Wagering, as now practised by politics and contracts, is become a
branch of assurances; it was before more properly a part of gaming,
and as it deserved, had but a very low esteem; but shifting sides,
and the war providing proper subjects, as the contingencies of
sieges, battles, treaties, and campaigns, it increased to an
extraordinary reputation, and offices were erected on purpose which
managed it to a strange degree and with great advantage, especially
to the office-keepers; so that, as has been computed, there was not
less gaged on one side and other, upon the second siege of Limerick,
than two hundred thousand pounds.

How it is managed, and by what trick and artifice it became a trade,
and how insensibly men were drawn into it, an easy account may be
given.

I believe novelty was the first wheel that set it on work, and I
need make no reflection upon the power of that charm: it was wholly
a new thing, at least upon the Exchange of London; and the first
occasion that gave it a room among public discourse, was some
persons forming wagers on the return and success of King James, for
which the Government took occasion to use them as they deserved.

I have heard a bookseller in King James's time say, "That if he
would have a book sell, he would have it burnt by the hand of the
common hangman;" the man, no doubt, valued his profit above his
reputation; but people are so addicted to prosecute a thing that
seems forbid, that this very practice seemed to be encouraged by its
being contraband.