History
Trace the rich history of sports betting from ancient civilizations to the modern regulated industry we know today.
Showing 121-140 of 140 topics
Matched Betting and Bonus Abuse
Matched Betting is a strategy that utilizes **Betting Exchanges** (est. 2000) to hedge bets placed at traditional sportsbooks, allowing players to extract the value of marketing bonuses with near-zero risk. Initially a niche arbitrage method, it was industrialized in the 2010s by subscription softwa...
The 'Palpable Error' Rule and Bettor Rights
Explore the history and significance of The 'Palpable Error' Rule and Bettor Rights in the context of sports betting.
The Evolution of Betting Exchanges
The **Betting Exchange** revolutionized the gambling industry in the early 2000s by replacing the traditional bookmaker model with a peer-to-peer stock market structure. Pioneered by **Betfair**, this model introduced the ability to **"Lay"** (bet against) outcomes and allowed market forces, rather ...
The Minneapolis Line and the Wire Service Era
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The Mechanics of Same Game Parlays (SGPs)
The **Same Game Parlay (SGP)** revolutionized sports betting by solving the **correlation problem** that previously prevented bookmakers from accepting multi-leg wagers on a single event. Historically, books banned these bets because simple probability multiplication fails when events are dependent ...
Psychology of the Longshot
The **Favorite-Longshot Bias (FLB)** is a persistent market anomaly where bettors overvalue low-probability outcomes (longshots) and undervalue high-probability outcomes (favorites). First documented by **Griffith (1949)**, this phenomenon contradicts the Efficient Market Hypothesis. **Key Drivers:...
Gamification and the Near-Miss Effect
Explore the history and significance of Gamification and the Near-Miss Effect in the context of sports betting.
The Evolution of Same Game Parlays (SGPs)
The **Same Game Parlay (SGP)** represents a paradigm shift in sports betting, transforming a wager historically banned due to **correlation risk** into the industry's primary profit engine. Historically, bookmakers rejected single-game combinations (e.g., QB yards + WR touchdowns) because standard p...
Regulatory Stance on Correlated Parlays
Explore the history and significance of Regulatory Stance on Correlated Parlays in the context of sports betting.
The Tech-Stack Arms Race
Explore the history and significance of The Tech-Stack Arms Race in the context of sports betting.
The Rise of Betting Exchanges
The **Betting Exchange** revolutionized the sports gambling industry in the early 2000s by replacing the traditional "Punter vs. House" model with a **"Peer-to-Peer"** trading ecosystem. Pioneered by **Betfair**, this model allowed users to **"Lay"** (bet against) outcomes, effectively turning every...
Sports Data Rights and Official League Partnerships
The history of **Sports Data Rights** represents a transition from treating sports results as public facts to treating them as proprietary intellectual property. Following the 1997 **NBA v. Motorola** ruling, courts established that scores are facts and not copyrightable, allowing an ecosystem of un...
The Evolution of Parimutuel Betting
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The Psychology of the Gambler: Behavioral Economics
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The Rise of Offshore Sportsbooks (1995-2010)
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KYC and Digital Identity Verification
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The Rise of Proxy Betting Services
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Offshore Sportsbooks and the 'Antigua' WTO Dispute
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The Computer Group (1980s)
Explore the history and significance of The Computer Group (1980s) in the context of sports betting.
The Rise of the Las Vegas Sportsbook (1970s-1990s)
Explore the history and significance of The Rise of the Las Vegas Sportsbook (1970s-1990s) in the context of sports betting.