History of Sports Betting, People have been arguing with each other since they lived in caves. There was no money at that time and the focus was on material things – weapons, household utensils, cattle and, later, on the slave and slave trade. The first sporting events began in antiquity The first Olympic Games in Ancient Greece place in 776 BC.
People then bet more often on the outcome of gladiator battles, races, and chariot races. Archaeologists have found fragments of manuscripts that indicate that around the 5th century BC the first prototype of the bag appeared. There was also a set of rules for accepting bets.
In the harsh law of Rome there was a law called Lex alectoria (from alea – dice), which was considered the first law concerning betting. Even then, in the third century BCE, gambling was forbidden, but betting on sports was permitted.
Later European monarchs issued edicts testifying to the development of gambling and gambling. King Louis I of France issued a decree in 1254 banning gambling on the national territory on pain of the plague. In 1710, Queen Anne of England declared debts «a matter of honors» without legal consequences
History of Sports Betting – FIRST BOOKIES
The evolution of betting and gambling was underway and its natural stage was the emergence of betting houses. Richard Tattersaul began placing bets in 1766 and William Ogden in 1790. The odds were defined between the bet and the victory of each horse: this is how the first odds emerged. For a long time, betting developed on racetracks: racing was then the most popular entertainment on both sides of the Atlantic Ocean. Similar organizations soon appeared in France, the United States and other countries.
As a result, their customers must rely on the honesty and courtesy of the applicants. In 1850, Leviathan Davis and Fred Swindell opened the first betting Industry in London.ts founders made sports predictions and distributed leaflets with chances of victory.
.Joseph Oller is considered the owner of the first betting pool. In 1865, he opened a central bank in Paris to accept mortgages from players. This venture was a huge success and led to the opening of several other similar funds. At the end of the 19th century, laws governing betting were passed in France, Great Britain and other countries as well.
FROM RACECOURSES TO ONLINE BETTING
In 1923, Littlewoods was established in Liverpool California and it that time it began taking bets by mail. Treble Chance was the most popular game where players could make 10, 11, or 12 predictions for the next weekend’s soccer games. Littlewoods was one of the world’s largest private equity firms until online betting took off.
William Hill was founded in London in 1934 as the world’s most famous betting company. Until the middle of the 20th century, bookmaking remained semi-legal, and bets lacked legal protection.
An important year for betting was 1961, when betting was officially legalized in Britain on May 1st. Betting quickly gained popularity all over the world. Bookmakers started taking bets on almost all sports as well as non-sporting events.
ONLINE BETTING:
The first online bet was made in 1996. It was hosted by Intertops, an online betting company licensed in the small island Caribbean state of Antigua and Barbuda. In 1994, as a coastal zone, the country was granted the right to issue such licenses by the WTO. In the future, more betting companies choose to be based offshore because of the tax break. By 2001, the online sports betting market had exceeded two billion dollars and the number of players had reached eight million. In 2002, bettors were able to make their first live bets.
Intertops has also started developing mobile betting applications. In 2000, the first such software was launched, allowing online betting from mobile devices.
SPORTS BETTING MARKET SIZE:
Zion Market Research, a consulting company, conducted a study suggesting that the global online sports betting market could exceed $150 billion in 2024. It also found that sports betting now covers more than 70% of the industry world of gambling. The highest turnover is observed in betting on football, the second place on this list is baseball.
FUTURE OF THE BETTING WORLD:
Experts claim that after switching to online mode, the work of many bookmakers has become more transparent Brokers, in turn, report software glitches or suspicious activity on the profile. It is therefore necessary to build more transparent models.
Betting could shift to blockchain technology in the near future. This technology will make activity more transparent as all transactions can be quickly tracked in the future. Many magazines write that in the near future they will actively develop the following areas:
BlockChain:
eSports:
Virtual Reality:
Thanks to blockchain technology, all bets will be placed in a special register. Consequently, it will be impossible to change the results. According to experts, blockchain completely eliminates the human factor and third-party interference in the processing of bets made. Bookmakers that will use blockchain technology will be able to offer their customers new opportunities that did not exist before.
E-sports started to grow rapidly. Experts are confident that this is a popular discipline, which in the near future can become Olympic. The eSports market is now worth around $900 million, with millions of users watching streams around the world. Browsing the list of the best you will find the following games:
- CS:GO
- Dota 2
- Valorant
The popularity of tournaments is constantly increasing, which affects the growth of bets on such events. Some companies are trying to add a little sensation to the provision of virtual reality. Get In The Race’s unique technology has created the effect of presence at horse races, which has caused a great stir among many users.
CONCLUSION:
In the territory of most European countries, the activity of the gambling offices is legal, therefore companies can obtain the necessary license. However, most owners or beginners of online gambling offices prefer a license issued by regions or countries with faithful regulation of gambling activities. Gambling lawyers from Regulated United Europe will advise startups to consider getting a gambling license in Curacao or a gambling license in Costa Rica. This is mainly due to the low cost of the permit documents as well as the period of obtaining the necessary license.
