Early on, when a fellow professor consulted us on a board game, I objected to a lotto being a part of entrepreneur journey. Being entrepreneur must not be at probability level, or a business should create value to customer or society
Gambling or lottery is a dignified Ponzi scam, You get rich at the expense of others + some profit to the operator. And just to think of social costs. Suicides, gambling addiction. Poverty to the family of the gambler. Loss of productive time Plus the attendant other vices: alcoholism, prostitution, mugging, robbery and the like
Gambling cities in US become static after sometime and not enough progress is achieved. Take Vegas or Atlantic city. They do not have the dynamism and grown of say Silicon Valley, Texas, Boston, San Francisco .
In the Philippines, casino resorts rake in billions for Pagcor, the government, and the owners. Almost every tycoons: Razon, SM, Robinson has one. Most are either at MoA or at Clark. Casinos haven
If you have billions, would you invest in casinos. ?
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