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Perspectives on Gambling, Lotteries, Wagers, and Casinos by Laurence S. Moss
  

Perspectives on Gambling, Lotteries, Wagers, and Casinos

Part of the Studies in Economic Reform and Social Justice Series

Synopsis

Perspectives on Gambling, Lotteries, Wagers, and Casinos by Laurence S. Moss

This book consists of several carefully crafted essays on the subject of gambling. The first two essays relate the latest trends on technology and communications to the development of actual gambling practice. And so the first essay documents the impact of simulcast racing on wagering dollars-the impact simulcast bettering has raised the total amounts wagered from .25 billion dollars in 1985 to 15.62 billion dollars in 2002. Bettors find great interest in this developing technology. The next essay untangles the logic of the double-auction gambling market by explaining how the experimental work at George Mason University has and is altering the role of the bookmaker who now functions as a mere broker coordinating contracts between bettors. This development is especially obvious in Britain where online gambling is legal. As for the burgeoning state lotteries especially in the United States, we offer three insightful essays. The first recalls the hidden costs that these entertainments often imposed on the community. Indeed, the second essay offers empirical evidence that the persons most likely to play the lottery are not only the poor but those poor who are close to getting over the poverty line. Somehow the lottery symbolizes a one-way ticket out of poverty making this a desperation ticket more than an entertainment ticket. Our last two papers should be taken together. The first of this group reminds of the great difficulties and arbitrary assumptions when trying to measure the costs and benefits of the development of Casino gambling. In the last essay, the main and most economically relevant approach would be to find out if there were any empirical connections betweens the growth

About the Author

Professor Laurence S. Moss is a Professor of Economics at Babson College in Massachusetts. He now serves as the editor-in-chief of the American Journal of Economics and Sociology.

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Book Info

Publication date

19th December 2007

Author

Laurence S. Moss

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Publisher

Wiley-Blackwell (an imprint of John Wiley & Sons Ltd) an imprint of John Wiley and Sons Ltd

Format

Paperback
200 pages

Categories

Economics

ISBN

9781405179430

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