@Brad West🔸 , thanks for sharing your thoughts! This is what I thought of initially, but then “pivoted to” the complete non-profit framing, mainly because winning in the actual casino would mean that you are in effect taking money from charities. Probably even more important is the legal advantage of my proposal
Thanks for your proposal. I have actually thought a Profit for Good casino would be a good idea (high capital requirements, but I think it could provide a competitive edge in the Vegas strip, for instance). I find your take on it pretty interesting
I think a casino that did not limit the funds that could be gambled to charitable accounts of some sort would have a much larger market than one that did. There is a lot of friction in requiring the set up of charitable accounts even for people who were interested in charitable giving and enjoyed gambling. I also think that you are going into a narrower subset of prospective clients that have these overlapping qualities. In the meantime, there are millions of people who consistently demonstrate demand for gambling at casinos.
I think a lot of people would feel fine about playing at the casino and winning, because they know that there are winners and losers in casinos, but the house (in the end) always wins. Winners and losers would both be participating in a process that would be helping dramatically better the world.
Could you explain the legal advantage of your proposal vis-a-vis a normal casino either owned by a charitable foundation or being a nonprofit itself (Humanitix, for instance is a ticketing company that is structured as a nonprofit itself)? Is it that people’s chips would essentially be tax-deductible (because contributing to their DAF is tax-deductible)?
@Brad West🔸 , thanks for sharing your thoughts! This is what I thought of initially, but then “pivoted to” the complete non-profit framing, mainly because winning in the actual casino would mean that you are in effect taking money from charities. Probably even more important is the legal advantage of my proposal
Thanks for your proposal. I have actually thought a Profit for Good casino would be a good idea (high capital requirements, but I think it could provide a competitive edge in the Vegas strip, for instance). I find your take on it pretty interesting
I think a casino that did not limit the funds that could be gambled to charitable accounts of some sort would have a much larger market than one that did. There is a lot of friction in requiring the set up of charitable accounts even for people who were interested in charitable giving and enjoyed gambling. I also think that you are going into a narrower subset of prospective clients that have these overlapping qualities. In the meantime, there are millions of people who consistently demonstrate demand for gambling at casinos.
I think a lot of people would feel fine about playing at the casino and winning, because they know that there are winners and losers in casinos, but the house (in the end) always wins. Winners and losers would both be participating in a process that would be helping dramatically better the world.
Could you explain the legal advantage of your proposal vis-a-vis a normal casino either owned by a charitable foundation or being a nonprofit itself (Humanitix, for instance is a ticketing company that is structured as a nonprofit itself)? Is it that people’s chips would essentially be tax-deductible (because contributing to their DAF is tax-deductible)?
I meant that my version of casino could operate in all states legally (vs 8 states for regular casinos)
Also: have you used Daffy? It’s really easy to set up (to your point about friction of setting up accounts)