In a recent article, a reporter looked at the “losses” from gamblers in Ohio over a four year period. He characterized the profits from the Ohio gambling sources a little oddly – the $9.7B is really the money made by the industry. This is still significantly more than would be expect by looking at a required fund casinos donate to: 2 percent of the casino proceeds for a fund that totaled $21 million in the past few years would indicate roughly $1B in profits over two years. This would indicate the real money makers in Ohio are the seven “racinos” and the Ohio lottery – the others included in the $9.7 figure.
Williamsville founder Bob Cabaniss was asked for a comment on the piece and the situation in Ohio. He felt the gambling forms a tax on the poor. State Sen. Bill Seitz, a Cincinnati Republican said the legal gambling was a “necessary evil,” and remarked: “On a selfish note, for those of us that don’t gamble, we don’t pay a penny in tax.”