History of sports wagering
The history of sports betting in the US extends back to the occasions when the founders took risks. Back then bettors bet on cockfights, makeshift horse races and bare fist fights. Colonists and Pioneers that landed in the US from Europe and England in particular had betting in their veins because their ancestors gambled for generations. Therefore “sports betting” was a natural part and parcel with the early American culture.
Today there’s no question that sports betting activities are the craze all over the world. With the simplicity of on-line sports betting, it has made the activity much 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 from the 19th and early 20th Centuries and was enjoyed mostly 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 on the gambling population and they were setting odds on horses that increased the betting handle. Bookies would lower the odds on other horses to enhance their attractiveness when there was a lot of money for a particular horse. By 1920s horse racing had reached a peak with over 300 racetracks all over the US.
Professional baseball gained popularity in the late 1800s and “pool cards” came into use. The “Black Sox Scanal” which had been “fixed” rocked the united states and the public acquired a negative view of sports bettors. Although gambling was illegal most people considered sports gambling to be 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 part of life and most youngsters were coming in contact with the sports betting industry in 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 almost three decades.
Established in 1930 this company set lines in sports events and distributed them to bookmakers within the nation via the telegraph or telephone He also printed sports information that helped bookies produce better lines and gamblers make better decisions. The publication that was most popular was The Green Sheet. He was legitimate despite the fact that his clients were illegal bookies.
Sports gambling was finally legalized in Nevada in the year 1931 and the states finances which was in dire straits at that time, transformed significantly. Legalized boxing and sports gambling activities caused it to be a hot spot for tourists and this also altered its economic condition for the better.
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 major element of sports gambling and brought in the technology that revolutionized sports gambling.