Evolution of Sports Betting – Crazy 2020
Betting has evolved over the years. It’s considered a privilege to even afford to wager considering there was a time that the mere thought would not be fathomed.
Ever wondered where sports betting originated from or who initiated the first bet and how they did it considering there was no online betting?
It is very hard to pinpoint the exact date betting as a recreational activity was first discovered, however, this can be traced back to the early years. The Greeks and their love for sports started the Olympic Games and introduced them to the rest of the world.
Sports betting spread like wildfire to Ancient Rome, where it was welcomed with open arms and later on legalized. The Romans are well known for their gladiator games and even years after the sport was stopped, wagering was sustained seamlessly in other countries.
Throughout that archaic period, more and more religious leaders continued to protest against sports betting and even formulated laws that prohibited the activity.
This forced people to take sports betting underground making it even more popular as the world got interested.
In England, gambling became popular quite fast when horse race betting was discovered. The English quickly spread the practice to other parts of the world, especially the US where it soon became a fan favorite.
Sports betting is now popular, especially around Europe which has become a gigantic sports betting market.
Sporting events have continued to expand over the years improving the quality of betting as well as creating options to punters on matches they can wager on.
Not only is sports betting a form of passing time, but it has also become a lucrative business to governments and betting firms.
Sports Betting in Recent History.
In the early fifties, casino betting started in Las Vegas and was later legalized in Nevada in 1931, this made it even more attractive to bettors. However, to partake in betting, it required one to physically visit the casinos to place the bets which became an inconvenience to many who could not make their way to Las Vegas.
Billions of dollars are handled by the sportsbooks in Las Vegas, which currently has over 20 sportsbooks. This is just but a small volume that is handled in the US as the rest are handled illegally by the local bookies. For years, law enforcers in the region turned a blind eye to the illegal bookies.
Countries all over the world have set guidelines and regulations to prevent bookies from operating illegally and taking advantage of their punters but there are still some who still take bets. In a country like Kenya, the local government was able to ban licenses to over 20 betting firms for failing to comply with the regulations imposed by the government.
There are still online betting firms or bookmarkers that have solid records that punters can rely upon when it comes to sports betting.
Sports Betting Online
The internet is arguably the major reason why sports betting has grown massively over the years. Even though betting was available even before the evolution of the internet, it was not as widespread as it is now.
People are now able to place bets from any part of the world stress-free due to the internet. Mobile phone devices have made this market to explode with its numerous sports betting Apps. Unlike the early days in Las Vegas, punters no longer have to physically visit a bookie to place a wager.
People get to place bets from the comfort of their living room while watching their favorite matches from their television sets. Online sports betting has made betting easier and convenient.
Online sports betting encouraged betting firms to have payment options online which are easier for punters who like cashing out as early as they can. Not only is one able to withdraw their winnings faster but deposits are even more convenient.
Online betting does not have to involve sports events alone, the internet has opened a can of activities where the same punters can even bet on entertainment, esports, etc.
Sports Betting in the Future
Having a past like the one of Sports betting is only an indication of what the future holds in this industry.
The growth in sports betting is not about to decline if anything the market is growing quite fast especially with the popularity of famous sports like Football. Football itself has so many leagues and championships that punters are always spoilt for choice in choosing which specific games to place a bet on.
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The NFL, college football, and American football largely contribute to the large amounts of dollars received each year from betting. With the ever-growing market of online sports betting, bettors are now able to even live bets on other popular sports like basketball, cricket, and hockey.
The sky is the limit when it comes to the future of the sports betting industry.