On my latest broadcast, I discuss the latest craze in NH-sports betting. The question on whether to adopt it in the city of Claremont will be on the Tues., Nov. 5th ballot.
It certainly will not reduce the education portion of your property taxes; if anything, it will be an incentive to spend more, and thereby, increasing the already bloated education budgets. In addition, it will have the tendency to entice people to play as the app will be available on smart phones, and retail outlets will have flashy screens at the terminals as well. This will create a culture of dependency and addiction-a costly social problem like drug addiction, and the financial toll on families can be devastating. The other aspect is crime and corruption which goes hand and hand with gambling, and it always has, Therefore, we can expect to hire more law enforcement which is another cost born by the local taxpayers. With gambling, the costs definitely outweigh the benefit of the twenty-five percent proceeds designated for the education trust fund.
Voting on adopting sports betting is one wager that I wouldn't want to make, and I hope that you don't either. Tune in to my podcast on YouTube, FaceBook, Twitter, LinkedIn