How did Frank and Jessie James Manage to Spend all that Loot?

As with similar stories about Old West outlaws, we hear about the banks and trains they robbed and the amounts of money they
stole. Take Jesse and Frank James, who stole tens of thousands of dollars — what did they do with all that money? Unlike folklore they didn’t share the loot with the poor or anybody else.

The money was divided up among members of the gang. Both Frank and Jesse spent a lot of time and money at the racetrack betting on the horses, going to gambling halls, spending time and money in saloons and bordellos. The rest they squandered foolishly.