No matter what you do, no matter where you go, for as long as there are at least two people trying to outdo each other in a battle of skills, wits or strength – be it in a foot race or hand-to-hand combat; you can be sure that some spectators - who will always play favorites, will bet anything and everything that his pet player will – against whatever odds, eventually win the tournament. This form of gambling activity, which many associations are desperately trying to eliminate, is termed as sports betting.
Sports betting, in its simplest form, involve placing bets or wagers on the predicted outcome of sporting events. Basically, you place money on who you think will win and if your choice does win, you get what others bet on your team’s opponent. However, when other aspects of the game such as handicaps, odds and other components are factored in, the act of sports betting becomes slightly more complicated yet increasingly more interesting and addicting.
Though betting on the outcome of sports may have existed even during ancient times, it is believed, that sports betting, as it is known today, had its humble beginnings at the turn of the century. Baseball may have been the very first professional sport that was subjected to sports betting when it rose in popularity sometime during the 1800’s. Betting on baseball started through the use of baseball ‘pool cards’ where bettors can place wagers for as low as 10 cents. Between the 19th and 20th century, members of the high society would flock to horse races and, just for fun, place bets on the racers. After the American Civil War, attending horse races no longer became the exclusive past-time of the upper crust, as many individuals from other socio-economic classes developed an interest in the sport. The 1920’s was considered by many as the Golden Era of sports, and this era not only ushered in a renewed interest on sports in general: from collegiate basketball and football to professional events such as boxing, basketball and the like, this period also exhibited a marked increase in sports betting, which may have been triggered by the Great Depression. At this point, the act of sports betting no longer was the leisure activity of the rich; it also became popular amongst those who saw gambling as their chance to escape the clutches of poverty.
Since then, the activity grown by leaps and bounds and is now one of the most lucrative industries today. Many governments and professional associations strive to put an end to this form of gambling but, fortunately or unfortunately, as long as there are games to be played, there will always be bets to be made.