Sports Betting History in the USA
Betting on sports is legalized in at least 18 states in the US and this number is expected to grow significantly in the coming years. After being driven into obscurity for long years, sports betting is finally getting its due place in our culture. In this article, we take a look at its history in the USA and how its legal status has developed over the years.
Prior to the 20th century
It was in 1876 that betting came to the vanguard with the founding of professional baseball. The attitude towards gambling and betting was quite lax and there were hardly any authorities that had any trouble with it. It was rightly viewed as a form of entertainment and was quite acceptable during this era.
Nowadays, those looking to start bookmaking in Kenia can find various such opportunities on online sites, such as Odibets. This is one of the premier Kenia bookmaking site. Here, users can find all types of sports matches happening all across the globe to bet upon.
During the 20th century
The height of popularity was attained by the betting phenomenon in the earlier part of the 20th century. Even though its image was being marred due to a few scandals, its popularity kept growing throughout the 20th century. Nevertheless, one should take note that participating in betting was still illegal even though there were no laws against it.
It was PASPA that effectively curtailed the golden age of betting that preceded it in 1992 when betting was banned.
Las Vegas Sports Betting History
The opening of the Las Vegas sportsbook singlehandedly brought betting and wagering on sports to the fore in the USA. The opening of the first sportsbook also introduced the agreement that 10% of their earnings of the book would be paid to the casino. As such, the concept of ‘juice’ also began with the Vegas sportsbook and to this day, users have to pay the juice on their bets.
Modern Sports Betting
As we skip to current times you will find the status of sports betting has changed dramatically compared to the previous centuries. The introduction of the Internet has also made bookmaking easily available to all. But the spread of the betting phenomenon was cut short by the US government and many restrictions were placed to prevent many payment methods from being used.
However, there are multiple offshore sites that serve sports bettors. These are well regulated and licensed and accept players from across the globe. Ever since the 2000s, multiple online sportsbooks have appeared in the market where punters could bet on sports.
The Future of sports betting
In the US, the decision of the Supreme Court to overturn the illegal status of sports betting was a historical event that has opened up the industry in ways that were unimaginable before. Multiple states have now legalized sports betting and are introducing regulations for the same.
Even though Covid-19 has put quite a strain on the US economy, sports betting adoption has garnered speed and boasts of high voter approval rates. Since it is seen as a lucrative revenue source, many more states are expected to legalize it in the near future.