Gambling: Student Studies Gambling
When Melissa Kearney was studying for a doctorate in economics at the Massachusetts Institute of Technology in Cambridge, she'd occasionally stop at a nearby convenience store for orange juice or something else.
Inside, she was fascinated to see mostly working people buying state lottery and scratch tickets. Since then, Ms. Kearney has become an expert on the economics of gambling, writing scholarly studies at the Brookings Institution, a Washington think tank. It's a worthy subject. In the past three decades, gambling has exploded in the United States.
"Legalized gambling has grown from a limited activity to one that is extremely commonplace," notes Kearney. Government decisions - state, local, or federal - have largely determined the size and form of legalized gambling, she points out.
A current question in Washington: Should there be any effort to restrain the rapid growth of Internet gambling?
The industry bookkeeper, Christiansen Capital Advisors, estimates the "gross annual wager" in US casinos, lotteries, pari-mutuals, legal bookmaking, charitable bingo and games, Indian reservations, and on the Internet at $73 billion in 2003.
That's the revenue of the "gaming" industry after deducting gamblers' winnings.
June 19, 2006
Posted By Bob Hartman
Staff Editor, CasinoGamblingWeb.com
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