Government Gaming
• The Principality of Monaco, a country with more millionaires per capita than any country in the world, is primarily supported by gaming revenues.
5
Government Gaming in the English Colonies
• Because the colonies had no power to tax, they were dependent on help from England. In 1612, King James I chartered the Virginia Company of London to raise revenue for the benefit and support of the Jamestown settlement. The company was authorized to conduct lotteries throughout England in order to raise money. The lotteries were relatively sophisticated and included instant winners. • One colonist noted that the revenue from these lotteries were: “reall and substantiall food, by which Virginia hath been nourished.” • Eventually, the crown banned the lotteries because of complaints that they were viewed as robbing England of money.
6
Homer Law, Chtd. 2006
3
Made with FlippingBook - Online catalogs