Colorado’s proposed bill allowing casinos to extend credit to customers is like giving problem gamblers a deeper pool to drown in.
While there are many reasons to visit a Colorado casino, and we highlight the benefits on PlayColorado.com, we also recognize that the best way to gamble is with caution. It’s a losing game to exceed one’s financial capabilities.
Colorado Bill SB23-259, “Extension of Credit for Limited Gaming,” would do just that. It would provide problem gamblers with a new opportunity to accumulate even more debt, further deepening their spiral of despair.
Various gamblers helped by banking concern ATM restrictions
On the surface, allowing casinos to offer lines of credit doesn’t seem like such a bad idea. Players who visit one of the over 52 casinos in the state want to have a good time. So, they withdraw some cash from the ATM. And if they happen to lose and want to withdraw more, they can do so.
The thing is, many banks only allow a limited amount of money to be withdrawn from an ATM within a 24-hour period. Unless a gambler enters a casino with a large sum of cash, they are compelled to stop gambling until the next day.
This policy has likely prevented millions of players from gambling away their rent money over the years. You can’t gamble what you can’t get your hands on.
Traditional casino credit payment was inactive before representatives revived that
SB23-259 originally passed the Colorado Senate but then fell short in the House, 31-34.
Representative Richard Holtorf, who had previously spoken against the bill, called for the vote to be “reconsidered.” The measure then passed, 33-32.
Several lawmakers, including Rep. Jennifer Parenti, took to social media to complain about the revote. They alleged that special interests lobbied certain representatives to change their votes.
The amended bill will now need to pass the Senate. If the Senate approves it, it will still require approval from Gov. Jared Polis before being enacted in August.
You will find safeguards in addition to pitfalls within SB23-259
SB-23-259 would require casinos to determine whether an individual is credit-worthy. Red flags, such as a person owing child support, could result in the casino denying credit.
Additionally, customers would need to apply for credit in advance. The bill, however, does not specify how far in advance. Is it a day, an hour, or a minute?
The minimum amount of credit is $1,000. That’s the minimum amount! We’re not talking about penny slot machine players here. The bill also gives the casino the ability to pursue all legal courses of action to recover unpaid credit.
The term “loan shark” comes to mind.
Colorado features several approaches to help issue gamblers
Such as several areas, Colorado supplies a self-exclusion listing. Players may voluntarily prohibit themselves coming from gambling. This is certainly one of the most tested methods to beat gambling addiction.
Colorado also offers counseling for issue gamblers and regularly promotes gambling addiction awareness. So why would Colorado lawmakers want to dial back on these worthwhile programs? Giving issue gamblers an opportunity to lose additional money is ridiculous. Casinos are places where you go to have a good time. You enjoy a few games, have a drink or two, and enjoy a delicious meal. Losing money is part of the entertainment expense. Winning is a bonus. Casinos shouldn’t be in the credit business.
Darren Cooper was born and raised in Southern Louisiana, just a short pirogue trip away from New Orleans. He started his writing career at the New Orleans Times-Picayune and has been a writer and journalist in New Jersey since 1998. He’s won 16 statewide press awards and earned his first Associated Press Sports Editors Top 10 award in 2022.
