Cass (Trustee in Bankruptcy) v. Karpnale? (Allan Axelrod, 15 Dec 2000)

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Sender:	Allan Axelrod
Date:	Fri, 15 Dec 2000 12:40:26 -0500
Re:	Cass (Trustee in Bankruptcy) v. Karpnale?

a US case in re chomakos [allard v flamingo hilton] 69 f3 769 1995 holds that a casino gives reasonably equivalent value when it offers the insolvent a win prospect even though the casino games have a built-in house advantage of up to ten percent

[incidentally the house percentage can be improved by getting the bettor drunk, which is not against the US casino free-drink policy]

the insolvent would be well advised to keep gambling until she either wins herself back to solvency or loses all non-exempt assets

query an insolvent who has invested heavily in the english national lottery: i believe it returns well under 50% to the bettors, altho use of proceeds for culture might fit the US charity exception ???

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