History of sports gambling
The historical past of sports gambling in the US extends back to the occasions when the founders took risks. Back then bettors bet on cockfights, makeshift horse races and bare fist fights. Colonists and Pioneers that landed in the united states from Europe and England in particular had betting in their veins because their ancestors gambled for generations. Therefore “sports betting” was a natural part and parcel of the early American culture betting online.
Today it is obvious that sports betting activities are the craze around the globe. With the ease of online sports betting, it’s made the activity much more convenient and cheaper. Though previously the sports betting segment was small, today it’s permeated almost every element of society.
Horse racing was popular from the 19th and early 20th Centuries and was enjoyed mostly 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 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 seemed to be a lot of money on a particular horse. By 1920s horse racing had reached a peak with more than 300 racetracks all over the US.
Professional baseball gained popularity 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. Although gambling was illegal a lot of people regarded sports gambling as a harmless victimless crime. College football 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 becoming a part of life and most youngsters were coming in contact with the sports betting industry in a very early 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 30 years.
Established in 1930 the corporation set lines in sports events and dispersed them to bookmakers in the nation via the telegraph or telephone He also published sports information which helped bookies produce better lines and gamblers make smarter 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 the year 1931 and 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 altered its economic condition for the better continued.
A resolution was passed in 1951 by way of 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 major element of sports gambling and brought in the technology that revolutionized sports gambling.