History of Gambling and Transformation Into Gaming

Gambling is something that many of us today cannot run away from. It has been in existence for thousands of years and is not about to go anywhere. Some even say that it is intrinsically linked to humanity itself meaning that gambling is well within our very own human nature.

Gambling is the wagering or money or anything else of value with the primary goal of winning a material object or money. The wager is often placed with the consciousness of the risk the gambler is taking. For gambling to take place, three elements must be present, which is the consideration or amount wagered; the risk and the prize. Today gambling has evolved into what is now looked at as modern day gaming and is even regulated in most countries and licensed by gaming authorities. It has truly become a, international commercial activity and is said to contribute millions to economies.

History

Gambling can be traced back to as early as before history was written or as early as 3000BC with the six sided dice. Its history can be traced to ancient China where betting on animals fighting was a common practice. It was not until the 10th century that lottos and domino games appeared in China and gambling started to take its shape. The popular games that we know today like poker appeared in the United States in the 17th Century and they say; the rest is really history.

When gambling became mechanized it became easier for the winnings to be regulated more accurately and for the odds to be in everyone’s favour. No more did people have to rely on the goodness of the betting houses since the machine basically determined the outcome.

Online Gambling/Gaming

The breakthrough for online gambling came in 1994 when Antigua and Barbuda passed the Free Trade and Processing Act into Law allowing the licensing of organizations applying to open casinos online. Between then and 1996 a number of laws were passed all of which were directed to online gambling and in 2003, the first live dealer casino was introduced.

Gaming today

The more technology has advanced, the more the gambling industry has also evolved with developments being made geared towards making the lie of the gamer much easier. Given how lucrative the gaming industry is and the fact that people actually like to play, many governments have had no choice but to allow gaming and only control the industry through licensing. There are numerous online casinos in the world today, the best of which are licensed in the various areas within which they practice.

The gaming industry has fast evolved a number of games are now available online and many jackpots can be won from various sites. The only word to players today is to make sure that they are sure to play with an online casino that is licensed and which has a good reputation or which is properly established.

If you have doubts about the reputation of some online casino, visit a website which offers independent casino reviews on the gaming industry today.

The History of Bookmakers

The origins of bookmaking have vanished into the past, but betting, especially on horse racing, has been ingrained in the character of England for centuries. Originally betting would have been between individuals, with the largest sums of money wagered on the Classic races, such as the Derby and the St Leger. Betting was the domain of the wealthy, but betting contracts, where no money changed hands, often led to large debts and animosity. The Gaming Act of 1845 banned this practice and bookmakers began to insist on cash up front.

Betting shops started being set up around the country but were outlawed by the 1853 Betting Act, and were not legalised until 1 May 1961, after which 10,000 were set up within 6 months, with some of the illegal bookies making it through the new vetting procedures, established by the 1960 Betting and Gaming Act. However a lot of them found that entering into the business world was outside of their capability, being unable to set up premises, pay staff and ‘go straight.’ As well as this, betting tax was increased and the Government imposed a 33 per cent tax on the fixed-odds coupons issued by bookmakers. The number of High Street shops began to decline, and now there are just over 8,000.

Punters could listen only to an audio commentary on races in the betting shops, provided by the Exchange Telegraph Company, with each region having a ‘local’ commentator with a ‘local’ accent. In 1986 the regulation relaxed and television screens were permitted which would bring live racing via satellite to the majority of shops. Bookmakers were permitted to open in the evenings and on Sundays, but duty at 10 per cent was driving punters to illegal bookmakers, who, operating in pubs, clubs and factories, accounted for a 10 per cent of betting turnover.

Another two events have had a massive impact on bookmakers – the first when Frankie Dettori rode all seven winners at Ascot in 1996, which resulted in massive payouts. The second was the introduction of the National Lottery and particularly scratchcards in 1995, with the betting shops being denied the right to sell tickets. A Government survey on gambling revealed that 57% of gamblers use the lottery, 20% buy scratchcards and 17% bet on horseracing.

However in the past decade, measures have been taken to rebalance the nation’s gambling impulses. Tax on betting-shop wagers was cut from 10% to 9% and abolished in 2002, in favour of a tax on the bookies’ gross profits. Rules regarding betting on football were relaxed, allowing bets on single matches, and betting shops have been allowed to install fixed-odds betting terminals and fruit machines.

Online gambling is today’s worry on bookmakers but the figures suggest that the world of internet gambling and betting shops could live side by side -the four biggest betting shop companies still seem strongly committed to betting shops. William Hill currently runs more than 2,250 shops; Ladbrokes has 2,350; Coral owns 1,600; and totesport manages 540. Paddy Power, which has 58 British shops, mostly in and around London, announced profits of £55.2m for 2007, half of this coming from online operations. But its UK shops also made money and it plans to have twice as many by 2011.