Exchanges, bubbles and central banks · 1600s–1790s
1638
The Ridotto: a government-run casino
Venice opens a public gambling house during Carnival so the state, not back rooms, takes the cut.
In 1638 Venice's Great Council opened the Ridotto, a wing of a palace where anyone in a mask could gamble during Carnival. Only nobles could deal the games, and the house kept an edge on every one.
It ran until 1774, when the city closed it over the fortunes lost there. It's often called the first casino: a place open to the public that exists to run games of chance for profit.
💡 Why it made sense then
Gambling was happening anyway. A licensed house let the state control it and collect from it.
🎮 In Journey Shares
The city's casino works the same way: every game pays back a little less than it takes in, and you play with chips bought at the cage.
✏️ Suggest an edit🕘 Edit history
Practise with $10,000 in play money
Free. No real money involved.