VW Podcasts

Vig & Juice Ep.2: First U.S. Sports Betting

By Vela Wood

Vig & Juice is a podcast discussing the history and legality of gambling and sports betting in the US. Vig & Juice is hosted by three attorneys who practice Fantasy Sports & Gaming Law at Vela Wood and are principal agents at VW Agency, a talent & strategy consulting agency focused on fantasy sports and sports betting.

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In this episode, we discuss the first sports betting in the U.S. up to the Wire Act of 1961, including horse racing, the spectator sport known as pedestrianism, and using state lotteries to fund the Revolutionary War.

Time Stamps

  • .45 Episode Recap
  • 1:30 State Lotteries Funding Universities & Revolutionary War
  • 3:05 Horse Racing
  • 5:09 Pedestrianism
  • 7:11 Games of Skill
  • 8:50 States Outlawing, Early 1900s
  • 9:44 Nevada Legalizing Casinos & Sports Betting
  • 10:08 Federal Revenue Act of 1951 – Taxing Wagers
  • 10:37 Relationship to Economic Climate
  • 11:08 Taxing Vices, Prohibition
  • 12:10 Morality/Immorality of Gambling
  • 13:10 Connections to Organized Crime
  • 14:10 Transition to Wire Act
  • 14:47 Black Sox Scandal
  • 15:45 Baseball Commissioners

Show Notes

Contact Us

Email us at podcasts@velawoodlaw.com with any comments or suggestions!

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Vela Wood
Vela Wood is a boutique corporate law firm with a local feel and a global impact. We focus our practice in the areas of M&A, Private Equity, Fund Representation, and Venture Transactions.