SINCE THE LATE 1970S THE UNITED STATES HAS experienced a boom in legalized gambling. Once confined to Nevada and a handful of other states, some form of legalized gambling-lotteries, casinos, card rooms, horse racing, or video poker-can now be found in every state in the union, with the exception of Hawaii and Utah. On first inspection, the current boom may appear as something of an anomaly in a nation settled by Puritans, who shunned the temptations of luck and instant gratification in favor of hard work and bootstrap ascendancy up the economic ladder. The much—vaunted Protestant work ethic is certainly an ingrained feature of American life, but gambling has deep roots in the United States and has enjoyed persistent popularity despite periods of prohibition brought about by social reformers, politicians, and religious crusaders. Gambling's popularity betrays countervailing cultural values of risk, competition, and the desire for...