New proposed regulations on limiting gambling losses.Proposed Federal regulations would limit the dollar amount of losses that a casino player would be required to pay in the event of excessive losses. The legislation is in response to the ever growing number of casinos in the United States.

In most cases involving substantial loss, the gambling establishments will be required to first attempt to re-negotiate the debt and in the most extreme cases, to forgive the debt entirely.

And during the renegotiation procedure, the casino will NOT be allowed to force the gambler to stop playing!

In cases where gambling losses are put on a credit card, the bank issuing the card will be required to participate in the loss mitigation of the unlucky player. They enabled the gambler to dig themselves into a deeper and deeper hole!

No one walks into a casino EXPECTING to lose! And the gambling companies accentuate winning with bells and whistles, making it seem that every player should be a winner.

After all, there should never be any risks in life. No one should EVER have to lose money. That is, except the greedy businesses that exploit poor innocent citizens with their get rich quick schemes.

Oh, and the new regulations will not apply to states that have lotteries in place. They can continue to rake in millions of dollars in cash from the most desperate members of society. After all, the income from lottery LOSERS is essential to keeping state budgets balanced!

Okay, you got me. I made this all up. To my knowledge, there are no proposed regulations to limit gambling losses.

Because it would be silly for the government to create victim status for people that lose money because of poor decision making.

Wouldn’t it?

 

Follow Me on Twitter Follow Me on Facebook Lets get Linkedin My Outside Blog Watch my Videos on YouTube


We Need Listings! Call 770-827-6225

All content, including text, original art, photographs and images, is the exclusive property of Coweta Fayette Real Estate, Inc., and may not be used without the expressed written permission of Coweta Fayette Real Estate Better Homes and Gardens Metro Brokers, Newnan Georgia. All information is believed to be accurate but is not warranted, Copyright 2003-2009. Richard Weisser REOS, E-Pro. licensed Auctioneer. 770-827-6225.
Learn more about Coweta County and Fayette County Georgia Real Estate, and to search the entire Georgia MLS for free with no registration required. Visit CowetaFayetteRealEstate.com! Photos of the Great Smoky Mountains National Park. North Georgia Photos.

 

North Georgia Photos

 
Post is included in group: Club Chaos
Post is included in group: Diary of a Realtor
Post is included in group: Realtors®
Post is included in group: The Lounge at Active Rain
Post is included in group: "Whacked"!!!

17 Comments on Gamblers take notice: New government regulations would limit the dollar amount of casino losses.

NOV
01
2010
745,042 Points 18 Featured Posts Outside Blog Called Shot Master

Richard,

You took me in, hook, line, and sinker.  LOL

Congratulations on your credibility.
9:02am • #1
830,283 Points 173 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Richard, I am with Mike, you took me in, I was fuming, LOL. But your last line, that is the one that really got me.

Because it would be silly for the government to create victim status for people that lose money because of poor decision making.

Wouldn’t it?

Well now, there is the burning question of the day.

(You inspired a post from me today, you wrote about people who need to rent but can't because their credit is now ruined)

I would ask you in return, it would be silly for the government to create victim status to companies who had made bad decisions, wouldn't it?  

Now I am even more distressed, thanks!
9:08am • #2
909,258 Points 94 Featured Posts Attended Rain Camp Called Shot Master

I was all ready to fire off a less than approving letter to my congressman! You got me Richard! Well done!
9:13am • #3
452,806 Points 81 Featured Posts Called Shot Master

Richard - But if the casinos, tour companies and others presented a "can't lose" scenario; and if the players losses would ultimately impact their neighbors and the entire community, then I don't believe it would be wise to ignore the situation, hoping it would go away. 
9:22am • #4
388,302 Points 8 Featured Posts Called Shot Master

So, there would then be a GAGA program as a result of the "proposed" law?  Gambling affordable gangcollection alternatives?  Maybe they would only sprain your ankles instead of breaking both your legs.  That seems like reasonable modification. 

You could be doing a lot of damage if your idea gets read and picked up by the wrong member of Congress.
9:33am • #5
830,283 Points 173 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Richard, Mike is right... you may be doing a lot of damage with this post. I am afraid that this will be a new proposal by congress. And then... it will be... ALL YOUR FAULT!

And I will, for the first time in my life, run to the casino....
9:36am • #6
1,077,019 Points 295 Featured Posts Outside Blog Called Shot Master

So we have a Win-No Lose proposition?  Makes as much sense as anything else the pols have done lately! :)
9:40am • #7
813,481 Points 85 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Gee Richard, you know i just thought you were blowing smoke at all of us lemmings here!  Sometimes weird thoughts get transmitted the wrong way...very amusing.
9:45am • #8
1,512,688 Points 358 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Mike...

But I did make you think ...didn't I??? Thanks my friend.

Andrea...

It really is a burning question. And yes, that goes for company bailouts too! Thanks so much for a great comment.

Craig...

Well. silly me. I had to come clean! lol and thanks.
10:58am • #9
1,211,133 Points 194 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Well, as I was reading it, I said to myself this makes no sense. It' wouldnt be known as GAMBLING then. Then you spilled the beans.
11:48am • #10
811,292 Points 20 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

A bit of sarcasm in them north Georgia bloggers this morning! Bailouts...has there ever been a time when they were not part of the government programs?
12:38pm • #11
1,424,423 Points 56 Featured Posts Outside Blog Called Shot Master

Here I thought I would be able to renegotiate my $7.45 in bingo losses from last month!
2:18pm • #12
243,359 Points 6 Featured Posts Outside Blog Called Shot Master

Richard Weisser - Coweta Fayette Real Estate - Newnan homes for sale - so what office are you running for with this pitch?  LOL! Thanks for a Monday chuckle.
2:22pm • #13
198,309 Points

Richard...........and where is my bailout............I want it now.  I lost at the blackjack table last time I was in Vegas, oh yeah the time before too!  Is it insanity to keep doing the same things and expecting different results..........bailouts
5:51pm • #14
359,486 Points 15 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Even though I thought you were serious, I wasn't surprised. Isn't that a pathetic statement in and of itself. If someone can continually take out all the equity in their homes for vacations and new cars and the rest of us pay for it, why not this? Remember to vote tomorrow!
6:43pm • #15
1,542,487 Points 116 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Don't know why this one isn't featured yet, so I'm hitting the suggest button.  What a great way to get people to think.  And it's not just the banks making bad decisions.  Some home owners wore a blindfold going into impossible mortgages.
11:24pm • #16
1,512,688 Points 358 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Chris Ann...

When I wrote this blog post, I thought that I was on to something. But sometimes these kinds of post make people a little uncomfortable so I don't blame them for their restraint. Thanks so much!
11:48pm • #17


Captcha

Drag the computer to the circle on the side.

Image?id=4625977818bcde53f0df1736a5c2f4feeed2cc64 Image?id=d8f9f194c2f21a912820c25c4e65919076dd2137 Image?id=23f3af4028e2d94d9826ce38513f01d32fe584b4 Image?id=3a2450df53e58ec51976624de9649bbaa6d699dc Image?id=7522d2ee2cc0818ac86c75ed15f77dd73b1661fb

Accessibility option: listen to a question and answer it!

Type below the answer to what you hear. Numbers or words, lowercase:
Leave a response…

(optional)
Captcha

Drag the folder to the circle on the side.

Image?id=77ff3a9630d7c7b1fe66c6e89b20adce01af84f6 Image?id=f2426c69a5dd1df012a3b9a29dd16d37d66ea652 Image?id=3b410342b79bf7ae7903f88ca00cc74daa41bc6a Image?id=a9ed9976d486bee73eeeb4b3bad8360b06ac3685 Image?id=b2600a21b354cb21f6157cdae2813090ecc82213

Accessibility option: listen to a question and answer it!

Type below the answer to what you hear. Numbers or words, lowercase:
 
Richard Weisser, Richard Weisser Coweta Newnan Homes for Sale (Better Homes and Gardens Real Estate Metro Brokers) Ambassador_large

Richard Weisser

Richard Weisser Coweta Newnan Homes for Sale

Newnan, GA

More about me…

Better Homes and Gardens Real Estate Metro Brokers

Address: 209 Newnan Crossing Bypass, Newnan, GA, 30265

Office Phone: (770) 827-6225

Cell Phone: (770) 827-6225

Email Me

Author Bio: Richard Weisser is a Georgia real estate broker, licensed auctioneer, a candidate for GA House District 71 and has been writing about Georgia Real Estate since 1999.

Coweta Fayette Real Estate offers opinions and helpful information to consumers and real estate professionals in the Coweta County Georgia area.

Coweta Fayette Real Estate allows you to search the entire Georgia MLS for free with NO registration required!

Twitter cowetafayette


Listings

Links

Archives

RSS 2.0 Feed for this blog

Find GA real estate agents and Newnan real estate on ActiveRain.