Technology and Bookmakers

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It’s possible to think that gambling is an old thing, but this isn’t entirely true. The first evidence of gambling are located in ancient China at around 2300 BCE. They didn’t play the game of blackjack, or gambling on soccer at the time; instead, they used tiles to play a game of chance.
Since this time, the realm of gambling has gotten bigger and evolved. Sports betting changed immensely when bookmakers were introduced. Bookmakers can offer odds for sporting events, which adds an additional element to betting. We’ll discuss the history of bookmaking , from its beginnings until the way we use it now.

First, what exactly is Bookmaker?

A bookmaker, sometimes referred to as”bookie” or “bookie,” is a firm that provides odds on sporting events. Bookmakers use maths and prior tabulated data to make predictions of what’s expected to occur in the sport The odds they provide indicate.

The bookmakers accept bets on the odds they provide. The match or event is played out, and based on the outcome, and the bookmakers have to pay the winners. Bookmakers make odds so they’ll always win no matter the result.

The First Bookmaker

In the 17th century the wealthy were mainly involved in horse-bets or cockfighting. Meanwhile, the people with less money gambled on dice games amongst friends. In the 1790s the way bets on sports were changed after the first bookie, Harry Ogden, started his business in the United Kingdom. Before Ogden there was no limit to betting on who would win only. Nothing more.

Harry Ogden spent a lot of his time at the track and specifically Newmarket Health in Suffolk County. He examined each horse’s race and their performance. With his studies he noticed that certain horses had a better performance than others, even if they weren’t running in all races. The horse’s owner began to track this and then put specific odds on how the horse would do.

Prior to the start in the match, Ogden announced the odds and permitted people to bet on his odds. Harry Ogden was wealthy enough to compensate winners because he created odds that would always to favor his side. In spite of the horse that won and walked away with the money every time.

In the following years, bookmakers grew and changed the way we place bets on sporting events of all kinds which included horse racing.

Harry Ogden started bookmaking, but a lot has transpired from that point until now. Many others after him set their own odds and went to race tracks specifically for bettors.

Since it was a new concept that was unregulated, there were no rules or laws to ensure that the bookmakers would pay in a timely manner. This remained a problem until parliament controlled gambling with legislation passed in 1845. Gaming Act.

The law didn’t prohibit betting but it discouraged it, stating that betting on sports was not valid as a legal contract. In a way, this indicated that bookies were able to steal punters’ money, and there was nothing that law enforcement could do about it.

Then there was 1853’s Betting Act which didn’t make it illegal to gamble , but limited it to the track, as the majority of people were creating betting houses. However, this created an enormous increase in gambling on the streets.

What it also did was bring about the excitement of an afternoon at the track. During this time, the middle class was growing and was able to gamble a little bit. Horse races began to open up across the country and bookies kept getting richer and wealthier.

1960 Betting and Gaming Act

In the 1960s, we saw the first brick and mortar book stores when the their 1960 Betting and Gaming Act was passed, which legalised betting shops. This radically changed the bookmaking business because they could take odds on more than racing horses. The bookmakers were starting to offer bets for cricket, rugby and football.

Many bookmakers were additions to casinos, because if you like sports gambling it is likely that you would enjoy playing poker too. Since the 1960s many bookmakers have made the decision to expand this way or completely abandon the horse racing tracks.

The bookmakers introduced odds on sports that were not available before. Some even started to include gambling on the international sporting events as they grew. A few of the most famous bookmakers of the time are William Hill and Ladbrokes.

Technology and Bookmakers

Things were going well for bookies due to the increase in popularity of sports betting for all people. However, issues started to surface again after the internet was introduced. Bookmakers saw this as a perfect opportunity to reach more patrons, not just from The U.K. but from all over the world.

Intertops began as the first bookie to get online, with the rest of the brands following shortly after. Prior to 2005, almost everyone could have an online site for sports betting and accept bets from customers all over the world. Bettors were also at risk of scams or crimes because there were no laws governing betting on international bookies.

The Gambling Act started to protect British punters and focused on making honest online bookies. Besides, the government established the Gambling Commission. It granted licenses to betting websites operating legitimately. Whatever the country the location where the bookie website is based, if it desires U.K. punters to participate in its games, it must be certified from the Gambling Commission.

Bookmakers Today

Within the United Kingdom, the 2005 Gambling Act and the required Gambling Commission approval is still legal today. The industry has become huge all over the internet. Many punters love the convenience of not having to leave the comforts of their home to get into the action.

Some bookmaker’s sites provide live streaming and in-play betting on sporting events while they are currently taking place. There are usually 50 or more sports that can be bet with an online bookie including motorsports, darts MMA, table tennis and many more.

Today, you can bet on things such as politics, entertainment, esports and virtual sports. The betting options are no longer limited to live sporting events. There’s been a rise in the number of websites offering bonus codes online such as loyalty programs, cashback and loyalty.

There are many ways to bet online using various betting strategies that have worked for many gamblers. Some gamblers bet on sports as their primary income and have become quite wealthy by betting online. It’s not difficult to start; you just need to have a plan.

Get in touch for bookies closing times today.

Although having so much access to gambling is fun, for some, it’s also a problem. There’s been an increase in the number of gamblers. Some bookies make it easy to deposit more money into their accounts. All you need to do is one click, and you’re able to play over and over. It’s convenient to gamble online, but is it really that easy?

There will likely be more expansions of bookmaking firms in the years to come as technology improves. The only thing we know for sure about the future is that it will continue to be gambling online or offline.

The Bottom Line

Gambling has been around as long as we remember , and it continues to evolve as we progress. There has been a lot of changes since ancient Chinese tile games. Today, we are betting on esports and more.

With Harry Odgen’s help, we have bookmakers that have made sports betting more interesting. There are many varieties of gambling on sports, and there are regulations gamblers in across the United Kingdom can enjoy and be confident about doing so.