Gambling funded America's early expansion

How America became a nation of gamblers

For thousands of years, humans have liked to gamble. What started as dice games and betting on chariot races became a way for states to generate revenue here in America. This article explores how states have been using gambling to pay for infrastructure and capital projects–and the cost it’s had on the citizens.

Browse a timeline of the fascinating history of board games in America.

Benjamin Franklin founded America's first lending library in 1731

Franklin convinced members of his intellectual club to pool resources and purchase books none could afford individually. The Library Company of Philadelphia was founded with 50 shareholders, each contributing 40 shillings, and served as the unofficial, de facto Library of Congress from the Revolutionary War until 1800.

Colonial Americans used tobacco, wampum, and land-backed notes to solve a chronic coin shortage

British coins rarely circulated in the colonies due to an unfavorable trade balance, forcing colonists to improvise. They traded in Spanish dollars, Native American shells, tobacco warehouse receipts, and eventually paper money backed by land rather than gold.

The bond market dates back to the 1100s in Venice

In the early 1800s, bonds were used to fund US railroads and canals in Great Britain. “Liberty Bonds” were sold during both World Wars in the 20th century. Learning about the early and modern history of bonds can offer a glimpse into how the modern bond market came to be.

Nevada legalized gambling in 1931

Las Vegas was originally a quiet town, but the legalization of gambling (along with relatively lax divorce laws) turned it into a Prohibition-era destination.

The origins of public education in the US stem from Puritan religious views

The 1647 Old Deluder Satan law reflects Puritan belief that illiteracy allowed Satan’s influence. The law—the first of its kind in the colonies—mandated towns of over 50 households hire a teacher and over 100 support a grammar school.

'Monopoly' was a progressive economic thought experiment before it was a board game

Before "Monopoly" became a best-selling board game, a woman named Lizzie Magie patented "The Landlord's Game" as a thought experiment to advance American economist Henry George's ideas about land ownership.

See a timeline of colonial settlement in North America

This interactive timeline uses archival maps, illustrations, and documents to trace early American history—from the failed 1590 Roanoke colony and Indigenous accounts of a devastating smallpox epidemic to the political tensions that culminated in the Revolutionary War.

The concept of life insurance likely originated in ancient Rome around the year 100 BCE

However, life insurance policies didn’t reach the Americas until 1759, when life insurance started being used to protect the families of Protestant ministers when said ministers died. This timeline of life insurance’s early history—and how it has evolved since then—provides more details.

Bills passed during the Civil War shaped postwar America

Despite the war with the South, Congress passed transformative laws like the Homestead Act and the Morrill Land-Grant College Act, which encouraged westward settlement and expanded higher education.

The roots of American law and the jury system trace back to medieval England

King Henry II established a jury of 12 local knights to settle land disputes in the 12th century, and his judges developed national laws common to everyone. American courts inherited this "common law" tradition directly from the English system.

The Ford Foundation helped expand America’s regional theater

In 1961, the philanthropic arm of Henry Ford’s massive empire seeded an initial grant of $9M to fund regional theaters around the United States. This was done to replicate the repertory theaters throughout Europe.

Mass transit in America began with horse-drawn omnibuses in New York City in 1827

The omnibus, a large horse-drawn stagecoach that ran a fixed route and carried a dozen riders at an affordable fare, was different from a private carriage because it carried everyone, not just the wealthy.

Public libraries are funded by a mix of local taxes, state grants, and federal programs

Property taxes form the backbone of most library budgets, covering staff and operations. State grants expand access to literacy and technology programs, while federal funding helps libraries in rural and low-income communities.

Why endowments took off at the turn of the century

After the Civil War, economic growth boosted philanthropy, much of it ending up in universities and colleges. Charles Eliot, the longtime president of Harvard, realized a university’s success was determined by how much money it could hold in the endowment. His approach to endowments radically changed their role in the modern university.

Americans' love of combining freedom and charred meat began in the 1800s

In the 19th century, politicians (particularly in Virginia) hosted large public barbecues to celebrate Independence Day and, of course, boost their own campaigns. When personal grills became common in the 20th century, the tradition moved into backyards and block parties, where it's still going strong today.

19th-century Americans discovered tipping in Europe

Tipping waiters was a custom in medieval Europe, where masters gave their serfs money for exceptional work. Wealthy Americans vacationing in Europe in the mid-1800s discovered the behavior and brought it back to the US.

The US officially adopted an income tax in 1913

The US first levied income taxes during the Civil War, but modern income taxes became an American fixture in 1913. Two years earlier, Congress passed the 16th Amendment to give the government the right to tax individuals' and businesses' income. The US still technically levies the same federal income tax now as it did then—though it's evolved.

See an image of the earliest surviving coupons used in America

This clip from the "Acquired" podcast shows an image of one of the original Coca-Cola coupons. The hosts argue that the coupons helped popularize Coca-Cola in its early days, making them a key component in the story of one of the world's most iconic brands.

Expert says 90% of lottery winners take a lump sum vs. an annuity

However, a lawyer specializing in lotteries told CNBC that lottery winners should opt for an annuity instead. Lump sums are immediately slashed in half, and while both options are taxed, there are ways to minimize the taxes owed on annuity payouts.

How venture capital firms came to be

The venture capital firm that kickstarted an industry.

A 1954 Supreme Court ruling helped quiz shows avoid regulation

When the Federal Communications Committee attempted to rein in giveaway shows, the Supreme Court ruled that quiz shows were not a form of gambling because contestants did not have to risk anything to participate. Some believe that the ruling prevented proper oversight of the industry as it became more popular.

John Marshall invested in western land speculation

Like many Virginia elites of his era, Marshall invested in large tracts of western land, including holdings in Kentucky and the Ohio valley. His financial interests mirrored the broader post-Revolutionary pattern of land speculation among political leaders.

DeWitt Clinton’s “Big Ditch” gamble transformed New York

Mocked as “Clinton’s Folly” and “Clinton’s Big Ditch,” New York Gov. DeWitt Clinton championed the Erie Canal against skeptics. His political drive secured funding for the project in 1817.

Trace how the Bill of Rights, inspired by centuries of political theory, took shape between 1774 and 1789.

After the Boston Tea Party, colonists switched to coffee, which became the main morning drink for revolutionaries.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

Venture capital is a form of funding provided to early-stage companies with high growth potential, typically in exchange for an equity (or ownership) stake

Learn more about the history of fireworks, which dates back to an accidental invention during an alchemist's quest for information about immortality.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

Jimmy Carter signed a 1978 bill that legalized home brewing, a move credited with kick-starting the craft beer industry.

Stanford built a Google Maps for the Roman Empire, revealing how much it cost to travel in the ancient world

Explore fun facts from the USPS, including unique post office buildings, a stamp that traveled past Pluto, and more.

Long before Major League Baseball began allowing instant replay for balls and strikes, an umpire reluctantly used the technology to determine whether a hit was a home run, a move that inadvertently ushered in a new era for the sport.

The word 'jazz' evolved from 'jasm,' 19th-century American slang for 'energy'

The American cockroach is actually from Africa, an apparent hitchhiker aboard ships carrying enslaved people, with evidence suggesting the bug may have arrived in the New World as early as the 1600s.

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

'Grand Canyon of the Yellowstone,' a work by American painter Thomas Moran, inspired Congress to establish Yellowstone National Park.

The United States is one of only around two dozen countries with a fully federal system of government, in which power is divided between national and state governments.

Gerrymandering works through two techniques: cracking opposing voters across districts to dilute their power, and packing them into a few to waste their votes in lopsided majorities.

Sears sold DIY house kits starting at $600 in its famous catalog from 1908 through the 1940s, resulting in roughly 10,000 'Sears and Roebuck houses' being built.

The term 'algorithm' originated from the Latinized name of al-Khwārizmī, a 9th-century mathematician whose works introduced Arabic numerals and the decimal-based numeral system to Europe and whose treatise 'Al-Jabr' gave algebra its name.

Before the current East Wing ballroom project, only two White House renovations in the past 100 years cost more than $10M.

44% of Americans say they pray at least once a day—discover how your state's religiosity stacks up against the rest of the country.

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

In 1939, baseball star Lou Gehrig delivered his inspirational 'Luckiest Man' speech after retiring due to the health condition that now bears his name.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

Power lines are dotted with large, brightly colored balls to improve the visibility of these thin wires to helicopters and small planes and help prevent potential crashes.

A vending machine run with Anthropic's AI went out of business after it was convinced to give away items for free and sell a video game console.