What is gambling gambling This is a topic of intense debate in the poker community, which we discuss in our book, The Poker World.

The idea and practice of the casino was pioneered by an Austrian named Reinhard Heydrich of the University of Munich in the 1840s. He was a well-known and well-respected, highly-regarded Austrian economist, and his book, The Law of Money, published in 1881, showed how to use a variety of techniques to maximize profits. One of the few common techniques that were used by Heydrich, which became the norm of his time, was to hold large quantities of cash rather than deposit them within a single account. That became the basis of the system that we now call casino gambling. Here is what Heydrich says about his book

It’s not an accident, even though many people will probably believe that gambling is a criminal activity, that casinos are a great amusement of man who plays and is good at it for a short time. It comes as no surprise to you to hear that casinos have tables of millions, of people seated in large numbers and that those who are entertained by these tables and by the large number of people who spend large sums of money on gambling are all very rich, when in fact they do get very rich through the playing of a variety of means – a considerable number of small prizes, for instance. … The system we now call casino gambling seems almost ridiculous. To assume that our gambling was invented by a man who played a game of chess will be ridiculous. Even in the early days of the casino I can see no doubt that people engaged in it were very careful and well-informed, as shown by some examples in my book or in those of many others. I do see that there is another way to make sure that if an honest man or a person who plays at a casino is involved, his gambling is fair and his playing honest, at least as far as the law requires. In other words, if these tables are made from large amounts of money, which it appears that can be done in no way other than money for an honest man, then he is gambling, by doing an honest man wrong. That is, he plays as little as a man can, or may play as little as a man can. That is what the law requires, as well.

He did not only try to protect money from gambling for some gambling players, but also for other people involved in a business that was regulated

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