Caught a tiny winy bit of news last night
And if i am not wrong
Singapore is placing a ban on use of credit cards for local resident with less than a certain level of income annually
if they had like to gamble in the casino - they will have to change chips with cash on hand
OK here is my point of vie
I THINK THIS IS A STUPID IDEA!!!!
I mean seriously!
what has gotten into the heads of these people?
cant think straight?
look - if you are gonna encourage changing chips with cash
this means that the likelihood of them borrowing form the bloodsuckers is higher!
they can't sign cards
and so they have to only resort to lending real cash and no other means
well in my pt of view
credit cards should all work with the regulators
say place a certain limit on those who are earning a certain level of income
you noe by tier
and absolutely NOOOO cash exchange is allowed
everyone who wants to play has to flash their credit cards and than some form of scan is carried out to see if limits has been busted
i mean who else has more info than the bank about the income status of individual
on top of that
obviously those that are not earning a decent level of income cannot afford credit cards right?
so isnt that easier to filter those who are not able to take the risk in gambling in the casino?
i am not against CASINO
but i think cash exchange is stupid:
why?
1. promote lending money from bloodsuckers - cos they have ready cash
2. robbery - imagine i bring 10k to the casino and get rob halfway?
3. there is no control on the amount you can spend, you can borrow everywhere and gamble in any amt
how then?
- Linked up all credit cards info
- Set tier limits on different income
- Daily limit set, or monthly limit set for locals (cos course if you are filthy rich then your limit is boundary less)
- once its busted --> They cannot spend any further regardless of which bank credit card they use
- NOT until their debts are cleared - they are never allowed into the casino again
- If they have their limits busted once - they cannot swipe it again even have repayment for 3 mths or so
- Personal home visit to those who occasionally have their cards busted
- If you have a family, both you and your wife has to share a limit
because:
- You wil then deter those who dun have good basis of income to gamble
- Those who do not have a decent income - cannot hold cards and thus cannot gamble
- Protects the well being of the family
- with proper records - easier to track and help families who suffer due to obsessive gambler in family
- in view of point 6 above - in case they borrow money from bloodsuckers to repay bank
- You obviously discourage those people form busting the limits if they wan to come back again anytime soon
- Give them ample time work and repay - just in case they borrow money to repay the bank
HELLO!
employ me if you take my idea
fire those others who give u that idea
think deeper before you enforce rules ok
ciaoz.
eve
3 comments:
Once again, nice write-up which i enjoyed reading. However while i enjoy your critiques, i always believe there are two sides to everything and you did not give a fair hearing to the other side. Your ideas i certainly believe that the govt have considered before but not the implemented because:
1)Emphasis: The way it works is probably unlike the way u see it. Your vision is solely focused on problem gambling and its adverse effects that may affect the family etc.
After reading a press publication on your debating topic, i deduce that their focus is to rather allow each and everyone a chance to enter a LOCAL attraction. How will it sound to you when a foreign friend were to ask you excitingly how does the latest attraction sounds and you can only lament that you cant enter because u dont have a plastic card?
What is driven here is that the greater fraction of singaporeans are educated, and susceptible to problem gambling education. i.e the ads u see on tv and posters etc. That is also to give freedom to the citizens and justify a democratic society.
2)Loan Shark problem: Seriously, be it the bank or your next door ah long, there can nv be a happy ending with borrowings. As far as the govt is concerned, even though illegal borrowing occurs, it could only be a one-time problem as families can apply for casino ban on family members.
3)Impulsive gambling: Ever heard of impulsive spending? it works the same. Many yappies are saddled with credit debts because they only see the figures at the end of the month and its just the fact that humans only believe what they see. Swiping with card definitely have a less pinch effect against a thinning wallet. Another impt point to note is that there is a possibility some desperate gamblers would use their corporate card meant for entertainment for their own entertainment.
4)Proposed bank working with regulators: Easy as it sounds, but to get it work? hardly feasible. There are too many banks worldwide that provide credit services and how are you able to get each of them to cooperate and divulge clients' info to the operator who is Genting SP or Las Vagas Sands, not a govt agency. Even if such coordination is up, tracking of credit limits across different bank cards is an intensive work and no one will be willing to develop the software infrastructure if the govt is not bearing the cost.
5)Cash rich retirees: They have no income, but loads of CPF payout. So they will be given a close to zero limit? Btw, given the situation in Macau and Genting BHD, many gamblers are people who are middle aged and not in the working force. This is most probably reflected in singapore too. So no income = no card = no casino?
IMO, both method of payment consists of its pros and cons. But a strong label of stupid idea is not exactly the best way to put it, especially you probably came up with these ideas within a day or two and the team took months to agree. I'm not pro-govt, i just enjoy giving the other opinion most ppl missed.
Keep up with your entries, i enjoyed it and love to give my two cents worth!
Oh, they have cash machines just outside the casino, and banks on the island. So you're probably know its not your day at the house if u get robbed at those walking distance.
Hi there,
Thanks for sharing some thots here which I do agree.
But in my point I m mre concern abt families suffering due to addicted gambler,
More families living in fear of loanshark
More suicides
More complication to the economy
And a possible state of unrest if things get too heated up
1.
Having a chance to enter the casino is one
You can still pay the entrance fee and look around
But of course my stand is
If you are earning say 2K plus a mth - yes you can have a plastic card
What abt those that earn 1K - no plastic cards
But what's the reason tat they can't hold one
Why credit cards have such rules?
Think abt it
They are also concern abt bad debts etc.
On the other hand earning that amount and allowing them in with cash is not gonna help
Cos u can just draw it all out and then gamble each mth away
How's family suppose to survive with irresponsible family members
2.
So if there are cases of such
Aids will have to increase
That's costly too.
Besides these cost to help families out when tardheards gets real out of hand
There is also the loads of money earn by selling the rights to start a casino etc
I am sure they did earn enough
And I am for - prevention is better than cure
After losing a fam member and helping them is better
Or preventing such tragic to happen
3
Oh yes we are all educated and all
But that doesn't mean that we are not risk adverse due to our educations
While I am certain credit card limits are set for users base on their capabilities to pay its not that hard to link these up.
4
Retirees with loads of cash should be able to obtain a card
That's what I know of
If their accounts meets a certain requirement
But if u do allow cash,
Than what if they gamble their money away
Who is gonna take care of them next
Medical bills,
Food
Etc,
Is these cost again
Cost that can be use to do sth? Like linking the limits up?
Thanks for makin a pt to comment anyway (:
Continue to stay tune
To my pt of view at things
That may nt be the same as what others do
But I do reali appreciate comments (;
Let me put on the hat of a self-centered govt.
I allowed these two gold mines into my country to set up the inaugural gaming industry. Opps, in my bid to make more money, i gave out two licenses at once and given that already limited market pie size, do i have the cheek to tell them i am going to impose a cap on my citizens' losses (which is my gold mines' source of revenue).
2.Should I allow them to use credit card to pay? No, i dont want to get my people saddled with debts and screw up my own economy! Let them borrow from those ah longs, so the taxpayers' money to the police force will be justified!
3.Yes, i know social problems will arise. Thats y i set up a Singapore's National Council on Problem Gambling. I've spent money to educate already, if you cant suppress your gambling addict, go and ban yourself or get your family to ban you. I've done enough to tell you, but this is not a communist country, you have the right to make your own decision.
*Off comes the hat*
Well, you shd be aware that how this country works differ from western countries. There is no pension, welfare payout blah blah. If you cant take care of your own money, that is really your own problem! No cost will be set aside to help you.
In any case, i'm too perplexed with the policy and concerned with the potential problems which might arise due to mishandling. Only time tells you are right or not. Meanwhile, yep, just keep those interesting views coming and keep the readers intrigued!
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