History of sports wagering
The history of sports betting in the usa dates 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 in particular 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 around the globe. With the ease of on-line sports betting, it’s made the activity much more convenient and cheaper. Though in the past the sports betting section was small, today it has permeated virtually every element 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 following the Civil War and very quickly gamblers 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 was a lot of money on a particular horse. By 1920s horse racing had reached a summit 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 united states and the public acquired an adverse 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 and basketball also gained popularity with bettors as baseball and boxing. Pool cards were as popular as ever although the odds of these cards were in the bookies favor.
In the majority of US cities, sports gambling activities were becoming a part 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 nearly 30 years.
Established in 1930 the corporation set lines in sports events and distributed those to bookmakers within the nation via the telegraph or telephone He also published sports information which helped bookies produce better lines and gamblers make better decisions. The publication that was most widely used was The Green Sheet. He was legitimate even though his clients were illegal bookies.
Sports gambling was ultimately legalized in Nevada in 1931 and also the states financial situation which was in dire straits at that time, changed significantly. Legalized boxing and sports gambling activities made it a hot spot for tourists and this also changed its economic condition for the better.
A resolution was passed in 1951 by way of the Congress that imposed 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 occasionally called “sawdust” rooms. In 1980s Roxborough became a major part of sports gambling and brought in the technology that revolutionized sports gambling.