History
The game dates back at least to the beginning of the Italian lottery, in 1530. "Policy shops", where bettors choose numbers, were in the United States prior to 1860. In 1875, a report of a select committee of the New York State Assembly stated that "the lowest, meanest, worst form ... gambling takes in the city of New York, is what is known as policy playing." The game was also popular in Italian neighborhoods known as the "Italian lottery", and it was known in Cuban communities as bolita ("little ball").
By the early 20th century, the game was associated with poor communities, and could be played for as little as $0.01. One of the game's attractions to low income and working class bettors was the ability to bet small amounts of money. Also, unlike state lotteries, bookies could extend credit to the bettor. In addition, policy winners could avoid paying income tax. Different policy banks would offer different rates, though a payoff of 600 to 1 was typical. Since the odds of winning were 1,000:1, the expected profit for racketeers was enormous.
Read more about this topic: Numbers Game
Famous quotes containing the word history:
“My good friends, this is the second time in our history that there has come back from Germany to Downing Street peace with honour. I believe it is peace for our time. We thank you from the bottom of our hearts. And now I recommend you to go home and sleep quietly in your beds.”
—Neville Chamberlain (1869–1940)
“... that there is no other way,
That the history of creation proceeds according to
Stringent laws, and that things
Do get done in this way, but never the things
We set out to accomplish and wanted so desperately
To see come into being.”
—John Ashbery (b. 1927)
““And now this is the way in which the history of your former life has reached my ears!” As he said this he held out in his hand the fatal letter.”
—Anthony Trollope (1815–1882)