Sports betting has existed for as long as sports activities have been there. The industry has undergone some tremendous changes, especially with the advent of technology such as the internet. Currently, punters can place their sports bets on online platforms like Betway88,
something that was not possible in the past. Read this article further to take a sports betting trip down memory lane.
Reports suggest that sports dating dates back over 2000 years. It is believed that the first bets on athletic competition were during the first Olympics introduced by the Greeks. Betting then started spreading across the world, with the next stop being Rome.
In Rome, the punters would place bets on gladiator games and even when the games were stopped betting survived and continued its spread to other kingdoms. Some religious leaders came up with laws that banned sports betting, forcing it to go underground. The underground sports betting continued to grow with new sports events being introduced.
Horse racing brought sports betting to England, where it became very popular. The English were responsible for spreading betting to the rest of the world, where it was embraced as a pass time activity.
Sports betting has continued to grow to date, with online betting platforms like Betway88 reaching people from almost all corners of the earth. Currently, it is no longer just a fun activity but also a billion-dollar industry.
Recent Sports Betting History
Las Vegas legalized sports betting in the 50s in the land-based casinos. The challenge was that punters had to travel to the casinos to place their bets. If you were not close to Las Vegas, you would miss out on an opportunity to place a bet on a sports event.
There are also numerous underground, illegal bookies handling sports bets all over the US. Many countries have prohibited the operations of bookies, but punters still do it anyway.
Online Sports Betting
The introduction of online sports betting led the industry to grow to unprecedented levels. The advent of the internet made sports betting to be available to everyone around the world.
Punters no longer have to travel to Vegas to place their bets; they can do it from the comfort of their home. Online sports betting platforms like Betway88 also offer gamblers the chance of live betting where they can take advantage of changing betting lines.
Online betting was also pushed to the next level with the introduction of mobile betting, which made it even more convenient for punters. With mobile betting, punters can now place bets on the go.
The Future of Sports Betting
The current sports betting architecture was built to cover live sports events. But what the global pandemic has taught the world is that there could be times when there are no live sports events. To fill such gaps, the sports industry introduced virtual sports.
Even though virtual sports activities were there before, they were appreciated more in 2020. In the future, most sports betting platforms will host virtual sports like Esports, increasing the markets for their punters.
Another change you should expect to see is improved legislation on online sports betting. More jurisdictions will pass legislation that will regulate the online sports betting industry.