Sports Betting History

Sportsbook industry depends on data, information and statistics. From the very start, when creating odds, monitoring odds fluctuations to sports event end – final score, all details within match betting must be done efficiently.

When we decided to build Sports Betting Solution from scratch,  we knew it’s going to be a long ride. The main idea was, to create platform that will serve all clients needs and their customers needs as well. Goal was to meet all functional and nonfunctional requirements – to create solution that will be available through main distribution channels: retail, web, mobile, native mobile apps.

The most valuable and starter point is definitely Pre Match Sports Betting Service. Why? Pre Match sports betting is still the core system of any betting platform.

Brief Sports Betting History

When was sports betting invented?

 

It’s hard to say when, but we have sports betting from the moment sports were invented and played. Every man has favorite sport / team and betting gives a little extra on the top by placing stake for the final outcome.

Sports betting was first recorded more than 2K years ago. Greeks loved sports which led them to create Olympic games. Also Olympics are also known as earliest event which included betting on athletic.

Betting spread to Rome where even was legalized. We all have heard about Gladiator Games. And as sporting event, Gladiator Games had huge influence on entertainment and gambling development at the time. Luckily, those games came to an end, but betting continued to grow and developing to other countries.

Medieval was tough and leaders were fighting against betting through laws. As a consequence, betting never stopped but was pushed to the underground.  

Later, England was the crib of sports betting industry. Mainly because of horse racing betting. This kind of betting was then spread to the rest of the world, especially in United States.

Anyways, Europe is still on the throne when it comes to sports betting market.

When we say gambling, what most people first think of is Las Vegas. Las Vegas legalized betting in casinos as an extra product. The main problem was, that people needed to walk into casinos in order to place bet. So, if you were not in Las Vegas in the fifties, than it’s bad luck for you if you wanted to place your wager.

Nowadays, Las Vegas is still big part of sports betting industry and generates huge amount of profit. But still, this profit is only tiny percentage of the total betting revenue worldwide.

 

Sports betting expansion

 

Sports development and sports event spreading, made sports betting highly popular. Most of the sports we bet on today, exist only few centuries. Today, football (soccer) is the leader in sports betting. But last decade, tennis, basketball, hockey are in serious expansion.

Sports betting is not only part of entertainment industry and fun daily activity for wide number of people across globe, it is also highly profitable industry for sportsbooks operators.

 

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Original source: https://kayzor.com/en/sports-betting-history/

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