The Herd with Colin Cowherd

Great Moments In Gambling's History Part III

May 16, 2025
In this lively discussion, Matt Mitchell, a producer at the Action Network, shares captivating tales from gambling's colorful past. Hear how lotteries played a key role in shaping America and the unique figures like George Washington intertwined with these initiatives. The evolution of off-track betting revolutionized horse racing, making gambling more accessible. Dive into Fyodor Dostoevsky's struggles with addiction and how his tumultuous life fueled literary genius. Packed with humor, this conversation covers the intersection of gambling and society's moral dilemmas.
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ANECDOTE

Lotteries Built Early America

  • Early America financed large public projects by running state authorized lotteries instead of direct taxation.
  • Examples include lottery funding for Washington, D.C. construction and Thomas Jefferson's debt relief.
INSIGHT

Gambling and American Democracy

  • America's puritanical values clash with its gambling obsession, shaping democracy's founding.
  • State lotteries were a pragmatic approach to funding before tax reluctance was widespread.
ANECDOTE

Horse Racing Democratized Betting

  • Horse racing's off-track betting (OTB) democratized betting beyond elites.
  • British OTBs sparked the creation of the tout, tipping services promising gambling profits.
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