Gambling Gambling United States

The history of gambling in the United States shows how the public and the government assess the progression of the lottery and gambling. In 1984, all forms of gambling accounted for less than $15 billion in revenues. In 1995, these gambling activities generated $55.3 billion in revenues, nearly a 400 percent increase in 11 years. Gambling had become the largest component of the American entertainment industry. There have been five waves of gambling activity that have occurred in US history. The first wave of gaming activity (1607-1840s) that occurred in the US began with the landing of the first settlers, but became much more widespread with the outbreak of the Revolutionary War. During this time, lotteries were the approved form of gambling.

For example, both Yale and Harvard ... used lotteries to build their dormitories. In 1747, the Connecticut legislature gave Yale a license to raise £7,500 while Harvard waited until 1765 to win approval from the Massachusetts' legislature to conduct a lottery worth £3,200. It is interesting to note that Harvard's fundraising lottery was much less successful than Yale's lottery. The primary reason for the failure of Harvard's lottery was that it had to compete with lotteries that were being operated to support troops which were fighting the French and Indian War. However, it certainly appears that Harvard has learned from its past mistakes, as the timing of its fund-raising activities has greatly improved! It should also be noted that during this wave of lottery activity, no state ever operated its own lottery. Private operators conducted lotteries. An organization or a worthy project such as the Erie Canal received permission from state legislatures to operate a lottery. The funds from the lottery were used to support the 'worthy'