History of sports wagering
The history of sports betting in the usa extends back to the times when the founders took risks. In the past gamblers bet on cockfights, makeshift horse races and bare fist fights. Colonists and Pioneers that landed in the US from Europe and England specifically had betting in 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 rage around the globe. With all the simplicity of online sports betting, it has made the activity much more convenient and cheaper. Though previously the sports betting segment was small, today it has permeated virtually every facet of society.
Horse racing was popular in the 19th and early 20th Centuries and was appreciated 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 over 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 seemed to be a lot of money for a particular horse. By 1920s horse racing had reached a summit 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 US and the public acquired a negative view of sports bettors. Although gambling was against the law a lot of people considered sports gambling to be a harmless victimless crime. College football games and basketball also gained popularity with bettors as baseball and boxing. Pool cards were extremely popular although 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 many youngsters were being exposed to the sports betting industry in 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 three decades.
Established in 1930 the corporation set lines in sports events and distributed those to bookmakers within the nation through 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 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 1931 and also the states financial situation which was in dire straits during those times, changed significantly. Legalized boxing and sports gambling activities caused it to be a hot spot for tourists and this altered its economic condition for the better.
A resolution was passed in 1951 by the Congress that charged 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 occasionally called “sawdust” rooms. In 1980s Roxborough became a major element of sports gambling and ushered in the technology that revolutionized sports gambling.