Gambling
 Gambling    | |
|---|---|
| Interest of | Clermont Set |
Gambling (also known as betting or gaming) is the wagering of something of value ("the stakes") on an event with an uncertain outcome with the intent of winning something else of value.
Overview
In 2008, legal gambling activities generated gross revenues (the difference between the total amounts wagered minus the funds or "winnings" returned to the players) of $92.27 billion in the United States.[1]
In 2019, the gross gambling yield (GGY) in Great Britain was 14.12 billion pounds.[2]
Deep state
With the large amount of money involved and often dubious legal and moral standing, gambling involves significant deep state interests. Gambling often involves underworld figures. In the United States the activity was for decades controlled by the mafia. The profits functions as a bridge to the legitimate business world.
Additional parts of the industry is corruption of politicians and police, the possibility of laundering money through gambling winnings, and the potential for blackmail with gambling debts.
