Tuesday, December 11, 2012

Regency Gambling Clubs

The story of Crockford's Club.
Take William Crockford, who began his career as a London fishmonger and ended it, half a century later, as perhaps the wealthiest self-made man in England. Crockford managed this feat thanks to one extraordinary talent—an unmatched skill for gambling—and one simple piece of good fortune: to be alive early in the 19th century, when peace had returned to Europe after four decades of war and a generation of bored young aristocrats, who a few years earlier would have been gainfully employed in fighting Napoleon, found themselves with far too much time on their hands.

The result was a craze for heavy gambling that ran throughout the notoriously dissolute Regency period (c.1815-1838). The craze made Crockford rich and bankrupted a generation of the British aristocracy; at the height of his success, around 1830, the former fishmonger was worth the equivalent of perhaps $160 million today, and practically every cent of it had come straight from the pockets of  the aristocrats whom “Crocky” had lured into the luxurious gambling hell that he had built on London’s fashionable St. James’s Street. So successful was Crockford at his self-appointed task of relieving his victims of their family fortunes that there are, even today, eminent British families that have never properly recovered from their ancestors’ encounters with him. (Read entire article.)

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