LYCOS RETRIEVER 
Gambling: Gambling Revenue
built 634 days ago
Gambling revenues violate all the sound theories of taxation. Gambling revenue is regressive, inequitable, variable and unpredictable. To make public service dependent upon erratic gambling “taxes” is irresponsible. Public service should be soundly financed.
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"The changes announced yesterday will free Hilton's more lucrative lodging operations from its less successful gambling business. Hilton's gambling business is the world's largest, with revenues of $2.6 billion last year, but the U.S. casino industry is performing poorly overall, in part due to fierce competition. Hilton Hotels has 260 hotels in the United States. The new casino company [yet to be named] will have 18 casinos in Nevada, New Jersey, Mississippi, Louisiana, Missouri, Australia, and Uruguay [stress added]." (Anon., 1998, "Hilton Separating Into 2 Companies." San Francisco Chronicle, July 1, page B3)
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Under US federal law, gambling is legal in the United States, and states are free to regulate or prohibit the practice. Gambling has been legal in Nevada since 1931, forming the backbone of the state's economy, Las Vegas is perhaps the best known gambling destination in the world. In 1976, gambling was legalized in Atlantic City, New Jersey, and in 1990, it was legalized in Tunica, Mississippi; both of those cities have developed extensive casino and resort areas since then. Since a favorable US Supreme Court decision in 1987, many Native American tribes have built their own casinos on tribal lands as a way to provide revenue for the tribe. Because the tribes are considered sovereign nations, they are often exempt from state laws banning gambling, and are instead regulated under federal law. Additionally almost all states have legalized gambling in the form of a lottery.
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With such a large potential for revenues, [20] the rapidly increasing number of businesses which offer gambling entertainment on the Internet should not be a surprising development. Furthermore, because the entry barriers are so low for on-line gambling businesses, almost anyone has the ability to establish such a business on the Internet. About all that is necessary are several computers on which to host the web site and a small office in which to place them. These low barriers to entry and the relatively small amount of money needed to start an on-line gambling business [21] provides the primary reason why many people are reluctant to wager their money on-line. To help prevent unscrupulous operators from getting started in the hotbed area of casino gambling, Antigua, for example, charges casino operators up to $100,000 per year to obtain an operating license. [22]
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In the United States, state laws largely govern gambling. Some states prohibit public wagers or betting by minors, while others allow wagering up to a certain amount. In some states parimutuel betting on horse races at the tracks is legal; several states permit parimutuel betting on dog races and jai alai games, and most states operate or participate in daily and weekly lotteries. Though all of these state-sanctioned forms may conflict with public opinion on the moral and economic worth of gambling, all provide state and local governments with large revenues. The first legalized offtrack betting system (OTB) in the United States opened in New York City in 1971.
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Other forms of gambling failed to thrive. Attendance at racetracks has been in steady decline, forcing governments and track owners to change laws and marketing tactics in an attempt to shore up the business. Some gambling enterprises have been hurt by too much competition, from multistate lotteries contributing to declines in smaller state games to Native American casinos cutting into the revenues of other types of gambling. In some places, citizen backlash has been able to block legalized gambling from being approved in their communities. The gambling industry, like the act of gambling itself, continued to hold out the promise of riches while remaining a risky proposition.
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Gambling Revenue