The sports betting industry presents one of the most fascinating evolution journeys. The industry which used to be obscure and clandestine has advanced to become a more widely accepted billion-dollar market. As with most kinds of change, it has been driven by time, culture, legislation, and technological advancement. Below we’ll discuss the transition from its early days to sports betting as we know it today.
Earliest forms of sports betting
The earliest form of sports betting can be traced back to Ancient Greece and the Olympic games around 700-800 BC. Ancient Egyptians were also known to bet on chariot races and archery, while the Romans placed bets on gladiator challenges in the colosseum.
During this time, sports betting was only done among individuals. As such it was informal, unregulated, and often illegal. The Middle Ages brought the advent of horse racing in Europe, particularly in England and France, and betting on these events was mostly reserved for nobles.
By the 18th and 19th centuries, modern and regulated sports betting was born in England, around the same time, it migrated to the Americas. Still in its fledgling stages, these laws and regulations had lots of loopholes that would eventually lead to a ban on the activity. It wasn’t until the 20th century that the sports betting space became more structured and regulated. Better laws were created and bookmakers and betting shops were established. The result was a massive boom in popularity, allowing sports betting to become a recognized form of recreation.
The digital age and the rise of internet betting
The late 1900s and early 2000s marked a turning point in the sports betting evolution. This was due to the growth of the internet and the advent of online betting offerings. Naturally, this made betting easier as anyone could place bets from the comfort of their home and without visiting physical shops. The internet also brought about live betting, which lets you place bets after the game has already begun, right up until the last few minutes. It had never been more convenient to bet and win, so this further added to the popularity and acceptance of sports betting across many global communities.
From internet betting to mobile betting
The widespread use of mobile devices exponentially elevated the sports betting industry. Thanks to the convenience of placing bets anywhere and at any time, it quickly became the mainstay for most bettors.
Sports betting companies were quick to hop on the trend by creating mobile betting apps, offering mobile payment methods and exclusive mobile bonuses. Using a DraftKings sportsbook promo code that gives new players up to $150 in bonus bets is a magnet for bettors, and being able to claim it via mobile is the icing on the cake.
It’s amazing to see how far sports betting has come. Throughout human history, it has adapted to fit in with the times. Nowadays, with modern legislation and recent technology, it has evolved into a well-structured and sustainable industry, allowing sports lovers to maximize the excitement of their favorite games.