The downsizing of the United States Federal government since the 1980s has put pressure on state governments to find new sources of revenue to support new responsibilities. Taxpayers have made it clear that increases in property, sales or income taxes would not be tolerated. Increasingly, state legislators are turning to other sources, the most controversial of which is the legalized gambling industry. The first part of the book looks at the structure and forces that shape the gambling industry. A short history of gambling in the US illustrates the central role governments have played. The three segments of the industry (pari-mutual betting, lotteries, and casinos) are then detailed. The second part of the book analyzes the economic issues involved, with a particular focus on the ability of the various segments of the industry to provide revenue to the state. The final part of the book discusses emerging trends such as online gambling. It also compares the American experience with that of Australia and various European countries. This book should be of particular interest to students, practitioners and scholars in public policy. It should also be pertinent to readers in economics, political science and business.
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