• December 7, 2021

A Short History of Gambling

Since the beginning of time, man’s ability to analyze risks and recognize patterns has been what has propelled human civilization forward. Man is naturally risk-taking, which makes our predilection for gambling and betting a reasonable part of our general attitude.

But what happens when you mix in complex algorithms that are guided by the same principle? What happens when you mix in an almost religious belief that the market can be understood?

What happens when you mix in a large pool of money? Welcome to the casino. This article will attempt to shed some light on this unique world of gambling. This is not an exhaustive history of gambling or even an overview of the industry, but rather a series of events that have shaped the modern casino.

Ancient Gambling

While many believe that ancient Greeks invented gambling, the evidence shows that it existed long before them. Dice games were common in the Roman Empire and were also popular in the early European Middle Ages. The term “gambler” first appeared in English in 1596, but the idea that people gambled for fun was not born until the 1800s.

Gambling in the Middle Ages

The first casinos were not designed for entertainment. Instead, they were used as a means to raise money to fund wars and religious crusades. Some of the most famous casinos are located in Europe. The first casino in Italy was built in the late 1300s. This casino was called a “Ridotto.” In the 1500s, casinos began to appear in England, France, and Germany. The gambling in these early casinos was very different from modern casinos. In the 1500s, there was a lot of betting on horse races. The casinos were used to raise money for the government. People who did not win at the races would often go to the casinos and place bets on the outcomes of the games.

The first modern casino

The first modern casino was built in 1638 by the Venetian government, it was later closed in 1774. In 1891, a new casino was built on the same site. The casino was closed in 1993, after a series of fires and terrorist attacks. Venice has a long tradition of gambling and gaming. The origin of this activity is closely related to the history of Venice itself. Now, we know that 1600 hundreds might not sound that modern, but casinos have changed surprisingly little in the last few hundred years until just before the 2000s. This was when online casinos came into being, and changed the whole casino landscape. We implore you to read our companion article about online casinos in India next.