Why Gambling Can’t Really Lose in California

Indian Tribes and Online Gaming Companies Have Two Big Measures on the Ballot—But They’ve Already Hit the Jackpot

You can’t miss the brand-new casino on Highway 99 in the southern Sacramento suburb of Elk Grove. It’s the size of a Costco, with the look of a new mall, next door to a still-under-construction hotel and spa.

And above the structure’s large entry doors bright blue signs declare, “Sky’s the Limit!”

That might seem like mere marketing, a sunny pun on the casino’s name, Sky River. But it actually describes the stark reality of gambling across California today: There aren’t many limits on the action.

Back in 2000, when state voters approved …

The Consumer Age Turned Americans Into Gamblers

When the Economy Shifted From Production to Consumption, How You Spent Money Mattered More Than How You Earned It

Today legal gambling in the United States is widely accepted and more prevalent than ever. But as recently as the 1950s, gambling was seen as a fundamentally un-American way to …

Risk-Taking Is Profitable—but Perilous in Our Interdependent World

From Freeway Speeding to Financial Instruments, Big Gambles Can Spin into Disaster

Risks are inherent in life and so, over the centuries, people have devised many mechanisms to pool and reduce risks.

These institutions range from families to religious tithing to formal …

The Mob, the Mayor, and Pinball

Why 20th-Century Law Enforcement Wielded a “Sledgehammer of Decency” on the Game Machines

Soon after I founded the Pacific Pinball Museum, an ex-police officer contacted me, offering to sell a rare artifact that was once confiscated by the Oakland Police force.  …

Fielding a Daily Fantasy Sports Team Is No Different Than Playing Online Poker

Websites Like DraftKings and FanDuel Bear All the Hallmarks of Gambling—Including Addiction

Tonight’s NCAA men’s basketball championship will also crown the champion in millions of fantasy pools. As the nation gets ready for the excitement or frustration that this game will bring, …

Your March Madness Office Pools Should All Be Legal

The U.S. Government Doesn’t See It That Way, But Everyone Could Benefit from the $9 Billion Dollars Americans Wager on College Hoops

Roughly 40 million Americans are expected to fill out a total of 70 million brackets and bet $9 billion on March Madness this month, according to data from the American …