Here we are, heading
into the 21st century, and Prince George's County is thinking
about becoming the cash-cow for extra government revenue for the State of
Maryland with some extra income thrown in for the county government to help
reduce today's budget gap and tomorrow's revenue demands. Bringing the
gaming industry with slots and as well as other gambling enhancements and quiddities will
supplement the state lottery well that is already in place. Gambling in Prince
George's County will help create over 3000 $11.25 per hour jobs, put a few
local hospitality businesses out of business while at the same time greatly
increase the marketability of National Harbor indirectly supporting the
addition of more businesses and service jobs.[1]
While these are all commendable goals that at the moment only Prince George's
County is clamoring for, I have an another idea given the power elite current
thinking that Prince George's needs gambling: "Saving Lotteries".
Eight Michigan credit unions started a "Save to Win" program a couple
of years ago, "which works both as a lottery and as a savings deposit
program. Under this setup, Michigan residents have to open a one year share
certificate with at least $25 deposited every month. The program gives out
monthly prizes ranging from $125 to $1,000 and all active accounts qualify for
the grand prize of $100,000 after the "Save to Win" program period is
over."[2]
This version of gambling would directly impact county households; Americans
spend about $500 annually in lottery tickets. The attraction and appeal
reportedly is especially strong among those with lower incomes.[3] According to the Washington Post,
"...the credit unions declared that for every $25 someone saved, the saver
would earn an entry into a drawing for a $100,000 prize one year later. At the
same time, they gave out monthly prizes of up to $100. The credit unions also
hoped to attract new members and expand their deposit bases. So as part of the
program, people could join a credit union and open an account to bid for the
prize at the same time."[4]
The trouble with my idea here in Prince George's County is that any type of
savings lottery would directly compete with the proposed gambling initiative
and program and therefore would impact to some extent National Harbor and to a
greater extent the State and County government revenue streams. So an idea that
would allow individuals to save and win, to create wealth enough to start small
businesses of their own and support our local banking system will not get off
the ground. We are too busy looking to yesterday for solutions to tomorrow's
problems. The art of politics as practiced in Prince George's County was known
in the Roman Empire: Ratio
civilis est ars cavendi ne homines curent quod ad se pertineat.[5]
PRINCE GEORGE'S WORKS HARD TO BRING BACK GAMBLING FACILITIES WHILE
THE REST OF COUNTRY GOES ON-LINE MONDAY,
DECEMBER 26, 2011 ANONYMOUS
WHAT DO WE KNOW ABOUT GAMBLING, GAMING, CASINOS & ECONOMIC
DEVELOPMENT IN PRINCE GEORGE'S COUNTY, MARYLAND? SATURDAY, JANUARY 21, 2012
[1] Optimal Solutions
Group. The Economic and Social Impacts of Racetrack Video Lottery Terminals on
the City of Baltimore and Prince George’s County. Commissioned By: The
Presidents’ RoundTable, Inc. & Greater Prince George’s Business
Roundtable, Inc. February 2004. [accessed January 22, 2012]http://www.responsiblegambling.org/articles/economic_and_social_impacts_racetrack_vlt_baltimore.pdf
[2] Naresh
Kumar. Banks Create Savings Accounts That Double As Lottery Tickets. PSFK.
April 16, 2010 [accessed February 15, 2012] http://www.psfk.com/2010/04/banks-create-savings-accounts-that-double-as-lottery-tickets.html
[3] Anne
Stuhldreher. Credit unions launch a savings lottery, and everyone hits the
jackpot. Washington Post. February 7, 2010. [accessed February 15, 2012] http://www.washingtonpost.com/wp-dyn/content/article/2010/02/05/AR2010020501447.html
"Some estimates suggest that more than 80 percent of lottery
revenue comes from households making less than $50,000 a year -- the very
people who have the hardest time saving. In fact, 38 percent of people earning
less than $25,000 a year think the lottery is the most practical way they'll
accumulate a few hundred thousand dollars in their lifetimes, according to the
Consumer Federation of America."
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