Brief History Of Horse Racing In The US
By: Richard Bleuze
In the 19th century, horse racing was by far the most popular betting event and would remain number one for over a century. But after the end of the Civil War in 1865, new horse tracks started changing the landscape of America.
Betting on horse racing was considered a rich man's game. However, after the Civil War when new tracks began springing up in the United States, everyone started to get in on the action.
At first, horse betting was far from the hassle-free event it is today. Back in the old days, bookmakers would start auction pools on each and every horse on the track, which was troubling since it would only allow one bet per horse. Obviously, this formula was short-lived because only a few would want to bet on a horse they didn’t believe in. This is why the formula was improved and based on odds; the more bets a horse would have would alter the odds. Whenever a horse or two received too many bets, the bookies would simply lower the odds of other horses and make them more attractive.
Horse racing would eventually hit a wall. With so many horse tracks in the United States and the spread of other attractive sports, everything slowed down and reached a peak in 1925. At this point, professional sports leagues (mainly baseball) received growing attention.
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