Gambling, the risky enterprise of chance, is one of America's favorite pastimes. Office March Madness brackets, a day at the race track, a friendly wager, the random ridiculous Super Bowl prop bet, bingo night, or the latest media frenzy over the Powerball jackpot--all emphasize the ubiquity of this major economic force and cultural phenomenon. Approximately 70 percent of Americans regularly engage in some form of betting, amounting to over $140 billion...