What’s in a Name: From Gambling to Gaming
Richard A. McGowan,S.J.
Boston College
Carroll School of Management
Chestnut Hill, MA 02467
617 552 3474 (office)
617 552 0433 (fax)
mcgowan@bc.edu
The Characteristics of a Game:
1.) a game must be voluntary;
2.) a game must have boundaries;
3.) a game must have uncertain outcomes.
Social/Political Issues Derived from the aspects of a
Game:
1.) “Freedom” - no addiction
2.) “Fairness” - equal chance of winning
3.) “Honesty”- no rigged results
Economics of “Gaming”
1.) It is part of the “Entertainment” Industry
a.) Where does “Gaming” stand? See Figure 1.
2.) Product Life Cycle:
a.) Need to develop new “games” - slots, video poker
b.) “Enticements”- meals, rooms, etc..
c.) Other forms of entertainment- Las Vegas, Foxwoods
3.) First Mover Advantage: “Entry Barriers”
Las Vegas is still the Capital of Gaming.
“Second Movers” need to develop a “niche” that the original
entrants left unfulfilled.
Types of Games:
I.) Agon: Games of Skill
- require “sacrifice” ; you need practice or can “work at it”
Ex. Sports, Board Games (Black Jack)
II.) Alea: Games of Chance
- mere luck, everyone ought to have the same chance of
winning.
Examples: Lotteries, Slot Machines
The Five “Waves” of Gaming Activity in US History
1.) 1607-1840s: State Sponsored Lotteries
2.) 1865- 1890s: National Lotteries
3.) 1920-1964: Pari-Mutuel Betting
4.) 1964- 1993: State Operated Lotteries
5.) 1993- present: Casino Gaming