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Chapter 15 FUTURE OF GAMING

Chapter 15 FUTURE OF GAMING. Chris Roberts University of Massachusetts. The Changing Cycles of Gaming in History. Rose theorizes gaming is cyclical: Governments need money; they look to gaming. Gaming popularity increases, levels of addiction, crime, and other social problems increase.

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Chapter 15 FUTURE OF GAMING

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  1. Chapter 15FUTURE OF GAMING Chris Roberts University of Massachusetts

  2. The Changing Cycles of Gaming in History • Rose theorizes gaming is cyclical: • Governments need money; they look to gaming. • Gaming popularity increases, levels of addiction, crime, and other social problems increase. • The population cries out for de-regulation, and gaming is outlawed. • Rose forecast a complete ban on legalized gaming by 2029.

  3. Differences suggest that history will not repeat; key among these are: • Physical structures of the gaming facilities • Tendency for entire communities to support gaming • Large numbers of jobs in the industry • Immense sums of capital invested • Broad economic and public policy impact in terms of taxes and jobs • Popularity of internet gaming, professional sports • The integration of gaming into contemporary society

  4. The Different Conditions • Physical Structures Differ three ways from the past: • First, whole communities have developed around gaming. • Second, the typical casino has grown from an intimate boutique into a very large hall. • Third, the casino has become integrated with several other industries in the delivery of the gaming product. • Most commonly, these other products include hotels, restaurants and retail shops.

  5. Human Resources • Casinos employed more than 350,000 by 2004 • Capital Investment and Ownership • Capital committed to the industry is staggering. • Casinos bring major investment to communities. • Tax burden on businesses rather than residents. • Publicly held ownership resulted in: • Professional, corporate management • Transition from images of sin, sex, and the mafia to modern entertainment destinations; safe, clean and fun for individuals and families

  6. Economic Impact • In 2004, gross gaming revenues were $29 B. • State and local areas improved their overall economic situation after allowing casinos. • Foxwoods pays the state of Connecticut a percentage of their monthly slots revenue in the range of $50–$60 million. • Indirect spending in related industries further increased totals. (Called the multiplier effect ). • In states allowing gaming: employment percentages increased; additional tax dollars are being used for education and infrastructure.

  7. The Rise of the Internet and Professional Sports Betting • There are 1,800 virtual casinos • Internet gambling is illegal in the U.S. • Government entities are powerless to reasonably enforce the law • Providers avoid U.S. legal concerns by basing their operations in other nations • Other issues: • Collection of bets • Payment of winnings • Determining identity and age of a bettor

  8. Accompanying interest in professional sports is the rise of sports betting. • Nevada is only state to legalize sports betting. • Betting on sports has become common. • Newspaper sport sections cite “odds” of various events by well-known professional gamblers. • Casinos outside of Nevada often provide areas for customers to contemplate sports bets even though the casino does not take the bet. • Size of underground economy in sports betting is incalculable. • Has increased levels of acceptance of gambling.

  9. The Nature of Contemporary Culture • Citizens generally believe gambling is acceptable as long as minors are protected. • Government approval and widespread geographic availability contribute to high levels of acceptance. • Social upheavals of the late 1960s and early 1970s dramatically altered definitions of acceptable behavior. • If a jurisdiction bans gaming, customers can move to another area that permits it. • Fear of gambling addiction is waning as our understanding of it develops.

  10. The Rise of Native American Gaming • Native American gaming is a mainstay for many tribes – and for their non-Indian customers. • Foxwoods and Mohegan Sun, the largest and second largest casinos in the world, are tribal. • Casinos have become important vehicles of economic development and employment. • Since reservations are often located away from cities, some casinos are small with small profits. • Many reservations have no casinos, believing it is immoral or inappropriate for their culture.

  11. The Future Forecast • Forecast: continued institutionalization. • Will experience ebb and flow cycles. • Governments who rely on tax revenues and increases in employment from gaming will continue their support. • Regulation will be crafted with care, as it will directly impact state coffers. • NIMBY (not in my back yard) will certainly continue as an argument against the industry. • Gambling in virtual casinos will continue to be widely available.

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