Gaming law and regulation has seen many developments since the first edition was published in 2011. Anti-money laundering rules have been tightened, as have SEC filing requirements. Legal challenges to statutes restricting sports betting illustrate the tenuous nature of these wagering limitations. Daily fantasy sports competitions, a new way for people to engage and compete on the performance of their favorite players, have gained massive audiences and created challenging legal issues. The United States Supreme Court continues to develop jurisprudence on the ability of Indian tribes to operate casinos off their traditional lands, and has re-examined fundamental tenets of tribal sovereignty. The second edition retains a solid foundation for understanding the basic regulatory structure of gaming. It also continues to illustrate that gaming is one of the most dynamic, fluid, and policy-oriented areas of law a student will ever encounter in law school.
Every day in the United States, people test their luck in numerous lotteries, from state-run games to massive programs like Powerball and Mega Millions. Yet few are aware that the origins of today’s lotteries can be found in an African American gambling economy that flourished in urban communities in the mid-twentieth century. In Running the Numbers, Matthew Vaz reveals how the politics of gambling became enmeshed in disputes over racial justice and police legitimacy. As Vaz highlights, early urban gamblers favored low-stakes games built around combinations of winning numbers. When these games became one of the largest economic engines in nonwhite areas like Harlem and Chicago’s south side, police took notice of the illegal business—and took advantage of new opportunities to benefit from graft and other corrupt practices. Eventually, governments found an unusual solution to the problems of illicit gambling and abusive police tactics: coopting the market through legal state-run lotteries, which could offer larger jackpots than any underground game. By tracing this process and the tensions and conflicts that propelled it, Vaz brilliantly calls attention to the fact that, much like education and housing in twentieth-century America, the gambling economy has also been a form of disputed terrain upon which racial power has been expressed, resisted, and reworked.
Discussions in this book include taking gambling losses and expenses off your taxes, how to avoid paying gambling debts, what to do if you feel you are cheated, whether a home poker game is legal, what to do if you are arrested, your rights in a casino,can counting cards be legal, how to keep from being blacklisted by casinos, getting a gambling license, reducing taxes if you win big in the lottery and more.
Gambling and Speculation takes the long, historic perspective of its controversial subject. The book offers not only a better understanding of the recent "gambling craze," but also a fundamental inquiry into human nature and the structure of societies. The Brenners argue that the negative image of gamblers and of speculators stems from prejudice, whose roots are in the distant, forgotten past. Legal scholars have frequently confused gambling with speculation and the anti-gambling laws were, at times, erroneously interpreted as implying the prohibitions of contracts in futures and insurance markets. One consequence of all this confusion was that during this century both in the United States and England, the legislation and law on betting and gambling became ambiguous. The authors touch on this issue and make policy recommendations: to abolish restrictions on the industry, diminish the states' role in selling lotteries, and, at the same time, make legal distinctions capable of helping the tiny percentage of players who might be "addicted." The Brenners' recommendations on gambling are based on their conclusion that gamblers are neither "mentally ill" nor "criminals" and that gambling does not lead its practitioners to poverty. Rather, it is the other way around: some of the poor and the frustrated gamble. Looking at gambling in this way leads to questions about the nature of society: What do the fortunate do for those who are not? What is society's obligation to people who fall behind in the game of life? Answers to these questions require a discussion on the principles of equality, capitalism, the role of religious influence on society, topics that the Brenners have discussed in their previous studies, and they do so here too, putting gambling within its proper, historical context.
Roll the Bones tells the story of gambling: where it came from, how it has changed, and where it is now. This is the new Casino Edition. which updates and expands the global history of gambling to include a greater focus on casinos, from their development in European spas to their growth in Reno and Las Vegas. New material chronicles in greater depth the development of casino resorts on the Las Vegas Strip and their spread throughout the United States. A new chapter better places Atlantic City's casinos into their correct context, and new material accounts for the rise of casinos in Asia and online gaming. From the first modern casino in Venice (1638), casinos have grown incredibly. During the 18th and 19th century, a series of European spa towns, culminating in Monte Carlo, hosted casinos. In the United States, during those same years, gambling developed both in illegal urban gambling halls and in the wide-open saloons of the western frontier. Those two strands of American gambling came together in Nevada's legal casinos, whose current regime dates from 1931. Developing with a healthy assist from elements affiliated with organized crime, these casinos eventually outgrew their rough-hewn routes, becoming sun-drenched pleasure palaces along the Las Vegas Strip. With Nevada casinos proving successful, other states, beginning with New Jersey in 1976, rolled the dice. From there, casinos have come to America's tribal lands, rivers, and urban centers. In the last decade, gambling has moved online, while Asia--with multi-billion dollar projects in Macau and Singapore--has become a new casino frontier. Reading Roll the Bones, you'll get a better appreciation for how long casinos and gambling have been with us--and what they mean to us today.
What is the difference between a gambler and a speculator? Is there a readily identifiable line separating the two? If so, is it possible for us to discourage the former while encouraging the latter? These difficult questions cut across the entirety of American economic history, and the periodic failures by regulators to differentiate between irresponsible gambling and clear-headed investing have often been the proximate causes of catastrophic economic downturns. Most recently, the blurring of speculation and gambling in U.S. real estate markets fueled the 2008 global financial crisis, but it is one in a long line of similar economic disasters going back to the nation's founding. In Speculation, author Stuart Banner provides a sweeping and story-rich history of how the murky lines separating investment, speculation, and outright gambling have shaped America from the 1790s to the present. Regulators and courts always struggled to draw a line between investment and gambling, and it is no easier now than it was two centuries ago. Advocates for risky investments have long argued that risk-taking is what defines America. Critics counter that unregulated speculation results in bubbles that always draw in the least informed investors-gamblers, essentially. Financial chaos is the result. The debate has been a perennial feature of American history, with the pattern repeating before and after every financial downturn since the 1790s. The Panic of 1837, the speculative boom of the roaring twenties, and the real estate bubble of the early 2000s are all emblematic of the difficulty in differentiating sober from reckless speculation. Even after the recent financial crisis, the debate continues. Some, chastened by the crash, argue that we need to prohibit certain risky transactions, but others respond by citing the benefits of loosely governed markets and the dangers of over-regulation. These episodes have generated deep ambivalence, yet Americans' faith in investment and - by extension - the stock market has always rebounded quickly after even the most savage downturns. Indeed, the speculator on the make is a central figure in the folklore of American capitalism. Engaging and accessible, Speculation synthesizes a suite of themes that sit at the heart of American history - the ability of courts and regulators to protect ordinary Americans from the ravages of capitalism; the periodic fallibility of the American economy; and - not least - the moral conundrum inherent in valuing those who produce goods over those who speculate, and yet enjoying the fruits of speculation. Banner's history is not only invaluable for understanding the fault lines beneath the American economy today, but American identity itself.
The saga goes on as casinos, together with the government, continue to browbeat and persecute skilled gamblers. Gambling law is a complicated subject, but one that in some way affects thousands of players daily, if only in terms of what's allowed and what isn't during a casino visit. Of course, it gets taken to highest terms when you consider the cat-and-mouse game being played between the billion-dollar temples of chance and the world's most skilled gamblers who are looking to beat the casinos at their own game. The Law for Gamblers brings together decades of experience from the world's pre-eminent gambler's advocate, providing perspective gleaned from defending hundreds of casino-related criminal cases. With detailed discussions of subjects that include gambler taxation, the use of aliases, Indian gaming rules, and casino credit, and even hiring an attorney when necessary, The Law for Gamblers provides anyone who sets foot in a casino easy access to understanding their rights. Additionally, the collection of case law and statutory points of view within is unparalleled in the rapidly expanding area of gaming law. For students in gaming law courses, no more up-to-date analysis on the subject exists.
