The Legalization of Casinos: Policy Objectives, Regulatory Alternatives, and Cost/Benefit Considerations

Abstract

Legal casino-style gambling expanded dramatically in North America between 1988 and 1995. In the United States alone, commercial gaming revenues reached nearly $40 billion in 1994. This article examines the reasons for this sudden growth, how the casino profits are distributed, how the industry has dealt with arguments against legalization, and which groups have benefited from it. A future problem for the industry is also raised: as competition grows and markets become saturated, will gambling cease to be an economic stimulant? Finally, further study to achieve a fuller understanding of gambling's economic and social effects is called for.

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