2.18.2021

HISTORY OF SPORTS BETTING: TRANSFORMATION SINCE 1970'S

Technology has completely shifted the betting industry’s daily operations into something much more advanced and efficient 

It’s clear that advancements in the tech world are largely responsible for the growth and progression of countless industries around the world. Especially when it comes to those sectors whose operations were previously functioning mostly in-person, digitization has the power to transform these companies in extremely exciting ways.

The sports betting industry is one whose identity is rich in culture and retro history, yet ever-evolving due to technology. Below we’ll take a look at how these services have changed in light of the 21st century.

Origins and historical roots 

You may be surprised to know that sports betting can be traced back to over 2,000 years ago, when the Romans would place bets on who they believed would come out on top in gladiator games. After all, Ancient Greece founded the world’s most beloved sports competition- the Olympic Games.

Fast forward to the 16th and 17th centuries, and betting on horse races in the U.K became a common pastime among those of the noble community. During these times, the first bookmakers began popping up all over the country in the form of hotel owners. The activity was not yet regulated; not until the passage of the Gaming Act in 1845 that aimed to legalize commercial betting.

Types of bets and varieties available today 

From the old times to the modern-day, horse racing has consistently been one of the most popular sports to bet on 

These days, horse racing was the most common sport to bet on and remains an extremely popular choice even today. In fact, some of the world’s highest wagers are placed on prestigious horses each year.

By the time it came to the 1960s and 70s, the first fully legal sports betting shops opened in various areas of England such as Manchester. The Betting and Gaming Act of 1960 was largely responsible for this boom in U.K. betting.

The industry soon made its way to other countries, such as the U.S., where Las Vegas became a popular site of sportsbooks locations, especially down the famous "Sin City Strip.” In the ’70s, several bookmaking operations rose to popularity and eager owners looked to make their mark in the sector. However, the age of the internet in the 1990s would change everything and bring even more fans to the surface.

Since technology opened unimaginable doors for the online sports betting industry, there are now more options than ever before when it comes to placing wagers. The frequent bettor may be familiar with some of the popular types of bets such as parlay, straight, or head-to-head, but nowadays digital platforms have added to their offerings so as to connect with the user in the virtual world.

For example, many sites will provide a selection of different free bet opportunities and promotions from the best legalized online sportsbooks. The convenience of the internet allows users to search for these packages quickly and efficiently, using special filters that can help narrow down information on options like deposit value, bonus amount, and which U.S. state you live in.

Physical sportsbook locations are limited in these types of avenues. However, sportsbooks that exist in the digital world have the chance to pack a load of valuable resources into one virtual, user-friendly space.

The age of technology and modern-day opportunities

There’s no doubt that the digital era transformed every aspect of our lives, largely for the better. When it comes to the activity of betting on sports, the age of technology contributed more to the industry than some could have ever dreamed. Its arrival gave fans the opportunity to interact with their favorite teams and players throughout a variety of different sports in real-time, pre-match, and post-game.

Brick and mortar locations may provide similar wagering information on multiple sports organizations, but they require people to travel potentially long distances to reach their facilities. On the flip side, the world wide web allowed for the sector’s most talented developers and designers to create digital platforms that are accessible for all. This meant that the modern-day sports fan simply needs to have a Wi-Fi connection, not a car, to participate in the exciting activity. No more are the days of waiting in long bookmaker lines after enduring a traffic-filled commute.

Where is the activity legal online and what does the future hold?

Little by little, online sports betting in America has become legal in various states. Perhaps one of the most landmark moves was made by the Garden State recently in 2018. Because of the passage of Assembly Bill 4111, New Jersey has become the prime U.S. location for sports betting in the digital world. In fact, the northeastern region of the country is one of the best spots for legal, online sportsbooks. Neighboring states such as Delaware, New Hampshire, Pennsylvania, and even tiny Rhode Island also offer their residents the opportunity to place wagers online.

The future is bright for the online sportsbook world. As more locations join the ranks of legalizing these digital platforms, users have greater options than ever before. Many states have legislation in process that would open more doors for the industry in the virtual environment.

In addition, other gaming sectors, like of Esports, are rising to the top in the 21st-century world, making new waves in the betting industry as well. In fact, placing wagers on video game competitions is now a popular activity amongst gamers and sports enthusiasts alike. There are many popular tournaments that take place around the world and award hefty prize money to their winners. This type of Esports betting may not be a conventional form of activity, but it is becoming increasingly attractive and entertaining for users everywhere.

Although the shifting landscape of sports betting is uncertain, industry leaders predict more and more virtual platforms coming onto the scene to serve a growing audience. The bottom line, sports betting isn’t expected to go out of style anytime soon. From the Greeks to the retro era of 1970’s Las Vegas to online sportsbooks in the 21st century, big things are in store in the coming decades.

No comments:

Related Posts Plugin for WordPress, Blogger...

addtoany