Effects Of Casino Gambling On The United States - 2737 Words

Casino Gambling in the United States There is an extensive and constantly changing literature on the effects of casino gambling in the United States. As of December 2010, there were 939 commercial, tribal, and race track casinos operating in 38 states in the US (American Gaming Association, 2011.) In this paper, I will review the economic literature on the effect of casino gambling, looking at three categories: Price Sensitivity, Social Effects, and Location Determinants. This paper will explore how economists attempt to find the answers of this relatively new concept of casino gambling. What is the revenue from the casinos and how do they impact the local economy? Does the â€Å"immoral† action of gambling increase crime in the states that legalized it? What are the impact on wages and does casino gambling lead to an increase in bankruptcies? The economic literature is quite broad and while there is extensive data on the effects of casino gambling, economists are still torn between the questions of if â€Å"A casino typically generates more benefits to society than costs† (Walker, 2013). While more economists believe that the costs outweigh the benefits, this paper will explore current economic findings of casino gambling and attempt to offer more understanding to the effects it has on the economy. Probability and Timing Casino gambling has been scarce in the US, only being found in Nevada from 1931 until 1978 when New Jersey legalized gambling. In 1987 the Supreme Court made aShow MoreRelatedGambling Effects On The American Economy1671 Words   |  7 PagesGambling Effects on the American Economy American people like games and entertainment, and one of these games is gambling. According to crops online, a gambling website (2009), gambling is classified as an old game taking place in China back around 2300 B.C. 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