Historical perspective of sports betting
Since medieval times men and women have always loved to gamble. The thrill of the unexpected has always intoxicated them. With little forms of entertainment available, gathering together during sports events was a huge release. And to wager on any of the games was the perfect thrill. One did not lose much and the chance of winning a big prize was seductive.
It is reported that archeologists found small objects which looked very suspiciously like dice. But has never been proven.
The earliest evidence of organized sports betting can be traced back to the chariot races of the Roman Emperors. As it is now the Romans formed betting syndicates on a particular chariot or a favorite charioteer. It is said that in the Roman provinces battles were lost and won all due to the fixing of a chariot race.
Greyhound racing which exists even now can be traced back to King Canute of England as early as 1014 who decreed that only the nobility could bet on these graceful canines. Sports betting was a big deal even then.
Greyhound racing eventually evolved itself into horse racing. And in the beginning it was mostly the gentry who wagered on the horses. Eventually it permeated down to all classes of society.
It is said that horse racing was such a rage in the US that millions of so called "saloons" mushroomed throughout the country. All of them connected by telegraph wires to announce the results, albeit a little later than the actual time of the race.
A classic example of how a bunch of conmen used this time lag to make a huge fortune was portrayed in that classic award winning film “The Sting" with Robert Redford, Paul Newman and Robert Shaw.
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