History of sports wagering

The history of sports gambling in the US extends back to the times when the founders took risks. Back then gamblers bet on cockfights, makeshift horse races and bare fist fights. Colonists and Pioneers that landed in the united states from Europe and England specifically had betting within their veins because their ancestors gambled for generations. Therefore “sports betting” was obviously a normal part and parcel of the early American culture online gambling.

Today it is obvious that sports betting activities are the rage all over the world. With the simplicity of on-line sports betting, it’s made the activity much more convenient and cheaper. Though previously the sports betting segment was small, today it’s permeated virtually every element of society.

Horse racing was popular from the 19th and early 20th Centuries and was appreciated mainly by way of the upper class. But horse tracks started 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 over the gambling population and they were setting odds on horses that enhanced the betting handle. Bookies would lower the odds on other horses to increase their attractiveness when there seemed to be big money on a particular horse. By 1920s horse racing had reached a summit with more than 300 racetracks all over the US.

Professional baseball gained popularity from the late 1800s and “pool cards” came into use. The “Black Sox Scanal” which was “fixed” rocked the US and the public received an adverse view of sports bettors. Though gambling was illegal a lot of people considered sports gambling as a harmless victimless crime. College football games and basketball also gained popularity with bettors as baseball and boxing. Pool cards were as popular as ever even though the odds of these cards were in the bookies favor.

In most US cities, sports gambling activities were becoming a section of life and many youngsters were being exposed to the sports betting industry at a very young age. Some professionals have said, “Sports gambling was getting more popular than hot dogs!” Soon Leo Hirschfield started Athletic Publications that became the sports betting world standard for nearly three decades.

Established in 1930 this company set lines in sports events and distributed those to bookmakers in the nation through the telegraph or telephone He also published sports information that helped bookies produce better lines and gamblers make smarter decisions. The publication that was most popular was The Green Sheet. He was legitimate even though his clients were illegal bookies.

Sports gambling was finally legalized in Nevada in 1931 and also the states financial situation which had been in dire straits during those times, changed drastically. Legalized boxing and sports gambling activities caused it to be a hot spot for tourists and this altered its economic condition for the better read more here.

A resolution was passed in 1951 by 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 brought in the technology that revolutionized sports gambling.