Behind the Odds: Bookmakers History

The world of betting is filled with thrill and excitement. Known to mankind since ancient times, they have created a reputation in gambling environments. This article is precisely about the creation of betting. It will introduce you to their history, and their development over the years. According to AZ bookmakers this will become your little guide through the bookmaker’s history. 

Number 6 –  Beginning 

The beginning of bookmaking is given in Ancient Rome and Greece. Gambling gained popularity in both places at an unprecedented rate. Betting was informal and occurred on all types of sporting events. Like in Ancient Rome, betting was not only on sports but also on gladiatorial battles, chariot races and much more. The first bets in the world were recorded on wax. Betting took place in the great arenas, yet remained informal, occurring between individuals. Bets were made through people, not through regulated structures. Gambling despite all prohibitions was socially accepted. It was an everyday occurrence for some people. 

Number 5 – Middle Age betting? 

The Middle Ages were the arena for betting and gambling. Even though they were under regulations, and some forms were banned due to moral concerns, betting still existed. Unregulated betting also continues to exist. Again it was hard to find a structured bookmaking system, so the odds and bets were placed by individuals. There were different regions with custom rules around betting. Some places had strict rules. Betting was the popular thing to do in social gatherings. There was a risk of prohibitions since gambling and betting were not officially accepted by the authorities. This was the beginning of a new era in betting. 

Number 4 – Renaissance and betting

During the Renaissance period many changes were made to gambling and bookmaking. The first gambling establishments were created around the world and especially in Europe. Gambling then was for the aristocrats and they mostly took advantage of the gambling fun. Regulations on betting and gambling in general began. The aim of the regulations was to keep revenue generation but to control the activities. New games began to enter the market. Despite the fact that gambling is becoming more socially accepted, it also faces a lot of criticism. 

Number 3 – The Bookmaking industry in the 20th Century 

The 20th century was a big moment for the bookmaking. Many types of sports betting developed at this time. One of them being horse racing. Around the 1960s, the opening of bookmaking houses began, and with this came their legalization in certain countries. After the end of the first half of the century, when television became popular, the heyday of bookmaking began. More and more sporting events were broadcast and made it possible to bet on them. New regulations were introduced offering fair play. At the turn of the century, the first online sports betting platforms appeared. 

Number 2 – The legalization process to Nowadays

Over the years, the process of legalizing bookmaking has evolved. Measures have been taken from time to time to curb it and ensure fair play. Licenses for sports betting and gambling have started to be issued. Guaranteeing winnings became a practice. This was done to curb fraud and illegal activities. Gambling activities became fully regulated to protect the players. This is also proving to be a challenge due to several factors, such as the attempt to eliminate its harm. Around the world, there are many different conditions for gambling. Each country has its principles and laws through which it regulates the activities of bookmakers and casinos. According to AZ bookmakers, you can find different bookmaking sites that meet the standard in your country. The processes of legalization and regulation are lengthy and you should keep on finding legitimate gambling and bookmaking operators. 

Number 1 – The Bookmaking industry Nowadays:

Today, the bookmaking industry has developed to a really high level. Online platforms are the most popular way to bet on sports. They allow betting on almost any sport you can think of. As you can afford to bet from almost anywhere in the world and as well as from your own home. Bookmakers now have global popularity.  There are great new technologies for odds calculations and risk management. You can bet live as well as personalise your experience.  There are strict rules aimed at consumer protection and fair play. There is huge competition with bookmakers, making the market huge and giving rise to constant change. 

This fast-growing industry has made tremendous strides since its initial appearance in antiquity. It has shown tremendous technological advancement and is spreading all over the world. 

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