History of sports wagering
The historical past of sports betting 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 arrived in the US from Europe and England specifically had betting within their veins as their ancestors gambled for generations. Therefore “sports betting” was a normal part and parcel with the early American culture.
Today it is obvious that sports betting activities are definitely the craze all over the world. With the simplicity of on-line sports betting, it has made the activity much more convenient and cheaper. Though previously the sports betting section 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 following 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 seemed to be big money on a particular horse. By 1920s horse racing had reached a summit with over 300 racetracks all over 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 acquired an adverse view of sports bettors. Though gambling was illegal most 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 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 transforming into a section of life and many 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 almost three decades.
Established in 1930 this company set lines in sports events and dispersed those to bookmakers in the nation via the telegraph or telephone He also printed sports information that helped bookies produce better lines and gamblers make better decisions. The publication that had been most widely used was The Green Sheet. He was legitimate even though his customers 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, transformed drastically. 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 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 sometimes called “sawdust” rooms. In 1980s Roxborough became a significant element of sports gambling and ushered in the technology that revolutionized sports gambling.