The concept is based on the Affordable Care Act model where a small percentage of every bet would be deferred to a trust fund, and proceeds would be matched by the federal government to be sure that no one leaves casinos empty handed.
The bill’s author, Jim Spade, commented that “losing causes depression, especially among gamblers who have no business being in the casino in the first place.” Spade went on to say, “studies have shown that the vast majority of chronic gamblers are using their Social Security checks to fund their gaming, and it’s time they got some of that money back.”
It is also written that those with a known gambling problem will receive a larger share of the new Gamblers’ Insurance Fund, or “GIF,” while they are actively seeking treatment to overcome their addiction.
The proposed legislation would also include language banning so-called High Limit areas in casinos since these areas are often reserved for only the most affluent players many of whom are visiting from either white or Asian communities. Spade said, “it’s really not fair to the rest of us that we’re not able to join in high stakes fun, and these designated areas just show how insensitive casino operators are to the psychological well-being of the poor and middle class. It’s insulting really.”
Many supporters think this bill doesn’t go far enough. In order to rally political support for the legislation, the authors had to do away with a proposal to end “comps” offered by most casinos, especially those with hotel and restaurant facilities under the same roof. Again, it’s not fair that players are rewarded with things like free rooms, dining, and tickets to high demand entertainment based on their frequency or volume of play. A compromise may be to ensure that everyone is offered the same comps regardless of how much they spend on the casino floor rather than do away with this clause altogether.
Opponents of the bill say this will only make gambling more expensive for everyone, while casino operators claim it will require them to charge more for hotel rooms and other facilities in order to make up for higher payouts to winners. But in the end, everyone will be a winner so it should all work out fine.