Gambling, Essay Example

Tennessee was among last three states in the US, where any form of gambling was not legalized. Under the constitution of the state, lottery must involve consideration, prize and one chance. When gambling became legal, Tennessee allowed such gaming activities as bingos and raffles. Pari-mutuel betting is also legalized in the state.

State of Tennessee still does not allow the operation of casinos. However, some citizens believe that gambling is not a wrongdoing and, therefore, with time there is a chance that some forms of commercial gambling will succeed.

All over US poker is the mainstream game. No matter its strong popularity poker is not legalized in Tennessee but still hundreds of games are taking place throughout the state.

Residents also have access to various online poker games since there are no specific laws that forbid Internet games. However “in the financial markets money earned off-shore is not taxable until it is repatriated. A strong case can be made that the same is true for off-shore gambling.” (Humphrey, 2003) In 2003 during the World Poker event a resident of Tennessee ended up being a winner. Since there are no other gambling activities in the state, many people travel to neighboring states.

References

Humphrey, Ch. (2003). Online Gambling: Tax Aspects. Tax aspects of online gambling. Retrieved May 5, 2009 from http:/ /www.gambling-law-us.com/Articles-Notes/online-gambling-tax.htm.