History of sports wagering
The history of sports gambling in the usa extends back to the occasions when the founders took risks. Back then gamblers bet on cockfights, makeshift horse races and bare fist fights. Colonists and Pioneers that arrived in the united states from Europe and England in particular had betting in their veins as 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 definitely the craze around the globe. With all the ease of online sports betting, it has made the activity much 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 from the 19th and early 20th Centuries and was enjoyed mainly by the upper class. But horse tracks started to appear following the Civil War and soon gamblers from all sectors of society flocked to these racing establishments. Bookies had a hold on the gambling population and they were setting odds on horses that increased the betting handle. Bookies would reduce 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 the peak with over 300 racetracks throughout the US.
Professional baseball became popular from the late 1800s and “pool cards” came into use. The “Black Sox Scanal” which had been “fixed” rocked the US and the public received an adverse view of sports bettors. Though gambling was against the law a lot of people considered 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 although the odds of these cards were in the bookies favor.
In most US cities, sports gambling activities were transforming into a part of life and most youngsters were coming in contact with the sports betting industry at a very young age. Some experts have said, “Sports gambling was getting more popular than hotdogs!” Soon Leo Hirschfield started Athletic Publications that became the sports betting world standard for nearly 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 which helped bookies produce better lines and gamblers make better 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 the states finances which had been in dire straits at that time, transformed significantly. Legalized boxing and sports gambling activities made it a hot spot for tourists and this changed 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 initial legal sports books in Nevada and they were sometimes called “sawdust” rooms. In 1980s Roxborough became a significant element of sports gambling and brought in the technology that revolutionized sports gambling.