Sports Betting: A Brief History

Whether you are an expert in all things sports betting or just starting to express interest in it, you may be intrigued by how it came about. 

Read on to learn a little bit about the history of sports betting. 

How It Got Started

Betting on sporting events can be traced back to ancient Rome. It is believed that within the city, people were permitted to place bets on gladiator fights, chariot races, and other various events. While this seemed to be popular back then, sports betting as we know it didn’t really surface in the United States until the 1800s.

Before sports betting grabbed public attention, there were other ways to scratch your gambling itch, including games of chance and lottery.

The Lottery (the 1700s)

Throughout the 1700s, the lottery was, by and large, the most accepted form of gambling in the country. Established to help build and sustain schools and universities, it became a typical thing to participate in. While the U.S. was under British rule, there were several rules and restrictions placed on the lottery. However, that didn’t stop America from using its revenue to fund the revolutions and gain freedom from them. 

By the mid-1780s, all restrictions on the lottery were completely lifted and gambling was on its way to becoming regularly practiced throughout the country. 

Horse Races 

Sports betting in America didn’t fully step onto the scene until horse racing became popular. In the mid-1800s, people began racing more than two horses at a time, sparking the movement of horse racing. As this sport took flight, many racing tracks were built all over the nation, and betting was taking place at everyone. 

While horse racing and betting were reserved for the elite, a rising culture of greed and fraud was negatively affecting the name of gambling, raising government suspicion and weariness.

Sports Gambling Banned 

Shortly after the boom in horse racing, boxing and lottery took flight. If you were an American citizen in the early 1900s and you didn’t gamble on one of these three events, you might have been considered an anomaly. 

During this time, you would start hearing about people rigging boxing matches by paying one of the fighters to lose in a specific round to benefit those who had gambled on it. This type of greed and fraud began to run rampant, and shortly thereafter, the government decided to ban all forms of gambling. 

Black Sox Scandal 

One of the most infamous stories of fraud in the early sports betting world is the Black Sox scandal of 1919. During this scandal, three different Chicago White Sox players allegedly took $10,000 from a major gambling organization to throw the World Series game. 

This incident played a massive role in convincing people that allowing gambling on sporting events could compromise players and the integrity of all major league sports. 

Legalization of Sports Betting 

After a long road of legalization, illegalization, and everything in between, sports betting became completely legal in Nevada in the late 1940s. The state wanted to get more revenue from tourists. Unfortunately, that was quickly hindered by the government when they declared a ten percent tax on all sports betting activity. As casinos started to go out of business, the U.S. government decided to drop the tax down to two percent, officially reigniting the industry. 

Web-Based Betting 

It is no secret that betting used to be quite an ordeal. Logistically you would have to go down to the office to place bets alongside attending each event to maintain the knowledge necessary to make the best bets. While this was obviously doable, it ushered in a natural vetting process. People who were only slightly interested in gambling on sports often wouldn’t, until web-based betting became possible. 

With the internet came ease to gambling. People now had access to all of the information they needed to learn how to gamble. Not to mention bookkeepers and gamblers alike could remotely do everything they need to do. As you could imagine, this new ability to be widely accessed caused an entirely new set of problems for authorities where gambling was banned.

Present Day

Sports betting has continued to increase in popularity and is now legal for pretty much anyone over 21. The two most popular sports to bet on in the U.S. are NBA and NFL. Between these two, you could make a full-time career out of gambling on games, players, statistics, and so much more. All from the comfort of your own home. 

The Takeaway

Sports betting has gone from ancient Rome to modern-day living rooms. After years of going through various levels of legality, sports betting is now an attainable hobby to anyone interested. So if you like sports, get out there and try to make a few bets! You may be able to make some real money off of it.