Essay Title: 

The recent rise of gambling

March 20, 2016 | Author: | Posted in east european studies, history

The Recent Rise of Gambling Historians and anthropologist have evidence of gambling dating back to thousand of years . Egyptian pyramids have depicted gambling and betting in the form of horse racing . Even the Bible contains reference to gambling . Gambling started to flourish in the roadside inns during the Middle Ages . During the 20th century gambling has been financed by the organized syndicates in US with the aim to launder money and make the money legal which was obtained through other illegal means , such as smuggling and drugs . Gambling exploded in the last [banner_entry_middle]

two decades in US on the Native American reservations . In recent years gambling revenue has been spurred up from 8 billion to 15 billion between 1988 and 1994 reaching 60 billion in 2003 /4 . By 2004 gambling has been legalized in 47 states (inUS and gambling is now considered Americans favorite pass time (Vatz , 2003

Gambling or betting is defined as staking some thing (or money consciously with a hope of gain . The rules of gambling depend on skill and chance that provides a chance to some players to manipulate the game . For example a Poker player or horse race gambler needs more knowledge and skill before he plunges into gambling . Commercial establishments , such as casinos and racetracks organize gambling and portion of the money is wagered by the patrons which make them winners regardless of who is the loser . Gambling normally have an element of chance , especially bingo , slot machines , keno , lotteries , craps , and roulette are based on chance or luck . No matter what the player thinks he cannot affect outcome of the game

However slot machine outcomes are normally determined by random generation . In some cases skill can reduce the chance of losing , such as blackjack , poker , and sporting and racing

Modern gambling is sometimes called legal gambling , which has been increased many folds in recent years . Legal gambling is giving rise to compulsive gambling . The National Gambling Impact Study Commission has found that in the last three decades lotteries have become more prevalent in American society . University of Buffalo Research institute mentioned that in 1975 , 61 percent American population gambled while in 2002 82 percent people gambled (Drinan , 1999 . In US , legal gambling generates about 60 billion annually . In the past few decades there has been serious rise in gambling . The state lottery started in 1973 was worth 2 billion , by 1997 its revenues reached 34 billion . And at the same time it has been increased by 42 percent among 14 years old , 49 percent among 15 years old , and 76 percent among 18 years old teenagers There are about 298 casinos on Indians reservation in the 31 states generating revenue of 6 .7 billion . With the arrival of Internet gambling , since 1997 , Internet gambling is adding 2 billion per year (Orlando , 2006 Gambling is also associated with crimes and social issues , such a higher crime rate reported to have been on rise in Atlantic City . Gambling has also been increasing debts the average debt… [banner_entry_footer]

Comments Off on The recent rise of gambling

Author:

This author has published 9190 articles so far. More info about the author is coming soon.

Comments are closed.