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-- -- the house the house always wins.
Not if it's the state house you might already know that many state governments from a lot of gambling businesses from off track -- to the moderates what is the problem.
Some state gaming operations actually lose money and many failed to bring in any -- -- what was expected why is the department nearly -- this team to lose money.
-- -- -- With the Manhattan institute -- got my facts -- Most of these gaming operations run by the states don't bring in anywhere near the -- is -- to some luz Y.
Well I think there -- a couple things first -- if you look at something like off track.
Betting here in New York City.
That the powers of shoddy they don't compete very well with private casinos for instance of them in let's say Mohegan Sun in Connecticut where would you rather go -- off track betting parlor.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- A bit off track betting loses money in New York City know -- you can -- advice if -- salukis yeah they definitely that was.
What race you would think not but this is the point there's no penalty for losing.
Mean the puck in the in the public and the private sector you're running a casino when you're losing money -- that you get taken away from now trump but.
Let you know that felt that was the purpose of that is part of the problem that the penalty and product prices and by the get shot the story entirely why and what about the jobs.
Jumped in it in a government run -- system presumably all the patronage -- -- handed -- -- powerful politicians -- -- how it works well there's certainly some of that.
And it in the lottery system for -- for instance look that's a perfect example of that.
-- but I think the larger issue is that it that most studies have found.
That the money from lottery systems and other government controlled gambling.
Never really warns of doing what it's supposed to do anyway even when they do make money states with lotteries for instance don't necessarily have a lower taxes in states without -- states that promised to spend.
Lottery money on education don't necessarily spend more money on education so in -- way -- a lot.
Promises made to citizens and voters that we never -- field line.
-- the allocation of money that comes into government run gaming operations okay lousy allocation got it.
Would you favor a system whereby the government okay is law offers and allows private enterprise to run them.
And it takes a piece out of private enterprise as a tax.
Well I've attacked I would say only if it's -- it's as if it's a situation where you -- free market.
If you -- haven't -- -- that it's either a moral if you're not a moral issue for you.
If you want to have a you have a free market.
It's part of the economy government taxes it in that way.
Otherwise you -- of what we have right now do you remember the days when they used to -- on the last three digits of the closing value the Dow Jones Industrial Average back and always get a -- But probably three digits of what was going out of it you know -- the Belmont park.
Chemical that was guided battle the last three minutes of the close of that of the you couldn't fix it yet and I think what we're doing -- -- -- Physically I -- much and it.
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