To paraphrase late-night talk-show host Craig Ferguson, it’s a great day in Florida.

For those that want to get their gamble on, a new law goes into effect on Sunday raising the betting limits for poker played within parimutuel facilities from $2 to $5 per bet for limit games, and allows no-limit games to be played with a maximum buy-in of $100.

I’m an avid low-limit poker player with a modestly successful poker blog, so obviously I’m in favor of this new law. Opponents of expanding gambling say it increases the potential for compulsive gambling, but the fact is that the data does not support their argument. Harvard just published a study of 40,000 gamblers and found that gamblers moderated their behavior based on losses, amount of time played, and several other factors. In other words, the more people lose, the less they play.

Unlike booze, where the more you drink, the more you drink.

Personal experience: I’m a winning poker player over my lifetime. For a period last year I moved up in stakes and continued to win with an ROI that was as solid as at lower limits. After less than two months, I cashed out a winner.

Why?

Psychologically, I was uncomfortable with the swings. Most people assume that people on win streaks will keep gambling because they can’t help themselves, and people who lose will chase losses to bankruptcy. This is simply not true.

Perhaps they are projecting their own weaknesses and addictive personalities?

I don’t know. What I do know is that no one has ever put a gun to my head and said “Gamble”. Compulsive gambling, like other addictions, has been shown to have medical roots and should be treated as such.

Dopamine agonist therapy was associated with potentially reversible pathological gambling, and pramipexole was the medication predominantly implicated. This may relate to disproportionate stimulation of dopamine D(3) receptors, which are primarily localized to the limbic system.

The argument should be about personal freedoms.

And with personal freedom comes personal responsibility:

Florida Times-Union:
Barlow, who started playing as a way to stay in touch with friends, offered a more blunt suggestion over a round of poker.”Anyone who plays with rent money shouldn’t be playing with cards.

It’s nice to see the government begin treating it citizens like adults, for once. It’s nice to see the “Nanny” mentality amongst our lawmakers dissipate a little.

Make smart choices. Hope to see you at the tables some day. Fun stakes only, of course.