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Horse Racing Book Making History

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Horse-racing is one of the most viewed spectator sports in the United Kingdom (UK) to date, with a rich history of more than twelve centuries. In the early days, only the elite were able to partake in it. However, with the introduction of bookmakers, television, and news companies, it began to appeal to the masses, and became a sport associated with the UK. Bookmaking is the “practice of laying bets on the various possible outcomes of a single event” (Wikipedia, 2016a). In this essay, the history of bookmaking and how it has changed through time would be discussed, as well as that of on- and off-course betting.

Beginnings
The very first professional bookmaker was Harry Ogden, who in the late 1800s “offered prices against every horse in a race” …show more content…

The Betting Levy Act was the start of an era where betting shops were legalised, and business began to bloom. Before, many bookmakers would operate on the street illegally. Or if they were licensed, would not record any of their transactions to prevent having to pay tax, and would bribe police officers if any of them tried to enforce the law (Rock, 2001). This saw struggling bookmakers exploit the law to make their own profit. “When betting shops were legalised … up to 10,000 opened within the first six months (Hey, 2008)”. This saw a rapid increase in the business sector of the gambling industry, making it more accessible to the general public. With more access to betting on- and off-course, horse-racing was bound to become popular throughout the country.
However, there were some mixed reactions towards this law. While many jumped at the opportunity to open up shop, some bookmakers may not have felt the need to have shops off-course as there was a huge startup cost, that at the time that many did not have. One famous name in bookmaking, William Hill, who had “started his business in 1934, wanted nothing to do with betting shops, only buying into them in 1966 (Hey, 2008)”. This shows the difference in opinions bookmakers had to the new act. But one result from this law was assured: gambling was now open to the masses, and it was gaining more

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