Word: money
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Dates: during 1980-1989
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Freddy's grim vision has not quite come true yet, but the extent of gambling among the American people is already as striking as the figures on the amount of money they bet. Dr. Howard Shaffer of Harvard's Center for Addiction Studies figures that the proportion of American adults who bet at least occasionally has risen from 60% two decades ago to 80% now; other estimates range up to 88%. Nor is betting confined to adults: Henry Lesieur, a sociologist at St. John's University in New York City, found in a 1987 study that 86% of New Jersey...
...relive every race, every game, to figure out where I miscalculated." He never did figure it out; by 1985 he had run up debts of $200,000 and joined Gamblers Anonymous. Family and friends thought he had kicked his habit, but in fact he had simply run out of money. In 1987, as his insurance business began to recover, Marc started going to the track again. He conned his wife into letting him take out a second mortgage on their home, telling her it was for investment; he lost the money gambling. His wife threatened divorce, and a business acquaintance...
...Howie, 53, board chairman of a Los Angeles advertising agency, has been earning good money legitimately since age 15, when he already owned a Long Island, N.Y., parking lot. Says he: "I used to walk around with $10,000 in my pocket, but my father-in-law had to pay the $300 mortgage each month." In New York he would borrow $30,000 to $50,000 a week and lose about 80% of it over a weekend. "Then I'd steal," he says. Sometimes he would pilfer racks of dresses off the streets in Manhattan's garment district and sell...
...against garage doors. At 13, she shot craps with boys in the co-ed locker room of Ralston Junior High in Belmont, Calif. As a young married woman, she started going to Las Vegas and the poker tables at Gardena, Calif. "All of a sudden, it wasn't the money anymore," she says. "It was the action, the high." On one occasion, she told her young son to wait on a street corner after school, and she would pick him up at 2:30 p.m. for a dental appointment. She went to Gardena instead, and her husband found...
...TMFONT 1 d #666666 d {Source: Christiansen/Cummings Associates}]CAPTION: SERIOUS MONEY...