Gambling and betting is an extremely popular pastime all over the world, especially in the United States and United Kingdom, with a focus on sports betting. This is quite an old pastime as well, with betting odds being offered on horse races as far back as the 1700s. In the 1790s, Harry Ogden became the first person to earn a profit from bookmaking from his view of the winners operating from Newmarket Heath. After studying the field, he would lay odds on each horse rather than just two propositions that were the standard up until this point. As time went on, all types of gambling became limited to the racetrack due to a law that prohibited public games of cards where money was at stake. It was in light of this that brick and mortar bookies opened up in the mid-1800s to allow gambling on sports other than racing.
Moving with the times
Of course, we have come a long way since then, with betting and gambling now accessible at the touch of a screen or the tap of a button. Gambling has evolved significantly over the last 20 years as well with the advent of smartphones, as online betting has accelerated and become one of the biggest drivers of growth for the industry. More and more people use their phones to place bets today, and this has become even more pronounced in the wake of the pandemic since last year, with betting shops and casinos having to stay closed. These events have only served to make online betting more and more popular, in a continuation of the trend that began in the 1990s, when bookmakers first realized the potential of the Internet.
Another big step, at least in the UK, was the Gambling Act of 2005, which was brought in to protect British punters and focused on creating honest bookies online, along with the establishment of the Gambling Commission. Licenses are now provided by the Commission for those bookmakers wishing to operate in the UK.
Brick and mortar stores migrate online
Online betting has been the biggest trend over the last 20 years, with sites such as betting.co.uk/bookmaker/ and others offering odds from everything including sports to politics, entertainment and even the weather. Another related trend has been the rise of esports betting – where punters are able to place bets on esports matches. Esports is basically online gaming, but on a competitive and professional level, and is another pastime that has become extremely popular, with annual tournaments having prize money in the tens of millions of pounds, and professional teams participating. In general, most betting platforms will have 50 or more sports for fans to bet on, including tennis, football, MMA, boxing, cricket, darts, motorsport and many more.
The biggest advantage for bookmakers today as compared to 20 years ago is the ease of access to betting and gambling tools that the general public have. You can go online and place a bet on a match from your phone in a matter of seconds, and this has understandably changed the industry. Even though physical betting shops still exist and are quite popular, more and more people are shifting to the convenience of online betting, and we can expect this trend to grow over the next few years, especially if the events of the pandemic turn out to be a lot more permanent. Of course, there are problems that have cropped up as a result of this as well, but the government is working in tandem with the industry to provide solutions and create a secure and safe gambling industry that can be enjoyed by everyone.
