College Students Learning Expensive Lessons about Internet Gambling
Byline: Jack Mabley
There are more than 1,200 Internet Web sites on which you can gamble in the comfort of your living room or dorm room.
You can put up money on horse racing, college sports, pro sports. You can play casino games without the inconvenience of going to a casino or Indian reservation. Slot machines, poker, blackjack, roulette - it's all there.
The sucker is betting against some unseen, unknown gambling entrepreneur probably in a Caribbean nation, but maybe in Finland, Poland, South Africa, anywhere.
"The Latest College Craze: Internet Gambling" reads a headline.
Where do the college kids get the money? That's easy. Credit card companies want to hook them early, so they flood campuses with credit cards.
If the kids get $5,000 or $25,000 in debt, sometimes their parents will bail them out.
I can think of few things more foolish than giving my credit card number and expiration date to some unknown racketeer on some island in the Caribbean.
Chalk it up as an expensive learning experience.
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Gambling on college sports corrupts college sports, as countless colleges like Northwestern and Arizona State have learned.
Student athletes throw games and shave points in return for bribes of thousands of dollars from professional gamblers. Some athletes have been caught and sent to prison.
You have to wonder how many games are thrown and points shaved that are not detected.
That's why the NCAA and most colleges strongly support laws banning gambling on college sports.
Only one state allows such gambling. Naturally, it's Nevada, where casino operators make hundreds of millions on college wagering.
Bills to bring Nevada under the ban are stuck in Congress. This is a perfect example of the power of soft money. …