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Friday, February 11, 2011
Off-Track Betting Would Cost State
By Dr. Guy C. Clark
Chairman, Stop Predatory Gambling New Mexico
House Bill 232, introduced by Rep. Andy Nunez, would introduce a whole new level of gambling in New Mexico.
It would allow gambling patrons to set up accounts at racetracks from which the patron may draw funds to gamble on live races at the New Mexico tracks, or simulcast races to the tracks, by placing the bets over their telephone, mobile phone or through their computer.
This is known in the industry as "remote gambling," and several states are either doing it (Nevada), or are proposing legislation to allow it (New Jersey, Illinois).
A very practical way to look at it is to describe the practice as thousands of mini-racetracks, all around the state, where people can electronically place bets on various races, drawing funds from previously set up accounts.
This is proposing, of course, a spectacular expansion of legalized gambling in New Mexico.
This would constitute a state violation of the state/tribal gaming compacts, relieving the tribal casinos of making any revenue sharing to the state. This would mean a loss to the state of over $60 million revenue sharing per year at current rates.
Taxable revenue from remote gambling would not come close to covering this enormous loss.
This would also be the first step to full-blown legalized Internet gambling in the state of New Mexico.
New laws would be passed to try to recoup the loss by allowing more types of remote gambling and more outlets that are licensed to offer it.
Studies at the University of Connecticut and the University of Lethbridge, in Canada, have shown Internet gambling to be the very most addictive form of gambling known. Thousands of new gambling addicts in New Mexico would result from the introduction of remote gambling.
The Legislature should block HB 232 at the first opportunity.
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