History of Sports Betting
The practice of betting on
sports has existed in some form for many generations. Over the
years, the sports betting industry has developed into a
multi-billion dollar juggernaut, primarily due to the inventions of
television and the Internet. It is estimated that 1 in 4 Americans
place a bet on sports each year. Globally, the sports betting
industry is hugely successful. Here is a look back on how betting on
sports has grown over time.
The Rise of Horse Racing
The sport most popular with gamblers in the 19th century was definitely horse racing. Initially, betting on horse races was a practice reserved for the upper class. By the 1860’s, the dramatic rise in horse tracks led average citizens to partake in the thrill of betting. Horse racing enjoyed great success and popularity until the 1920’s, when sports like baseball, football and boxing moved to the forefront. Horse racing, online slot machines are now even available in some US casino parlours.
Impact of Black Sox Scandal
The Black Sox scandal refers to the eight players from the Chicago White Sox that were bribed by gamblers to throw the World Series in 1919. The eight players, including Shoeless Joe Jackson, were banned from baseball for life. The impact of the scandal on sports betting was considerable. The sports betting industry was perceived to be run by criminals. A dark cloud hovered over the integrity and legitimacy of the practice of sports betting.
Las Vegas Legalizes Gambling
The sports betting industry received a boost in 1931 when gambling was legalized in Las Vegas. However, betting on sports did not become commonplace in Las Vegas until the 1970’s. This was due to an excessive tax imposed by Congress which made turning a profit difficult for bookmakers. After the tax was significantly decreased, sports betting became very profitable. You can likely find a sports book in every major online casino USA parlours.
Impact of Online Sports Books
Since the advent of the Internet, betting on sports has become much safer and easier. It can easily be done with william hill online bets. Potential bettors have a multitude of online sports books to make use of. The fierce competition leads these online sports book to offer customers bonuses and promotional offers. Online sports books have led to a dip in the profits of the Vegas sports books. Bettors can place wagers on virtually anything, from the over/under to who will score the first basket. The ease and efficiency of betting online ensures that the sports betting industry will continue to rake in exorbitant profits in the years to come.
Copyright © 2013 Gary Bedingfield (Baseball in Wartime). All Rights Reserved.