Tero
Legend
Loyaler
The roots of the modern casino stretch back to 17th-century Venice.
Long before slot machines and blinking lights, there was the Ridotto.
When most people think of casinos, they picture the neon lights of Las Vegas or the grandeur of Monte Carlo. But things haven't always been that luxurious.
The first legal and state owned casino was founded in 1638 after Venetian officials found its attempts to stop illegal gambling futile, and so the Ridotto was born.
The story does not reveal if the gambling on the streets continued but probably it did. The common man had no place at Ridotto. It halls and tables were reserved for the upper class with deeper pockets.
Image credit: By Didier Descouens - Own work, CC BY-SA 4.0
Being part of the upper class doesn't guarantee wisdom and the casino took advantage of that. Its early games included a game called Biribi. A lottery type of game where the player had to bet on one of 70 possible outcomes. The game's RTP (Return To Player) has been told to been only 91.4%. If there was a lucky winner he would collect his bet multiplied by 64. But chances of that happening were slim, about 1% or so.
But times turn...
Ridotto closed its doors in 1774 well over hundred years under its belt. Why? In that time Ridotto had grown to be quite lavish at a time when the surrounding economy was struggling. The official explanation was that Ridotto was found to be corrupting the morals of the public, but in reality it had become less profitable since illegal gambling was still alive and maybe even growing.
The house were Ridotto operated is still standing as part of Ca' Vendramin Calergi.
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