Gambling on credit

I accept that gambling is a fact of life. Therefore, I had supported the building of the casinos in Singapore.

We gamble on the stock exchange and speculate in foreign currencies. On a smaller scale, we take bets on Toto, 4D, football matches, sports events and the turf club. For most people, the biggest gamble is in a property, although they like to think that they are "investing for the future".

I only support gambling with what we can afford to lose. I do not support gambling on credit or leverage, which is the worst type of gambling. Hence, I am shocked to learn that a businessman could lose $26 million in the casino - gambling on credit. This should be made a condition of the casino licence - no gambling on credit! Similarly, loans from sharks should also be made illegal.

Tan Kin Lian