Gambling, often referred to as "gaming", had 2006 gross revenues of $90.93 billion,[1] and thrives in the United States despite being restricted. Gross gambling revenue is the amount wagered minus the winnings returned to the players. It is a true measure of the economic value of gambling.
Proponents of gambling in the United States say it provides valuable tax revenue and job opportunities. Commercial casinos provided over 354,000 jobs,[2] and yearly state and local tax revenue of $5.2 billion as of 2006.[3] Some community groups oppose gambling because they say it leads to increased political corruption, compulsive gambling, higher crime rates, and gambling amounts to a regressive tax on local economies.
According to the American Gaming Association in 2000, the legal gambling revenue was broken down into percent of gross revenues by sector:[4]
- Commercial Casinos- 43%
- Lotteries- 28%
- Indian Gaming- 17%
- Horse, dog, jai-alai- 6%
- Charitable games- 4%
- Card rooms- 2%
References
- ^ "Industry Information: Fact Sheets: Statistics: Gaming Revenue for Current Year". American Gaming Association.
- ^ "Industry Information: Fact Sheets: General Info: Casino Employment". American Gaming Association.
- ^ "Industry Information: Fact Sheet: Statistics: Tax Payments - Commercial Casinos". American Gaming Association.
- ^ Darian-Smith, Eve. New Capitalists: Law, Politics, and Identity Surrounding Casino Gaming on Native American Land. Wadsworth/Thomson Learning, 2004.
Links
- American Gaming Association Gaming industry association
- National Indian Gaming Association Indian gaming industry association
- MSN Encarta gambling article
This guide is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.
Video: Entering Las Vegas
The sports betting has grown since 1985 when the first sports betting website were introduced. The sports betting public are more cautious about offshore sports books but continue to risk betting their money online with the fear if they would ever get their money. "If Las Vegas based casino's were allowed to go online like the many off-shore based casino's. I think that the betting public would grow at a rate of 70% " says Jay Sumlin owner of The Parlaywheel website. Mr.Sumlin has seen a large increase of new members with the parlay wheel a website that provides the sports betting public an edge for winning. The Parlaywheel.com website was published in July of 2008 and has a member base of 40,000. "I think the increase in our business is because a lot of reasons, I think we owe the most credit to our terrible economy, another reason is that sports bettors are looking for an edge of beating the books and we have the product that does exactly that", says Sumlin.
Post new comment