The history of betting at the races

The sport of horse racing dates back to the earliest eras of modern civilization and to this day is still one of the most popular sports in the world. While it has evolved a fair bit since the times of Greek philosophers and Roman empires, in the UK horse racing still holds great acclaim as the second most popular spectator sport only behind football with six million people attending racing events throughout the year. While it has grown into one of the great sporting spectacles, horse racing remains steeped in its long-standing traditions that many jockeys, trainers and racegoers still hold dear today. Since its very early beginnings the sport has adapted to fit in with modern times and appeal to a wider range of suitors and given the subsequent growth of the sport, it was clearer for the better. Introducing variations in course lengths, obstacles, track surfaces etc. has helped the sport still feel fresh but one modification in particular changed the sport forever. The introduction of betting revolutionized the sport in the modern era as racegoers chance to have their day in the sun by betting on winners of races significantly contributed to its surge in popularity; without betting it’s likely major events such as Cheltenham, the Grand National and Royal Ascot would not have drawn the crowds they have over the years. So when was betting introduced and how did it affect the trajectory of the sport? Here’s a look at the history of betting in horse racing. 

As you’d suspect, innovation has been a key factor in the sport’s development over the years and has been continually sought since its inception. You may suspect that the vast majority of these changes came in the last 50 years or so, but in fact the ancient civilizations from which the sport was first founded did not shy away from making alterations to keep competition fresh. Albeit we would not see most of those changes today, wagons, archery and chariots were all additions made to entertain the crowds. However, of the innumerable amendments made across the centuries, few have had as significant an impact as the advent of betting. The beginnings of betting at the races materialized in the 17th century under King Charles II when awards and prizes were granted to the winners of races. In this era, the ruleset by which the sport is governed was first introduced as the sport began to formalize the processes and establish a framework from which to operate in. In that sense the 1600s had a huge role to play in securing the future of the sport but perhaps the important years for the sport came in the 1700s. The 18th century is believed to be the era where the very first bet was placed on a horse winning a race. While we will never know that for sure there are several indications that tell us that it is likely to be the case. The primary indication amongst those is its recognition as the century where the first modern horse race in England took place at St Leger in 1776. Gambling was illegal throughout the world at this time, but the lack of regulation meant that the chances of wagers taking place at the famous event were comparatively higher than previous events to have taken place. The 18th century is believed to mark the origins of betting on horse races, but it is the following century where the practice really started to emerge as a common practice. A number of the world’s most famous racecourses were built in the 1800s as the sport skyrocketed in popularity amongst the upper classes. Investment in the sport significantly improved as a result, and so too did the regularity of betting. Operators started accepting wagers from customers on a much wider scale and as a result gambling became a widespread leisure to indulge in across all classes. The extensive interest meant that information was made readily available from a number of emerging media formats such as newspapers when beforehand the details, facts and figures were limited to the racetrack. The barriers to the sport began breaking down and horse racing developed into a national sport, the number of races increasing along with it. Horse races in this century often drew thousands of spectators and many of the competitions that existed then still hold esteemed places on the horse racing calendar today. 

This period of history helped improve the accessibility of the sport and with that accessibility, betting became a widely accepted activity. However, the competition from other emerging sports in popular culture such as football saw the allure and enthusiasm for horse racing ebb away over time. Its thrilling nature helped retain a good chunk of its fanbase, but there was little doubt that an evolution of sorts was needed to stop it becoming immaterial. The introduction of the 1928 Racing Betting Act helped achieve that goal and helped control illegal forms of betting, redirecting the proceeds into the continued investment and development of the sport. The Act is  the most significant piece of legislation introduced in the sport’s long and storied history to date. Streamlining the betting process controlled funding and in doing so ensured that the sport not only survived, but thrived for generations to come. The legislation guaranteed that horse racing retained its spot amongst the most popular sports in the world and as a result of that assurance, bookmakers and companies away from the racecourse were able to offer people of all classes to maintain their interest in the sport away from the racecourse. As technology began to develop throughout the century, so too did the accessibility of information and the ability to bet on horses became a much easier process. New ways to bet on the races were introduced; shops were built and phone lines opened. Horse racing tips started off as trackside talk and now we’re in an age where you can bet on any horse from your phone. The internet made betting easier than ever and keeping track of what was going on at the track was simpler still. Laptops and smartphones allow you to watch and bet on the races from anywhere and blogs, news, apps, and social media have all helped further expand the sport’s ever-growing viewership. 

You can even bet on which pixelated, non-existent crosses the line first these days. Horse racing is now a multi-billion dollar industry and as its evolution continues from its small beginnings, there are sure to be more advancements to improve the fan experience in the years to come.