The New York City Off-Track Betting Corporation (OTB) recently announced that it has filed for bankruptcy under Chapter 9 of the U.S. Bankruptcy Code. Chapter 9 means that the OTB will be able to re-organize its debts, develop a new business plan, and continue to do business under the Court’s supervision.  It will also need the Legislature to approve any significant changes.

It’s too bad – New York City would be better off if they just admitted failure, and shut the OTB down for good.

The Bible warns us about the love of money, encourages us to be content, and notes:  “But they that will be rich fall into temptation and a snare, and into many foolish and hurtful lusts, which drown men in destruction and perdition.” (1 Timothy 6:9)

Gambling proves this to be true, for everywhere you find gambling you’ll also discover the curse that accompanies it: addiction, bankruptcy, crime, and suicide.