Did you know that sports betting has been around for 2000 years? It seems to have originated around the time the ancient Greeks began the tradition of the Olympics. The event combined their love for sports with betting and, to date, is regarded as one of the most popular and historical sports events.
Sports betting was later on seen during the gladiator games among the Romans. While the tradition of the game slowly tapered off, betting remained and continued to spread in other countries. During those times, sports betting was frowned upon in many circles, and religious dignitaries tried to curb it, which led to sports betting being done behind closed doors and hidden alleys.
The history of sports betting is intriguing and reflects how the industry has evolved over the years and assumed its current stature. Let’s briefly go through the history of sports betting and look at factors that have made it popular today.
Horse race betting
Sports betting was not always like the version we see today. It was not a part of major sporting events in the older times as it was feared that people might hamper the outcome out of greed. However, it became popular in England later down the line when people started betting on horse racing. From thereon, the phenomenon gained rapid popularity and spread to other countries, including the US, where it became a national sensation.
Soon sports betting had become widely popular in Europe and other countries like Canada and New Zealand. In the wake of the increasing trend of sports bk8 betting, governmental regulatory authorities established rules and regulations to legalize sports betting and identify a set of ground rules and legal framework. However, that didn’t stop the bookmakers from cutting corners and finding ways around the legal technicality.
Around the 1950’s casinos in Las Vegas introduced sports betting in a legalized manner. However, the wagers placed in Las Vegas constitute a very small percentage of the overall amount in transit in the name of betting.
The legalizing initiatives became more intense when the internet came into play. While you had to travel to a certain destination, such as Las Vegas, to place a bet, the internet changed it all. During the mid-’90s, the internet had begun to amass popularity among people for its multiple purposes. One of the industries that benefited from this was the sports betting industry.
Individuals could communicate with anyone anywhere at any time. This also gave many the opportunities to work around the restrictions set on gambling and betting. Unfortunately, this led to a legal dilemma and posed a problem for the gamblers and the bookies. While many of the kinks were worked out, there are still a few grey areas.
The internet has resulted in an explosion of sports betting. With time, there has been an increase in the popularity of many sports. It has also led to an increase in the number of games, leagues, and tournaments, increasing betting opportunities for serious bettors.
Individuals can choose to bet on a variety of sports. They also have a wide range of betting options available. Individuals can now place bets on major sports events like football, basketball, horseracing, tennis, golf, etc. The market has become increasingly competitive, and as a result, sports betting has become more exciting and appealing for adventurous individuals.