took his life because he became addicted to electronic gambling machines pushed by Oregon state government. Every year on September 29th, her late brother’s birthday, Ronda has organized a day to spotlight the serious harm the state’s gambling machines were having on citizens.
2) To awaken the public consciousness about how the widespread promotion and availability of extreme forms of commercialized gambling is a major factor behind the financial hardship and unfairness of opportunity facing millions of American families today.
3) To educate Americans on the truth that financial security occurs most often from the act of regularly saving small sums of money over the long-term.
4) To give families and friends a way to start a conversation about gambling with the people they love.
5) To offer an opportunity for gambling operators to acknowledge they have a duty of care for citizens.
KEY FACTS:
– Americans are on course to lose more than $1 trillion of their personal wealthto government-sanctioned gambling over the next eight years. They lost $118 billion in 2018.[1] Many of these citizens are suffering life-changing financial losses.
– Citizens who are financially desperate look to government-sanctioned gambling as a way to improve their lives and help them escape their financial condition.[2] It’s become a Hail Mary investment strategy, one that dooms them to inevitable failure and personal debt. This is a critical issue because asset-building, the opposite of commercialized gambling, is almost non-existent for nearly half of the nation’s population.
– The health of millions of Americans has been severely harmed because of the dangerous practices of government-sanctioned gambling. At least 1 out of every 20 citizens has had their lives turned upside down because they became gambling addicted.[3] This figure doesn’t account for the several people close to them, like family, friends, and co-workers, whose lives also have been diminished.
– Because of government-sanctioned gambling, all taxpayers, regardless whether they ever gamble, end up paying higher taxes for less services, and the state ends up with worse budget problems over the long term. It’s the ultimate budget gimmick.[4] You pay even if you don’t play.
– Wrongly exempt from truth-in-advertising laws,government-sanctioned gambling is an antiquated, outdated policy and a relic of past failures of leadership. Each year state governments spend more than $1 billion of public money marketing gambling to the most financially-disadvantaged citizens. The state’s gambling monopolies are exempt from truth-in-advertising laws, allowing them to grossly exaggerate the chances of winning and lure citizens into losing their money on gambling games that they are mathematically guaranteed to get fleeced.[5]
– The nation’s political elite – from both political parties- have transformed gambling from a private and local activity into the daily public voice of state government, such that ever-increasing appeals to gamble, and ever-expanding opportunities to gamble, now constitute the main ways that our state governments communicate with us on a daily basis. Nothing else comes even close.
Stop Predatory Gambling: Who We Are
A 501c3 non-profit based in Washington, DC, Stop Predatory Gambling is a national government reform network of more than one million individuals and organizations. We believe in improving people’s lives with compassion and fairness, freeing us from the lower standard of living, exploitation and fraud that commercialized gambling spreads.
SOURCES:
[1] “This is how much Americans lost on state-sanctioned gambling last year,” Quentin Fottrell of MarketWatch, published by Dow Jones Media, May 15, 2018. https://www.marketwatch.com/story/this-is-how-much-americans-lost-on-state-sanctioned-gambling-last-year-2018-05-15
[2] Cornell Univ. Professor David Just, “The big swindle: In lotteries, the poor are the biggest losers,” CNN, Dec. 18, 2013https://www.cnn.com/2013/12/18/opinion/lottery-poor-just-opinion/index.html
[3] National Institute for Health, May 2011 http://newsinhealth.nih.gov/issue/May2011/Feature1
[4] Lucy Dadayan, State Revenues from Gambling: Short-Term Relief, Long-Term Disappointment, The Nelson A. Rockefeller Institute of Government (2016), http://www.rockinst.org/pdf/government_finance/2016-04-12-Blinken_Report_Three.pdf
Gambling Money Bank Jug
[5] “This is how much Americans lost on state-sanctioned gambling last year,” The Wall Street Journal’s Marketwatch, May 15, 2018, https://www.marketwatch.com/story/this-is-how-much-americans-lost-on-state-sanctioned-gambling-last-year-2018-05-15