The Economics of Casino Gambling

The Economics of Casino Gambling is a comprehensive discussion of the social and economic costs and benefits of legalized gambling. It is the first comprehensive discussion of these issues available on the market. Casino gambling has spread throughout the world, and continues to spread. As governments try to cope with fiscal pressures, legalized casinos offer a possible source of additional tax revenue. But casino gambling is often controversial, as some people have moral objections to gambling. In addition, a small percentage of the population may become pathological gamblers who may create significant social costs. On the benefits side, casinos are often purported to spur economic growth (increases in GDP), employment, and tax revenues. However, these benefits have been questioned. Does casino expansion simply "cannibalize" other industries, having no net effect? Or does casino gambling have significant positive economic impacts? This book examines the issues.