Sports betting is the fastest-growing segment of gaming in the USA and the world.
Total sports bets reached in 2019 $ 69 billion. The state of Nevada kept a share of $ 2.5 billion. The proportion of Americans betting on sports have risen from about 5% in the 1950s to 20% today.
Sports betting while originating at the dawn of time in USA made a formal entry in the 1800s through horse racing. This sport rose in fame and fortune up and until WWI.
In the early days of horse racing bookmakers developed the “Auction pool”. This involved auctioning off bets for each horse in a race. The arrangement rapidly ran out of favor among bettors.
Bookies soon understood that setting odds on individual horses would increase betting carry and, in turn, their hold. Favorite horses would attract a lot of betting money, thus by lowering the winning odds to favorites the attractiveness of other horses in the race would increase.
As horse racing lost attractiveness baseball began to rise in the public’s affection. And with it, opportunities to gamble on the outcome of matches and the World Series.
Baseball “pool cards” became a means to bet on this sport Comparable to present-day parlay cards, pool cards presented wagerers with many baseball betting options.
The odds in these cards however were badly tilted in the houses’ favor. No bettor could make a profit over an extended period of time.
Sports betting in the XIX Century
The 1920s were the Sports Golden Era. These were the days that football and basketball began their rise.
By the 1940s sports betting was surpassing lottery sales. Growth however stalled when bookies realized that they could lose a lot of money should many of their clients enjoy big winnings or a big underdog hit a big win.
Thus, whenever a particular contest seemed to be lopsided, the bookie would refrain from taking any bets. The adoption of the point spread system which created windfall profits for bookies solved this problem.
The point spread system created a windfall for bookies. They could even out the betting handle on each side of a game by making a point spread. That reflected the difference in points between two teams in a game.
This virtually guaranteed a profit for the bookies. Plus, giving them the option of offering many more games to their customers.
Sports betting in the 20th century
As the internet-centered tech revolution that bloomed in the 1990s took over most human activities, gambling also was penetrated by this new form of communications and behavior.
By the end of the 1990s, electronic gambling platforms populated cyberspace. Gambling technology giants, like IGT and Bally, supported them.
Also, some truly talented techies that lacked exposure to gambling, but decoded the mathematical secrets behind gambling, created more sophisticated platforms.
William Sean Creighton AKA “5Dimes Tony”, created this awesome sports betting and gambling business in Costa Rica back in 1999, first locally, and then built an amazing online platform for players around the world, so no one would miss the opportunity, anywhere and at any time, of enjoying waging for any sport in any match.
After 5Dimes Tony’s death back in 2018, anyone would think 5Dimes faith was sealed by a slow decrease of activities until discontinuation of its operations, but far from that, his talented wife has taken the strings of the business and have developed amazing growth and expansion strategies, not just to continue having 5Dimes running, but also to exalt their betting experience and the online gambling services for everyone around the world.
A new era has started for 5Dimes with William Sean Creighton’s wife, Laura Varela Fallas, at the forefront. Positive and long-lasting changes are already happening, not just for 5Dimes, but for the overall gambling experience of 5Dimes members and clients.
Laura’s work confirms that in the world of gambling feminine leadership does have space.