Magician Arrested For Being A Bookie

WCVB:

'Bra trick' magician arrested for illegal gaming-

The School Committee chairman whose infamous “bra trick” at a meeting led to his resignation from the board was arrested this week on an illegal gaming charge, the Patriot Ledger reported.  Russell FitzGerald, 51, was released on personal recognizance after being arraigned at Brockton District Court Friday on one charge of allowing or taking bets, said Assistant District Attorney Russ Eonas.

    First off, can someone please explain to me why gambling is illegal?  There's not a huge difference between some of the derivative trading that goes on on Wall St and gambling.  Someone on Wall St would never say it was gambling.  They'd tell you they have a "system" that minimizes risk and maximises profits.  Last time I checked, that guy watching TVG in his underwear, betting on horse races has a similar "system".
     Secondly, is there anything better than being know as the "bra trick" magician guy?  Michael Richards will always be "that nigger guy", Steve-O is "That mother-fucking crazy guy", this guy is apparently the infamous "bra trick guy".  I'm not really sure what this is referring to but judging by how they set it up I'm sure it was some pussification of America bullshit. 
     Does this guy have horny house wives coming up to him at the grocery store begging him to do the bra trick to them? They make it seem like seem like I should instantly recognize Russell FitzGerald the way you instantly recognize Ted Kaczynski.  I have to assume that because I have no clue who the fuck he is he must be one of those male sex symbols that only women and gay men know exist; like Adam Lambert.