Online Gaming: The Omnipresent Phenomenon
It’s ubiquitous and yet it is an elephant in the room. Online gaming is a popular practice throughout the world, despite the national or state regulations that have plagued it for a while.
However, this element of uncertainty surrounding the legalities related to this flourishing sector isn’t a healthy sign for the industry as a whole. Not only does this make it difficult to judge the impact of this sector, it also impedes planning and strategizing for the future.
Global Gaming Trends 2011: The Clear Picture
Despite the lull in the world economy, the global casino revenues climbed 5.2% to US$117 billion in 2011, marking a 2.2% rise over the figures reported in the previous year and the strongest development in the past decade. Three factors are expected to drive the global casino industry, enabling it to register robust profits in the forthcoming years:
- Growth of personal and disposable incomes in the developing nations
- The ever expanding middle class section of the population
- Expansion of the casino sector in the promising markets
- Gradual global economic recovery
- Growing acceptance of casinos
Singapore – The Perfect Counterpart to Macau
Despite being around for merely a couple of years and with barely two casinos, the revenues of Singapore’s gaming industry are set to surpass the revenues of the Las Vegas Strip. Hard to believe, but true!
When the Singapore government, known for its stringent legal and moral conduct, issued licenses to a couple of casinos in 2010, it took the world by surprise. The initial idea was to enhance the experience of tourists and provide them with a wide range of entertainment options and services. The strategy was to boost the tourism of the island.
Free Market: A Retrospective Through the Eyes of Bollywood
There is a trend of period movies in Bollywood this season! Directors and producers are lining up to recreate the magic of the golden age of the 70s and the 80s. From ‘The Dirty Picture’ to ‘Once upon a time in Mumbai’, it’s raining period movies all around. In keeping with this trend, you are about to be taken back in time to reminiscence how life was for the common man in these decades. You will also have a more substantial idea of how markets functioned and what it meant for the people of India, Bollywood ishtyle!
Macau’s Casino Industry: Driving the Economy!
When it surpassed Las Vegas as the world’s biggest gambling industry in 2006, that too by a huge margin (more than 5 times the revenue of Las Vegas), it left everyone amazed. And since then Macau’s gaming industry hasn’t looked back.
With a land area of 29 sq kms, Macau’s natural environment lacks major resources like forests or woodlands, arable land and pastures. This makes Macau’s its economy largely dependent on the service industry, of which a large share of the inflows is generated by the tourism and gaming industries.
Go Goa!!!
Which city has the highest per capita income? Some would say New Delhi. After all, it is the capital of the country. Maybe you would think Mumbai – the business capital of India. No, it is neither. You may be surprised to know that Goa has the highest per capita income, according to a report released by the Ministry of Statistics and Programme Implementation in May 2012. With its per capita income at Rs. 1,92,652, Goa is way ahead of the national average of Rs. 60,972 (more than three times the national average figure!).
Go Goa!!!
Which city has the highest per capita income? Some would say New Delhi. After all, it is the capital of the country. Maybe you would think Mumbai – the business capital of India. No, it is neither. You may be surprised to know that Goa has the highest per capita income, according to a report released by the Ministry of Statistics and Programme Implementation in May 2012. With its per capita income at Rs. 1,92,652, Goa is way ahead of the national average of Rs. 60,972 (more than three times the national average figure!).
Equal Income Distribution – Characteristic of Free Economies?
The wealthiest countries are those that have free economies. There is a popular belief that the more capitalist economies in Europe, North America and even Asia (like Japan) have greater financial inequalities. But the true picture reflects a different scenario altogether. Such countries are better off than the socialist economies when it comes to distribution of wealth.
Gambling – A Boon or A Curse?
Gambling in India seems to have a negative connotation. The very mention of the word conjures up images of people losing their life’s earnings (and even their wife… courtesy The Mahabharata). Gambling is perceived as an addiction that could lead to misery. Is that what gambling is all about?
Asian Casino Industry: A Good Bet?
Despite most countries across the globe struggling to emerge from depression and financial crisis, the Asian casino industry has something to cheer about and celebrate. The gambling industry is severely impacted by any slump in the economy. The reason is that gambling revenues are totally driven by consumer spending behaviours, which in turn is dependent heavily on disposable income. While the casino industry has been hit by the economic downturn, the projections for Asia are far from dismal.
Rakesh Wadhwa. Ever since, I was a school boy, I knew India was on the wrong path. Socialism was just not what we needed to get ahead. Government controlled our travel; government controlled our ability to buy and sell; and government controlled our freedom to move our money. My life has focused on the inherent rights people have. When I was in college, I never understood, what the governments meant by their "socialistic attitude". If people are free to buy, sell and move their capital themselves without any restrictions by state, then the welfare of people is inevitable & hence the countries they live in will become wealthy. The government has no right whatsoever, to point a finger at me or my business. I am not a revolutionary. I just want to light up my cigarette and not get nagged about it. I believe in non-interfering attitude to attain more. 
The Bastiat Award is a journalism award, given annually by the International Policy Network, London. Bastiat Prize entries are judged on intellectual content, the persuasiveness of the language used and the type of publication in which they appear. Rakesh Wadhwa won the 3rd prize (a cash award of $1,000 and a candlestick), in 2006.
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