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Comparative Analysis of the Gambling Industry of Usa and India.

In: Business and Management

Submitted By anupamsabat
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Comparative analysis of the gambling industry in India & the United States of America (USA).

Study @ New York University.

By: Anupam Sabat, 3C BBA Amity International Business School, Noida.

Acknowledgement

At the onset, I would like to thank our esteemed faculty at Amity International Business School, Prof. Dr. Arun Sacher, for his encouraging words and his guidance. It was really he who constantly motivated us & pushed us to our limits & in the process, helped us realize & scale newer & higher peaks.

He constantly challenged us to strive for excellence & in doing so, enabled us to perform to the best of our abilities.

INTRODUCTION

Gambling is one of the oldest industries in the world.

According to the UK Gambling Act 2005, betting or gambling means ‘the making or accepting of a bet on the outcome of a race, competition or other event or process; the likelihood of anything occurring or not occurring; or whether anything is or is not.’ It is regarded by some as a vice and sinful activity which corrupts the society. Others view gambling as a harmless form of entertainment (I, personally, believe in the latter notion). Some also look at it in economic terms. Legalized casino gambling, be it in Las Vegas, London and/or Macau rose out of the desire for economic stimulus. Overall, society has taken a cautious view of gambling. Only limited types of games are legalized. The reason for gambling being heavily regulated (and rightly so) arises from the concern of criminal involvement. Because of the huge amount of cash involved, gambling is an attractive bait for criminals. The regulation of gambling is unusual because unlike any other industry, society regulates the gambling industry like no other business.

Regardless of viewpoint, there is little doubt that gambling (which includes betting) is a very...

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