Gambling

Gambling, also often referred to as gaming or betting, has been defined as any behavior involving the risk of money or valuables on the outcome of a game, contest, or other event in which the outcome of that activity is partially or totally dependent on chance or on one's ability to do something. Gambling occurs in many forms and is now widespread throughout the world, whether as a legalized or illegal activity. For example, [Page 965]lotteries are publicly operated on almost every continent, in at least 100 countries. Lottery tickets are sold at more than 240,000 locations in North America, most of which are retail outlets such as convenience stores, gas stations, and supermarkets. Worldwide lottery sales were almost $160 billion in 2003. Legalized casinos (e.g., slot machines and table games) operate throughout North America, as well as in Europe, Asia, and Australia. Worldwide, revenue from legalized casino gambling alone is expected to exceed $100 billion in 2009, up from $68 billion in 2004. In the United States, casino gambling revenue will top $64 billion in 2009, compared with $47 billion in 2004. The Asia/Pacific region (and in particular the Chinese gaming enclave of Macau) is expected to be the world's second largest casino market, with revenues reaching $18 billion by 2009, up from $9 billion in 2004. Worldwide pari-mutuel wagering (e.g., horse racing, dog racing, Jai Alai) is estimated at $116 billion. Online gambling via the Internet has enhanced one's opportunity to gamble from the comfort of one's home. Revenues from online gambling (e.g., lotteries, sports betting, slots, blackjack, roulette, bingo, poker) reached almost $6 billion in 2003 and is expected to reach $17 billion by 2009.

Over time, a continuing debate over the morality of gambling has taken place. Society is now potentially at a pivotal point in time in the history of gambling, as many are wondering in particular whether the proliferation of gambling opportunities will continue to be a “financial pearl” or ultimately result in “social peril.” To better address the nature of the debate, the following will outline the principal arguments for and against gambling. Other related ethical issues, such as whether or not governments should be involved in owning or operating various gambling ventures (i.e., whether governments are “addicted” to the tax revenues), whether advertising of gambling should take place or be limited, or the possible ethical or social responsibilities of gambling operators, while important, are outside the scope of this discussion.