History of sports wagering

The historical past of sports gambling in the US dates back on the occasions when the founders took risks. In the past bettors 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 in their veins because their ancestors gambled for generations. As a result “sports betting” was obviously a natural part and parcel with the early American culture.

Today it is obvious that sports betting activities are the rage all over the world. With all the simplicity of online sports betting, it has made the activity much 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 from the 19th and early 20th Centuries and was appreciated mostly by way of the upper class. But horse tracks started to appear after the Civil War and very quickly gamblers coming from all sectors of society flocked to those racing establishments. Bookies had a hold on the gambling population and in addition they were setting odds on horses that increased the betting handle. Bookies would reduce the odds on other horses to increase their attractiveness when there was a lot of money on a particular horse. By 1920s horse racing had reached the summit with over 300 racetracks throughout 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 an adverse view of sports bettors. Though gambling was against the law a lot of people regarded 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 the majority of US cities, sports gambling activities were becoming a part of life and many youngsters were coming in contact with the sports betting industry in 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 almost 30 years.

Established in 1930 this company set lines in sports events and distributed those to bookmakers within the nation through the telegraph or telephone He also printed sports information that helped bookies produce better lines and gamblers make smarter 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 was in dire straits during those times, changed significantly. 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 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 completely changed sports gambling.