If you’re a fan of blackjack, slots, or roulette, you’re in for a treat. We’ve scoured the globe and found some of the most incredible gambling facts that will make you rethink everything you thought about gambling. Gambling is not just about luck — it’s a skill that can be mastered with practice, strategy, and curiosity!
Let’s take a look at five facts about gambling that will have you reconsidering whether you too should take a chance at some luck in your life!
#1. Gambling has been around for thousands of years
Gambling is the act of playing a game with an uncertain outcome with the primary intent of winning money or material goods. The word “gambling” can also mean to gamble, risking money, possessions, or anything of material value on the outcome of something that can result in a gain or loss. People have been gambling for thousands of years. If you traveled back in time, you would be hard-pressed to find someone who could play blackjack without wining or losing money, but you can bet on the slot machines right now. This trend is on the rise — with revenue forecast to hit $21 billion by 2024. This surge is due to the popularity and accessibility of online slot machines, which allow players to choose between thousands of possibilities on the fly.
The first casinos were very common in European countries prior to the Industrial Revolution. Famous gambling hotspots include Las Vegas, Monte Carlo, and the Isle Of May in Great Britain, and Isle Of Palms in the United States. Anyone with a bit of money could play a game of chance — and people did! However, it was illegal at the time to make money from game operations.
Franklin D. Roosevelt was a passionate gambler as a young man — and while in college, he was arrested for gambling on horse races. Taking it upon himself, Roosevelt gave up gambling for a while, and to this day, it’s written into his honor that he never lost a dollar in his life! While gambling was outlawed in most countries around the globe for several decades, countries like Puerto Rico, Macau, Singapore, and most places in the British empire have legalized and allowed for gambling to be played.
No country has legalized online slot machines as of yet, and there are a handful of countries that outright forbid such games. However, this is changing — at least, it was last year.
#2. Gambling was once considered a sin
In the Middle Ages, gambling was considered a sin and was used as a form of entertainment for noble people. It’s one thing for Harvard millionaires to play blackjack at Vegas’ presidential suites or play slots at the Borgata, along with celebrities such as Eva Longoria and Alex Rodriguez. It’s another for mighty Alexander the Great of Macedonia to have a dice crisis on his hands — and claim it happened due to frayed nerves.
The art of gambling can be traced back thousands of years since cavemen started playing cards and dice, betting on wins, and wagering on keeps. It’s referred to as “payment in kind” gambling, a strategic game of chance that relies on intuition and strategy.
#3. There are many superstitions associated with gambling
Gambling can also be done by “gaming”, which is a non-wagering contest with rules and an element of chance. This activity forms part of a gambling session which looks something like this:
When it comes to gambling, many of us tend to pick on someone else when we make a loss: “I lost $100 at the slots! How could you? I’m such a good player”.
Or worse, we report our losses in front of others — or worse still, as a joke.
But, no matter what your circumstances are, how you play the gacha (lucky draw) in casino gambling:
Learning to keep a cool head during your gacha sessions should be a habit you aim for. Knowing that you can beat everyone at something is invaluable when it comes to knocking out your losses. Casino gambling involves both strategic decisions and a little luck. Luck is the element of chance that is recognized by the game as it runs. Planning ahead is essential.
#4. Casinos were once called “Gaming Houses”
Casinos started out as “gaming houses”, which were essentially illegal gambling dens. Back in the 1600s in England, gambling was a crime, but these gaming houses were popping up all over the place. They started to become popular because people could gamble without fear of getting in trouble with the law.
Casino gambling was a big boon to the American economy. In fact, the Las Vegas economy was the 16th largest in the world in 1960, and the casino generated $6.5 billion that year.
Later on, people realized they were a lot more likely to spend money in casinos if there was gambling involved. So, in the 1870s President Ulysses S. Grant issued a small-business tax incentive to businesses who created gambling facilities as part of their service. During this time — blackjack is how casinos started to take off, as it was thought that playing blackjack gave one an edge over the house.
Unfortunately — casinos didn’t always win.
#5. The first legal casino was in Nevada, not Las Vegas
Up until 1931, gambling was illegal in the US. In that year, the state of Nevada passed the “Board Bill” which said that gambling was allowed in the state as long as it was on the premises of a licensed hotel and that tax revenue from the casinos could be used to fund education. At the same time, 23 other states — including California, Pennsylvania, and New York — banned gambling altogether. The 24th Amendment was passed in 1936, which banned gambling outright in the US.
Hawaii and Nevada legalized gambling in December 1960, thanks to the efforts of Governor Earl Warren, who saw that tourism and the growth of Las Vegas were becoming a significant economic impact for the state.
Casinos came to Las Vegas in the 1970s, but it was not until Steve Wynn opened his world-famous casinos that the casino boom would truly take off. He created a consumer craze through his combination of scandal, excesses, and sheer audacity that would set the standard for all casino operators.
It wasn’t until the 1990s that American casinos reached their peak. At that time, slots, blackjack, and other casino games became popular in the US and across much of Europe. Gambling demolished all previous notions about wealth and status.