Gambling on the American Dream provides a historical perspective for understanding the exponential growth of casinos in the United States since 1990, by telling the story of Atlantic City, New Jersey since the 1970s. Karmel uses oral history to focus on the human stories of the region in addition to the broader story of economic and social impacts. Karmel focuses on the role of the state and the evolution of its regulatory process and mechanisms.
In addition, the account explains the specific types of economic opportunities that have come about in Atlantic City, and their limitations. It addresses the Atlantic City experience and the use of revenue derived from casino gambling to demonstrate New Jersey's success in utilizing casinos as a vehicle for economic growth and state revenue source. Gambling on the American Dream charts the general history of the region using economic and development statistics as well as demographic and social indicators for both Atlantic City and Atlantic County from the 1970s through 2007. It highlights the role immigrants have played in shaping the new community and also traces the demographic changes across the region.