92% of problem gamblers are Chinese

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
#1
Is there something about Chinese and gambling? Tongue

Jan 12, 2011
Parliament
92% of problem gamblers are Chinese

By Ng Kai Ling

CHINESE men aged 30 to 50 make up the bulk of those excluded from the casinos at their own request or that of their family.

There are 3,816 problem gamblers on self-exclusion and family exclusion orders. Of these, 78 per cent are male, 92 per cent are Chinese and 60 per cent are between the ages of 30 and 50.

As of Dec 31, the vast majority of problem gamblers - 3,519 - excluded themselves. Only 297 were excluded by family members. Most applications for such orders are from spouses of the gamblers, followed by parents, children and siblings.

Another 27,500 people are on third party exclusions because they are on public assistance or are bankrupts.

Minister for Community Development, Youth and Sports Vivian Balakrishnan provided a snapshot of a typical problem gambler, in response to questions from Nominated MP Paulin Tay Straughan.

Dr Balakrishnan said that as the two casinos had been operating for less than a year, 'it would be premature to draw a conclusion on the impact of the casinos on local problem gambling or the adequacy of our social safeguards'.

The Government will continue to enhance social safeguards, he added. It had also reminded the integrated resorts (IRs) not to target the local market.

As for low-wage foreign workers, the National Council on Problem Gambling is working with employers and the Migrant Workers Centre to help them apply for exclusion orders.

Mr Seah Kian Peng (Marine Parade GRC) asked if it was legal for casinos to publicise winnings on their websites.

The minister replied: 'They will want to publicise the wins; you will find they never publicise the losses and the consequences of those losses on the gamblers and their families. So MCYS is taking steps to put a stop to that sort of asymmetric and unfair publicity which the IRs are embarking on.'

Resorts World Sentosa (RWS) was rapped earlier for releasing stories to the media about punters' winnings. A check on the IR websites found that Marina Bay Sands (MBS) has two webpages publicising wins. There were none on RWS' website.

Contacted, MBS said it was 'fully aligned with all regulations' outlined by the Casino Regulatory Authority, and that it worked closely with the Government to ensure compliance with the regulatory framework at all times.

My Value Investing Blog: http://sgmusicwhiz.blogspot.com/
Reply
#2
LOL! Definitely. Just listen to the Chinese New Year songs, all about prosperity and fortune, a.k.a MONEY. And what we do during the period - Mahjong, cards, basically gambling. It's in our blood lah Big Grin
Reply
#3
Vivian caught offguard? :O

Singaporepools is a very good example, they don't publicise winners..

learn from sgpools.. Big Grin
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR! 
4) In BULL, SELL-SELL-SELL! 
Reply
#4
Lottery is different in the sense that most winners want to keep to themselves anyway.

I've asked my parents to do an ROI table on how much they actually get back in returns from lottery. I suspected it's either very low or non-existent, but they refused to rigorously document the numbers. So everytime they "touch lottery", they think they got extra money to spend. I said hey it's just a return OF your capital, not a return ON your capital.

It hasn't deterred them from continuing to buy that HOPE, though. I'd rather stick to my dividends. Tongue
My Value Investing Blog: http://sgmusicwhiz.blogspot.com/
Reply
#5
this is their form of entertainment lah. it's already thrill queuing up to buy and wait for the result. imagine if they strike, how happy. if think in term of ROI, fun will be gone (because ROI difficult to be positive)
Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)