Betting in sports is said to have originated some two thousand years ago. It is said to have been originally an idea developed by the Greeks. But it was the Romans who legalised gambling in their gladiator games and chariot races. They were the ones first to establish an organised gambling system. It went on to become an integral part of their tradition and influenced their cultural identity. Even after the gladiator games ceased to exist, betting was still on. How did gambling, a casual bet among social groups, become a booming industry with mass media predictions like the Australian open odds and other sports betting?
Horse Racing
The system of sports betting arose to its glory in the 18th century. Horse racing was becoming more and more popular, especially among the Aristocracy. ‘The Sport of Kings’ was considered heroic, and soon betting on horses became highly fashionable. As time went on, new varieties of sports started emerging. People from different classes started gambling according to their economic levels. From Europe, the practice of betting spread quickly to the United States and other countries.
Influence in Australia
In Australia, men started gambling in 1810, just forty years after James Cook first discovered the continent. A horse race in Hyde Park was the first known systematic gambling practice in Australia. In the beginning, like most of Australian culture, gambling styles were mostly European. As time passed, Australian open betting became a part of the new settler’s identity. The Australians also developed their races like the greyhound races. However, horse racing remained on top of every gambler’s list. The widespread practice of gambling gave rise to a new form of employment: the Bookmaker. The Bookmaker would place bets on behalf of the better and take wagers.
The Totalisator
The total game-changer for sports betting in Australia was the Totalisator. The term “tote betting” came from this invention by George Julius in 1913. A Totalisator is a vote-counting machine which reduces the possibility of fraud by displaying the bet count and adding up how much each person won. It also helped players to analyse the pattern of betting since every bet was out in the open. It was instrumental in eliminating the fear of gambling fraud.
Online betting
Online betting websites emerged in the middle of 1990s and early 2000s. In Australia, betting became legal in the year 1980. Later the Interactive Gambling Act of 2001 opened a new world of legalised and authorised websites for betting. Information was freely available online, and it helped almost anyone and everyone bet on their favourite game. Experts also started giving predictions for all main sports events like the Australian Open odds. There are both open odds and closing odds, the former being expert predictions and the latter being the general public’s prediction. Today, thousands of news articles report about the opening odds before every game, and the closing odds are available online. It is aimed to guide new punters and people who bet once in a while, properly.
Throughout history, ever since betting came into being, it has been prevalent. Therefore, people should think of legitimate and reputed betting sites to place their bets.