History of sports wagering

The historical past of sports gambling in the US extends back to the occasions when the founders took risks. In the past bettors bet on cockfights, makeshift horse races and bare fist fights. Colonists and Pioneers that arrived in the US from Europe and England in particular had betting within their veins because their ancestors gambled for generations. As a result “sports betting” was obviously a natural part and parcel with the early American culture.

Today it is obvious that sports betting activities are the craze around the globe. With all the ease of online sports betting, it has made the sport all the more convenient and cheaper. Though previously the sports betting section was small, today it has permeated almost every facet of society.

Horse racing was popular in the 19th and early 20th Centuries and was enjoyed mostly by way of the upper class. But horse tracks began to appear after the Civil War and very quickly gamblers coming from all sectors of society flocked to those racing establishments. Bookies had a hold on the gambling population and in addition they were setting odds on horses that enhanced the betting handle. Bookies would reduce the odds on other horses to increase their attractiveness when there seemed to be a lot of money for a particular horse. By 1920s horse racing had reached a summit with more than 300 racetracks all over the US.

Professional baseball became popular in the late 1800s and “pool cards” came into use. The “Black Sox Scanal” which had been “fixed” rocked the US and the public received a negative view of sports bettors. Although gambling was against the law a lot of people regarded sports gambling to be a harmless victimless crime. College football games and basketball also became popular with bettors as baseball and boxing. Pool cards were extremely popular even though the odds of these cards were in the bookies favor.

In most US cities, sports gambling activities were transforming into a section of life and most youngsters were being exposed to the sports betting industry in a very early age. Some professionals have said, “Sports gambling was getting more popular than hotdogs!” Soon Leo Hirschfield started Athletic Publications that became the sports betting world standard for almost 30 years.

Established in 1930 this company set lines in sports events and dispersed those to bookmakers within the nation via the telegraph or telephone He also published sports information that helped bookies produce better lines and gamblers make better decisions. The publication that had been most widely used was The Green Sheet. He was legitimate even though his customers were illegal bookies.

Sports gambling was ultimately legalized in Nevada in 1931 and the states finances which had been in dire straits at that time, changed drastically. Legalized boxing and sports gambling activities made it a hot spot for tourists and this also changed its economic condition for the better.

A resolution was passed in 1951 by way of the Congress that imposed a 10% tax on every sports bet. New regulations permitted the bookies to come out of the dark and work openly. Turf clubs were the initial legal sports books in Nevada and they were sometimes called “sawdust” rooms. In 1980s Roxborough became a significant element of sports gambling and ushered in the technology that revolutionized sports gambling.