The History of Sports Betting

Sports betting has been a part of sports since their beginning, though it was not a highly organized activity that it is today. Bets and wagers were made of sports teams of the professional, college, and amateur leagues as long as the games have been played. Over the last three decades sports betting has really taken off and is probably one of the most popular, if not the most popular, form of gambling in the world. Sports betting attracts a wide variety of people because there are people from all walks of life that share a common interest in sports, and betting on the outcome of a team or individual game makes it all the more exciting. Others bet on sports purely for the financial aspect, while others just want to feel as though they are part of their favorite sports team. Whatever the reason, there is no doubt that sports betting has become very popular.

Sports betting is not only the most popular illegal forms of betting, it is also the most popular form of legalized betting as more and more people turn to legal means of sports betting. It's said that the legalized side of sports betting has become more attractive for many reasons, including a decrease in the federal wagering excise tax that was originally 10% then it was 2% and now it is just .25%. This decease in the tax made it doable for many bettors to convert to legalized sports betting and for others to realize that bookmaking was a very profitable business if done properly. Many have said that sports betting is growing because the media brings the sports into the forefront far more than they used to. Cable television as well as satellite technology has made it possible for people to see live games, though they may be thousands of miles away from the actual game. The technology available not only brings the games to those that want to bet, but also to the sports books, bringing the mass marketing by the media to whole new levels all the time.

The three most popular sports to bet on are football, baseball, and basketball, many experts believe because these three sports have contracts with national as well as local television providers. Because these sports are marketed more heavily and are brought into the homes of more people every day, it is no surprise that sports betting has really taken off. In addition to the marketing that has made sports more attractive and visible than ever before, the negative stigma that used to be associated with gambling is no longer there, making sports betting more acceptable all around. Most of those that are involved in sports betting do so because it is considered a victimless crime, so because the crime has not committed any harm to another person or entity, most do not go along with the fact that sports gambling should be a crime at all.

Even legalized sports betting in Nevada increased as sports were televised more and more as well as the decrease in the gambling tax. When you consider that gambling increased from a $41 billion dollar industry in 1973 to a $258.7 million dollar business by 1979. These increases are huge. Of course, the industry has only grown from there, but because sports betting is only legal in Nevada and Oregon, it is nearly impossible to determine exactly how much is being made now because the majority of sports betting is done illegally. There is no doubt that the number has likely tripled or more in the last three decades. Many experts believe that sports betting in the United States alone probably tops $380 billion, though that is just an estimate. These numbers are hard to imagine when you just look at the legal aspects of sports betting, but through history most of sports betting has been done under the table or behind the scenes.

While a good deal of sports betting is done legally now in Nevada's sports books, as well as Oregon's Sport Action, there is a good deal more that is going on. Not all of the sports betting is highly organized; instead much of it is done at corporate offices, in the warehouses of large corporations, at card games, with fun sports leagues, and more. Water cooler sports betting is quite common as all of the guys may want to bet just $20 on a point spread in hopes that they can double, triple, or even quadruple their wager when it comes time for the game. This is interesting, because where sports betting takes place really hasn't changed much, as it's mostly done through friends and acquaintances.

This makes the biggest change in the history of sports betting the exposure of the sports as well as the attitude toward sports betting and gambling as a whole. Gambling interests a wide range of people because they see the sports and they have the knowledge they feel is necessary to place wagers on point spread or betting lines that will likely earn them double or more of their original wager. The attraction of sports betting is undeniable, as it has been throughout history, but now that so many people know the averages, the statistics, and what team is playing another it's easier for more people to become involved in the betting, on some level or another.

Many believe that sports betting will see more legalization in the future as the government and sports teams and leagues realize that the betting does not have to undermine the integrity of the sport. Many argue that sports betting should already be legalized since so many people take part in the activity, but a complete legalization is not yet part of the sports gambling history. As an old past time that draws in a lot of people to become more involved with their sports teams, legalization of sports betting seems like a great idea! Perhaps legalization will soon become part of a very long sports betting history.



© 2003 - 2017 Online Sports Betting, All Rights Reserved. Privacy Policy | Terms of Use