Bookmaking, or the practice of taking bets on the outcome of events and paying out winnings to those who correctly predict the results, has a long history in the United Kingdom. In fact, the origins of bookmaking can be traced back to the Roman Empire, where bets were placed on chariot races and other sporting events. However, it was in 18th and 19th century England that bookmaking truly took hold as a popular pastime.
During this time, horse racing was a popular sport in the UK, and public houses and taverns often served as the centers of betting activity. These establishments would take bets on races and pay out winnings to those who correctly predicted the winners. At the same time, professional bookmakers, known as “bookies,” began to emerge, traveling to races and taking bets from the spectators.
As the popularity of horse racing grew, so too did the bookmaking industry. In the early 20th century, legal and regulated bookmakers, known as “turf accountants,” began to operate in the UK. These bookmakers were licensed by the government and were required to pay taxes on their profits. In addition to taking bets on horse racing, these bookmakers also offered odds on other sporting events, such as football and cricket.
The Betting and Gaming Act of 1960 marked a significant turning point for the bookmaking industry in the UK. This act legalized commercial gambling, including the operation of licensed betting shops. Prior to this legislation, betting had largely been conducted through illegal bookmakers or at racetracks. The Betting and Gaming Act allowed for the establishment of betting shops throughout the country, and by the end of the 1960s, there were over 25,000 such shops in operation.
In recent years, the bookmaking industry in the UK has undergone further changes as a result of government regulation. The Gambling Act of 2005 established a new regulatory framework for the industry, including the creation of the Gambling Commission to oversee the sector. In addition, the Act introduced new measures to protect problem gamblers, including the requirement for bookmakers to display responsible gambling messages and to offer self-exclusion schemes.
Despite these changes, bookmaking remains an integral part of UK culture. Bookies can be found at sporting events and racecourses throughout the country, and their presence is often depicted in popular media. Whether legal and regulated or operating in the underground, bookmaking has played a significant role in the history of the UK and is likely to continue to do so for years to come.