History of sports wagering
The history of sports gambling 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 landed in the US from Europe and England in particular had betting within their veins as their ancestors gambled for generations. As a result “sports betting” was a natural part and parcel with the early American culture.
Today there’s no question that sports betting activities are 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 segment was small, today it has permeated virtually every facet of society.
Horse racing was popular in the 19th and early 20th Centuries and was enjoyed mostly by way of the upper class. But horse tracks started to appear after the Civil War and soon gamblers coming 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 the summit with over 300 racetracks throughout the US.
Professional baseball gained popularity from the late 1800s and “pool cards” came into use. The “Black Sox Scanal” which had been “fixed” rocked the US and the public acquired a negative view of sports bettors. Although gambling was against the law most people regarded sports gambling to be a harmless victimless crime. College football games 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 the majority of US cities, sports gambling activities were becoming a part of life and many youngsters were being exposed to the sports betting industry in 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 distributed them to bookmakers in the nation via the telegraph or telephone He also printed sports information which helped bookies produce better lines and gamblers make smarter 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 finally legalized in Nevada in the year 1931 and the states financial situation which was in dire straits at that time, changed drastically. Legalized boxing and sports gambling activities caused it to be 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 first legal sports books in Nevada and they were occasionally called “sawdust” rooms. In 1980s Roxborough became a major element of sports gambling and ushered in the technology that revolutionized sports gambling.