Gambling Revenue: A Bad Bet for NJ?

New Jersey lawmakers often turn to gambling as a revenue stream to fund much needed state projects.  But in today's world of shuttered casinos and slouching profits, is that really our best bet?

Addiction counselor Arnie Wexler says no - and he says he sees only one outcome when the gambling industry fails to live up to the expectations.

"Now that's going to be a shortfall," said Wexler.  "Where's that money going to come from?  The people of New Jersey are going to have to pick up that shortfall because New Jersey is a balanced budget state."

And as a former compulsive gambler himself, Wexler has another concern about using gambling as a cash cow.

"They raise revenue from gambling because they think it's an easy way to raise revenue, when in fact it's destroying some people's lives in their own constituent base," said Wexler.

Wexler shares his own experiences in a tell-all book -- titled All Bets Are Off: Losers, Liars and Recovery from Gambling Addiction -- which is due out in December.

"It's going to be a well-rounded book talking about my addiction and recovery, my wife's living with this addiction... gambling in America and the addiction of compulsive gambling across the country," Wexler said.