>
> history of sports betting

History of Sports Betting

Nowadays you can bet practically on all sports events and sports disciplines. Either personally in a bookie office or on the different internet platforms (bookies or betting exchanges). There are many possibilities to make profit with his sports knowledge. But, where does the sports betting come from? When was bet for the first time? Your Livetipsportal has summarised the most important details for you.

First we should clear the term “Bet”. The bet is a form of the gambling and can be called the easiest form, because for betting you need no objects like cards, cubes or anything else. Sports betting have their origin in the 18th century outgoing from the horse racings. In the beginning the horse racings were a pleasure for the upper social class, however, with the time they drew prospective customers of all social classes. The spectator’s bet had originated.

The big charm of betting consists in influencing his luck by logical considerations and calculations. The bettor is observer and in most cases expert of the respective sport. Apropos sports: After the horse racings the box competitions have set up, the football-sports betting – which dominating today – has their origin in the year 1921. Here the football home country England had the pioneering task. In 1934 followed Sweden. In Germany the “football-toto” originated immediately after the end of World War II with the aim to finance the reconstruction of the sport.

With the reinforced amount of the internet the state bet suppliers got strong competition by private suppliers. Meanwhile we have a big number of online bookies which have the most different sports in her programme. The first online betting platforms originated at the end of the 90ies. In 1997 Bwin (earlier betandwin) was founded. In the same year also Interwetten – begun in 1990 as a phone service – offered an internet betting platform. The boom of the online bookies is underlined, for example, by the fact that Bwin disposes nowadays of ten millions registered customers in more than 20 countries.

The success of the Internet-Bookies – like Bwin, Bet365, Sportingbet, Interwetten, Expekt or Mybet – has easy reasons. The principal reason is probably the easy bets delivery. The way to counters or other places is not necessary. Gambling stakes and tip results can be delivered comfortably online.

In the beginning time the “toto system” was also applied at the Internet-Bookies. That means you could bet on three events: Victory home team, victory away team and draw. Meanwhile the offer has grown a lot. Which team scores the first goal? Who wins the first half? How many goals in the whole match? Which driver drives the quickest round? Bets in the last seconds before the kickoff or live bets. All this is possible meanwhile at the online bookies.

Football bets are still the most popular, but nowadays the choice is gigantic. There is practically no sport event on which cannot be bet. Popular sports besides football are tennis, ice hockey, motor sports (formula one and motorcycle), alpine skiing, basketball, boxing, cycling, handball, volleyball, American football, etc.

History of Sports Betting

Beside the online bookies like Interwetten, Bet365, Sportingbet, Bwin, Expekt or Mybet in the last years the betting exchanges take pleasure big popularity. The first and biggest betting exchange is Betfair. Betfair was founded in 1999 by Andrew Black and Edward Wray. Today Betfair has more than one million registered customers. Betsson, founded in 2001/2002, also offers a betting exchange. The difference of the betting exchanges to the bookies consists in the fact that the odd is fixed not by a bookmaker (as it is usual at the bookies), but that the customers offer the bets themselves and agree on the odds.

Timeline:
1921 first football betting in England
1934 football betting in Sweden
1961 first legal bookies in England
1974 Bet365 was founded (english bookie – one of the oldest provider of sports betting)
1997 first online bookies Interwetten and Bwin
1998 followed online bookie Sportingbet
1999 first betting exchange Betfair
1999 followed Expekt
2001/2002 followed Betsson
2002 followed Mybet

Share it!
Permalink