During the 1990s the gambling industry transformed its image by referring to itself as the 'gaming industry'. While critics of the industry scoffed at this transformation as merely a meaningless name change, it has had profound effects on the business and public policies that face the newly transformed gaming industry.The book is divided into three parts. The first part focuses on the historical and cultural forces that have shaped the new gaming industry. Emphasis is placed on the two types of games (agon - games of skill, and alea - games of chance). It is shown that the types of games a society embraces have a significant impact on whether gambling is permitted to enter the mainstream of the entertainment industry. The second part of the book analyzes how each segment (pari-mutuel betting, lotteries and casinos) competes in the new industry. The political and social implications of gaming are the focus of the final part, which concludes with a series of recommendations that will enable the industry, public policy officials and anti-gambling activists to construct policies that mitigate some of the problems associated with gambling. The book will be of particular interest to students, practitioners and scholars in public policy. It will also be pertinent to readers in economics, political science and business.