The History of Sport Betting

The History of Sport Betting

The History of Sport Betting

Today, sports play a crucial role in everyday life.  Sports’ betting is as old as sports itself and it blends two of the things man loves to do – that is take part in and/or watch sports events and betting. 

According to some recorded history, over a number of past thousand years, people cast lots and placed wagers.  Even the Bible, which is among the oldest historical documents, contains information about betting taking place, in which some of the soldiers gambled for the garments of Jesus Christ while he was hanging on the cross.  This ancient form of gambling which was known as gambling involved the use of marked stones or sticks.

The origin of ancient sports betting 

Greece, which is home to the original Olympic Games, is often credited for the birth of sports. 

There are records showing sporting events as well as gladiators and people betting on the results when the Roman Empire was at its crest. The origin of the initial bet, however, is not possible to date

Although contestants usually participated for rewards, it was in the stands that the real action was because spectators gambled on the events’ outcomes. Apparently, humans have an in-built longing to actually gamble on something.  While there are many people who seemingly have no interest in gambling, there are many others who gable regularly.

The moment you begin studying the history of sports generally, you will soon discover gambling related to it. While tracing sports events from the ancient Greece and Roman games right up to the contemporary games of football, basketball, baseball, as well as hockey, a market for placing bets has always been there. Whichever century – and nearly any culture you choose – you will actually locate events as well as contest that people wagered on then.  History is laden with contests and wagering. These ranged from foot races plus wrestling many thousands of years back, to bowling and horseshoes forerunners to rugby and archery during the middle ages and further.

Modern Sports Betting

Modern sports betting occurred mostly from horse racing.  In the early 18th century, betting on horses gained much popularity with new world countries following suit, and the two-horse race becoming quite common.   Countries such as the U.S, New Zealand and Canada had officially established laws to regulate gambling. The next key development in sports betting was the online casinos’ arrival in the 1990’s and the associated sportsbooks.  Today there are hundreds – if not thousands – of online gambling options that have started to dominate the classic bookmaking.

Nowadays, sports betting is a key industry that attracts numerous customers. Considering this success, it looks like it is here to stay. The addition of the internet to sports betting in the recent decades was among the biggest developments in the gambling industry.  This allowed the casinos to start offering their games online. Sports fans now find it more convenient to bet online. On top of that, with multiple sports book sites now available, fans can search for the best odds and promotions on offer.

However, there is one enduring pattern regarding sports betting, which is the legitimacy of the activity. The occurrence of betting differed subject to the political tide in the government of a nation.  Of late, betting has been controlled because some view it as providing organized crime with an open door. On the other hand, many see it as providing a way to increase tax revenues, allowing countries to provide additional services to their people.