Inside Asian Gaming

inside asian gaming MAY 2015 54 Gambling and the law T he casino industry is one of the most heavily regulated businesses in the world. But even if they did not have that government oversight, casino owners would still be among the most careful business operators in the world. The reason is simple: It’s their money that’s at stake. In lotteries, parimutuel betting and round (non-banking) games like poker, gamblers wager against each other, with the operator taking a piece off the top. Casinos make almost all of their revenue from banking games. Craps in casinos is not street craps: Players are betting against a fund of money, a bank. Casinos act as the house, fading all of the bets of their customers. A cheat at poker steals from other players. A cheat at blackjack steals from the casino. To see how careful the casino industry is compared with something that we would normally think is more important, look at the relatively few malfunctions there have been with slot machines Street dice is a simplified version of casino craps played without the benefit of a table. Internet Gambling? No Problems By Prof. I. Nelson Rose Prof. I. Nelson Rose is recognized as one of the world’s leading experts on gambling law and is a consultant and expert witness for governments, the industry and players. His latest books, “Internet Gaming Law” (1st and 2nd editions), “Blackjack and the Law”, “Gaming Law: Cases and Materials” and “Gaming Law in a Nutshell” are available through his website, www.GamblingAndTheLaw.com .