subject: The Historic Background of Horse Betting [print this page] The Historic Background of Horse Betting The Historic Background of Horse Betting
Horse betting is probably as old as horse racing itself. When prehistoric tribesmen of Central Asia domesticated wild horses, they also learned to race their horses. Unfortunately, there is no official record when was the first bet was made during a prehistoric horse race. It was generally assumed that the ancient nomadic tribes engaged in horse racing for the sheer fun of it.
Horse Betting During the Ancient Era
Horse betting between private individuals probably started during the time of the ancient Greeks. The Greeks were avid fans of chariot races and bets were exchanged among spectators. The sport also became the national obsession of the Romans.
During official Roman holidays and festivals, horse racing and chariot racing attracted thousands of spectators and bettors. Roman aristocrats placed bets on their favorite champions. The public also engaged in horse betting but standard betting rules were not yet known during those times.
Betting on Horses during Medieval Times
Horse racing as a sporting event became officially recognized during the 12th century. It was the time of the Knights and nobilities. Noblemen bred horses and they trained them for speed, stamina, and strength. These horses were used during battle campaigns and to race against other horses.
Noblemen will place bets on a two-horse race and the winner will take all the winnings. Wagers were made in private and it became the favorite diversion of medieval nobility. Some horse racing events were open to the public. So this allowed commoners to watch the races and make bets among themselves.
The Development of Modern Horse Betting
Betting on horses became official when horse racing started to be recognized as a professional sport. Organized multi-horse racing started during the reign of Queen Anne in the 16th century. It also marked the beginning of modern races where spectators formally wagered.
Formal horse racing clubs and derbies started to appear in England. These were grand events that attracted breeders from different kingdoms and noble estates. Soon, horse betting became a universally recognized sport and a legalized form of gambling. The practice eventually spread throughout Europe, South Asia, and the American colonies.
In America, the spread of horse betting was unprecedented. There were two ways that punters can place bets on their favorite horse during the early days of the sport. First, they can go to the race track to personally wager on a horse. They also have the option to use a bookie to place the bets for them.
