History of sports wagering
The history of sports gambling in the US dates back on 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 US from Europe and England specifically had betting within their veins as their ancestors gambled for generations. Therefore “sports betting” was a natural part and parcel with the early American culture.
Today it is obvious that sports betting activities are the rage all over the world. With all the ease of online sports betting, it has made the sport all the more convenient and cheaper. Though previously the sports betting segment was small, today it’s permeated almost 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 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 big money on a particular horse. By 1920s horse racing had reached the 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 united states and the public received a negative view of sports bettors. Though gambling was against the law most people regarded sports gambling as 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 becoming a part of life and many 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 nearly three decades.
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 smarter decisions. The publication that was most widely used was The Green Sheet. He was legitimate despite the fact that his customers were illegal bookies.
Sports gambling was ultimately legalized in Nevada in the year 1931 and also the states financial situation which had been 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 also 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 allowed the bookies to come out of the dark and work openly. Turf clubs were the first legal sports books in Nevada and they were sometimes called “sawdust” rooms. In 1980s Roxborough became a major part of sports gambling and brought in the technology that completely changed sports gambling.