Gambling

If you thought Vegas was where the big gamblers went to play, you're behind the times. Sin City has been blown past by another exotic destination once infamous for corruption and mob activity. But you probably won't be heading there to play baccarat any time soon.

Theodore J. "Ted" Forstmann died on Sunday from complications related to brain cancer. The private equity pioneer's firm, Forstmann Little & Co., was one of the first to engage in leveraged buyouts -- using borrowed money to buy companies.

There's Herman Cain's 9-9-9 Plan. There's the Buffett Rule. But Pius Heinz's All for Me deal is our favorite. Heinz recently won the World Series of Poker in Las Vegas, earning $8,715,636 -- tax-free.

You don't need to pony up a lot of cash for a victorious day at the track. Just ride these tips from Dave Litfin of the Daily Racing Form and Andy Serling of the New York Racing Association.

The severity of America's gambling addiction isn't too far behind the nation's drug problem, and it's growing. In 2007, Americans lost more than $92 billion gambling, almost 10 times more than what U.S. moviegoers spent on tickets -- and about nine times what they lost 15 years earlier.

As state budgets strain under huge debt loads, they are counting increasingly on "sin taxes," one of the few reliable sources of revenue in these uncertain economic times.

Las Vegas Sands benefits from being more geographically diversified than its major competitors. With a casino resort presence that spans the U.S., Macau and Singapore, LVS is a strong player that can ride out local downturns, and one stock analysis firm thinks its stock is undervalued by 10% to 15%.

Lotteries are big businesses in most states, and they can provide windfalls for both the winning ticket-holders and state coffers. But which states give the most back to ticket-holders and through government services?

March Madness is winding down, and if you've played the brackets, this stat from the National Center for Responsible Gaming (NCRG) probably won't surprise you: 75% of college students have gambled in the last year. Both legal and illegal gambling have high addiction rates....

Singapore is expected to overtake South Korea and Australia this year to become the second-largest Asia-Pacific casino market behind reigning leader Macau. For U.S. investors looking to profit, Las Vegas Sands looks nicely positioned.