History of sports wagering
The history of sports gambling in the US extends back to the occasions when the founders took risks. Back then gamblers bet on cockfights, makeshift horse races and bare fist fights. Colonists and Pioneers that arrived in the united states from Europe and England in particular had betting in their veins as their ancestors gambled for generations. As a result “sports betting” was obviously a normal part and parcel with the early American culture.
Today there’s no question that sports betting activities are definitely the rage all over the world. With all the ease of online sports betting, it’s made the sport all the more convenient and cheaper. Though previously the sports betting section was small, today it’s permeated almost every facet 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 began to appear after the Civil War and very quickly gamblers from all sectors of society flocked to these racing establishments. Bookies had a hold over 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 enhance their attractiveness when there seemed to be a lot of money on a particular horse. By 1920s horse racing had reached a peak with more than 300 racetracks throughout the US.
Professional baseball became popular in the late 1800s and “pool cards” came into use. The “Black Sox Scanal” which was “fixed” rocked the united states and the public acquired an adverse view of sports bettors. Although gambling was illegal a lot of people regarded sports gambling as a harmless victimless crime. College football and basketball also became popular 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 the majority of US cities, sports gambling activities were transforming into a section of life and most youngsters were coming in contact with the sports betting industry at a very early age. Some experts 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 almost 30 years.
Established in 1930 this company set lines in sports events and distributed those to bookmakers in the nation via the telegraph or telephone He also published sports information that helped bookies produce better lines and gamblers make smarter decisions. The publication that had been most widely used was The Green Sheet. He was legitimate even though his clients were illegal bookies.
Sports gambling was finally legalized in Nevada in the year 1931 and also the states financial situation 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 altered its economic condition for the better.
A resolution was passed in 1951 by way of the Congress that charged a 10% tax on every sports bet. New regulations allowed 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.