The historical past of sports betting in the US extends back to 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 landed in the US from Europe and England specifically had betting in their veins because their ancestors gambled for generations. Therefore “sports betting” was a normal part and parcel with the early American culture.
Today there’s no question that sports betting activities are definitely the craze around the globe. With the ease of online sports betting, it’s made the sport all the more convenient and cheaper. Though in the past the sports betting segment was small, today it’s permeated virtually every element of society.
Horse racing was popular in the 19th and early 20th Centuries and was enjoyed mainly by the upper class. But horse tracks started to appear after 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 reduce the odds on other horses to increase their attractiveness when there seemed to be big money for a particular horse. By 1920s horse racing had reached a peak with more than 300 racetracks throughout the US.
Professional baseball gained popularity 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 against the law most people considered sports gambling as a harmless victimless crime. College football and basketball also became popular with bettors as baseball and boxing. Pool cards were as popular as ever even though 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 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 nearly three decades.
Established in 1930 the corporation set lines in sports events and distributed those to bookmakers within 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 was most widely used was The Green Sheet. He was legitimate despite the fact that his clients were illegal bookies.
Sports gambling was ultimately legalized in Nevada in the year 1931 and also the states financial situation which had been in dire straits during those times, changed drastically. Legalized boxing and sports gambling activities made it 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 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 significant element of sports gambling and ushered in the technology that completely changed sports gambling.