Japan Considers Legalizing Gambling

For the first time, Japan is looking to possibly legalize gambling.

Casino gambling would "help promote tourism, encourage business, create jobs, and boost local development," Takeshi Iwaya, a lawmaker from the biggest opposition party, the Liberal Democratic Party, told the Wall Street Journal this week. "Neighboring areas are contemplating similar plans, so if we don't hurry, we may risk missing out on a big opportunity."

The Wall Street Journal noted that a group of 150 lawmakers from the ruling party and five opposition parties have come together in a rare show of unity to embrace gambling.  Japan could see casino games within two years. 

Gambling is not entirely illegal in Japan.  They do permit betting on bicycle, motorboat, motorcycle and horse racing as well as offering pachinko machines.

- Aaron Goldstein, Gambling911.com