The History Of Sports GamblingThu, 29 May 2008 23:51
The History Of Sports Gambling
Sports arbitrage and the history of sports gambling
We hear the word gambling in casinos, in lotteries, in game shows over television or radio, and even over the Internet. Gambling is a game of chance. When you play a game of chance, however hard you perform or play the game, you do not have control over the aftermath. Whether you win or not depends on your prayers and on what the game master happens to have picked as the winning numbers or combinations. In other words, it all depends on chance.
Sports gambling, on the other hand, refers to betting on the outcome of a sports event, like a basketball game or a horse racing event. Bettors either go for a particular team or player winning or losing. If at the end of the game the player or team wins, then those who voted for “win” bags the prize. Meanwhile, if the player or team loses and the bettors voted for “lose,” then they get to bring home the bacon.
How did sports gambling come about? Where is it headed? Let’s find out.
The Origin of Sports Gambling
According to anthropologists, sports gambling is already thousands of years old. Resplendent of this is a dice found inside the pyramids of Egypt, which are said to date back from 4,000 years ago. It was also during the old ages that casinos sprang up. The oldest records of horse races have been found to be more than 2,000 years old. Come the medieval period, the world saw the emergence of betting inns that lined the roads where merchants and military men often pass.
Sports Gambling In The Bible
There are also instances stated in the Bible that attested to the apparent presence of gambling as well as sports gambling. Here is a sterling example:
From Matthew 27:35- “They crucified him and then divided his clothes among them by throwing dice.”
This Bible verse pertains to the time when Jesus, the famed Messiah, was stripped of his clothes, scourged, and nailed to the cross. The dice, a gambling paraphernalia, was used so that the soldiers can determine who wins the clothes of the Christian Lord.
Sports Gambling In The 15th to 19th Century
During the 15th century, lottery was legal. It was devised by the sovereign rulers of Europe and the United States to rev up their funds. Funds from government authorized lotteries went to public infrastructure like bridges, highways, and canals that aid transportation and economy. In the 18th century, right after the civil war in the United States, money from lotteries is used to reconstruct infrastructure that has been grazed to the ground by the war.
Come the 19th century, casinos mushroomed in the European continent, the most popular of which is in Monte Carlo, which remains famous to this day. In America, illegal gambling sites also sprouted like wildfire in the East Coast.
Sports Gambling In The Modern Times
We can say that the real sports gambling just came about during the 20th to the 21st century. It was then, particularly in the year 2004, that gambling, which gained avid enthusiasts, was declared legal and given advertising benefits in more than thirty states in America to satisfy the need for more employment and a progressive economy. In spite of, though, it was also during this time that the industry came face to face with trials. These came in the form of the prevalence of online gambling sites and countries that restricted or banned altogether sports gambling in their territories.