History of sports wagering
The history of sports betting in the usa extends back on the occasions when the founders took risks. Back then bettors bet on cockfights, makeshift horse races and bare fist fights. Colonists and Pioneers that arrived in the US from Europe and England in particular had betting within their veins because their ancestors gambled for generations. Therefore “sports betting” was a natural part and parcel of the early American culture betting guide.
Today there’s no question that sports betting activities are definitely the craze all over the world. With all the ease of online sports betting, it has made the sport all the more convenient and cheaper. Though in the past the sports betting section was small, today it has permeated almost every element of society.
Horse racing was popular from the 19th and early 20th Centuries and was enjoyed mainly 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 these racing establishments. Bookies had a hold over the gambling population and 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 over 300 racetracks throughout the US.
Professional baseball became popular in the late 1800s and “pool cards” came into use. The “Black Sox Scanal” which had been “fixed” rocked the US and the public received a negative view of sports bettors. Though gambling was against the law most people regarded sports gambling to be a harmless victimless crime. College football and basketball also gained popularity 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 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 nearly three decades.
Established in 1930 this company set lines in sports events and distributed 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 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 finances which had been in dire straits during those times, transformed drastically. Legalized boxing and sports gambling activities made it a hot spot for tourists and this altered its economic condition for the better continued.
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 first legal sports books in Nevada and they were occasionally called “sawdust” rooms. In 1980s Roxborough became a major element of sports gambling and brought in the technology that revolutionized sports gambling.