The Emergence Of Sports Betting

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Sports betting, and especially online betting, is a fairly old way to pass time and make money. Now he has reached the peak of his popularity. According to reliable data, bookmakers account for 40 percent of the gambling entertainment market. What does this mean? The fact that a huge number of people are fond of betting, and at the same time, they will be interested to know about the path that the bookmakers have traveled.

In our article, you will receive more information about the history of the emergence of sports betting, about the current situation, as well as a forecast of what will happen to bookmakers in the future.

The origins of sports betting

To appreciate how long and complex the history of sports betting is, you need to move back to a time when there was no civilization as such. This is the time when such powerful peoples as the Ancient Greeks and Romans existed. These are the first countries where the prototypes of the modern Olympic Games began. This was the period when people made deals among themselves for the results of games. This made a huge contribution to the further development of bookmaking activities.

The next historically important period is the 19th century. At this moment, the rapid progress of bookmaking began. It began to spread throughout the world. And the main reason for this was, oddly enough, England.

England’s role in bookmaking

Few people know that this is England – the first country that came up with exactly bookmaking. It was the end of the 18th century, 1790, when William Ogden began accepting horse racing bets. He was succeeded by two more characters – Leviathan Davis and Fred Swindell. The guys went even further and in 1850 opened the first land-based gambling platform in London.

In 1888, football tournaments and matches gained momentum in England. Then, the popularity of betting has skyrocketed. People who, too, were swallowed up by the advertisements with the potential winnings, began to try their luck more and more. The first predictions and match reviews appeared, which directly led to the full involvement of people in bookmaking activities.

How did sports betting spread worldwide?

The more time passed, the more people learned about a new way of entertainment or a way to earn money. For 30 years after the opening of the first bookmaker’s controversy, it was already possible to place bets in Russia, America, Germany and France. 

So, in 1872, the first office was opened in France, headed by Pierre Oller. He was selling tickets with a possible outcome of the match. Those who had the same results took a large amount, or a prize fund. There were more and more such offices.

By the 1970s, the concept of online betting appeared in America. This was facilitated by the country’s great economic progress and the illegality of land-based bookmakers.

Obstacles to Legalizing Sports Betting

There are also negative consequences of legalization and the appearance of bookmakers. Despite the fact that their popularity was high, they faced the following problems:

  1. Many people and companies declared themselves bankrupt, which had a bad effect on the economic situation of the country. For this reason, some countries, such as France, have banned bookmakers;
  2. In Russia, the minimum rate is set at 10 rubles. Then it was a huge amount. Thus, it has reduced the number of bookmaker users;
  3. Until the middle of the 20th century, legalization in Europe as a whole did not take place. There was corruption and spontaneous bookmakers.

Sports betting now

Since 1961, sports betting has been legalized in a number of countries. Nowadays, this is very popular and is allowed in more countries. Moreover, the sports market is big, including bets on politics.

It is worth paying special attention to the fact that in many countries betting is still prohibited. This leads to a huge emergence of illegal bookmaker sites. So, online betting is an excellent option. Sports betting enthusiasts may already be independent of their location to take advantage of the online servers. Now it is enough to simply enter the site or open the application to simply place a bet on sports. And there are already several hundred such bookmakers. Millions of people around the world bet online every day.

Situation in India

In India, there is a special situation when in some states bets are allowed. However, in general, the state does not approve of such joyful entertainment. Moreover, over the years it has been introducing various laws and acts to control the situation in the country.

An interesting fact is that horse racing bets are allowed. This is argued by the fact that this kind of sport is based on skill and experience, but not on excitement and luck. Although evidence that any other sports game is purely luck never followed.

People use offshore online bookmakers like 22Bet or Bet365. Indians in 80 percent of cases bet on cricket, bringing profit to other countries. Statistics show that if the country legalized rates, then the income from this area would be more than $ 1 billion. However, such prospects are not foreseen.

What can we expect from sports betting in the future?

It is obvious that in the future this kind of gambling activity will not disappear anywhere if it does not become even more popular. There are a few basic assumptions about the future of sports betting:

  1. Much attention will begin to be paid to e-sports. There is a likelihood that such a sport will enter the Olympic Games;
  2. The growing popularity of cryptocurrency can lead to blockchain and tokenization of betting. These processes will lead to increased trust between online betting users and the bookmaker.
  3. Instant speed of money transfer at minimal cost;
  4. Use of virtual reality by 2022. Up to the point that you can see the state of the player, his successes and failures, speed, and so on right in front of you;

FAQ

Which country is the birthplace of sports betting?

It’s hard to say for sure. Before our era, the ancient Romans and Greeks had already entered into deals between themselves on the results of gladiatorial battles or the Olympic Games. However, the first bookmaker’s office was established in England.

In what year did people start placing their first bets?

During the 19th century, bookmaking was actively developing in England. In 1850, the first bookmaker was already opened, which accepted bets on horse racing.

What is the current state of affairs with the bookmaker activity in India?

The government of the country speaks negatively about the legalization of this type of activity. However, there are states where betting is allowed. Regardless, cricket fans can always place their bets on an offshore online site.

How did sports betting become a global entertainment and a way to make money?

After the advent of bookmakers in England, it began to spread all over the world. Counter-forces appeared in the USA, Russia, and European countries. At the end of the 20th century, online bookmakers appeared, which made sports betting possible for everyone.