Not sure I get it. Voting on what? I'm confused.

It could work, but I think it'll have a hard time passing legislation, because it's restrictive for upper classes.

I agree, banks have in their best interest that they don't loose money and bet houses have in their best interest that you lose yours.

So if there aren't any natural incentives you just make up artificial ones. One such mechanism is regulation, just like with the tobacco industry.

I do believe the more money you have the more money you should be allowed to throw away irresponsibly. I mean, that's true for all other products...

I think betting needs to work like credit cards. When you get a credit card the bank does a risk assessment to evaluate your line of credit and you won't be able to spend over that limit.

Well, sports betting could have the same mechanism, where you are only allowed to bet an amount proportional to your line of credit.

If the banks don't trust you to spend over that limit and honour your debt, why should betting houses be any different?