Tic-Tac Dough - A History Of Betting On Horse Racing

Mankind has been racing horses ever since the successful domestication of the species. Indeed, archaeologists have found evidence of racing being a popular pastime in Ancient Egypt, Greece and Babylon. What has been more elusive is proof that the public placed cash on the outcome.

Betting on horse racing isn’t just a relatively new phenomenon — it’s still frowned upon in some countries. Take Italy, where it’s still illegal to bet on the Palio, a race through the streets of Sienna which dates back to the 1630s. And while people have been competitively racing horses in Portugal since the 1700s, the authorities are still to rubber stamp wagering.

Though it’s hard to say for certain, it’s likely that Britain was the first nation to embrace betting on horse races. The sport certainly has an impressive history in the UK; it’s widely believed that the islands’ first races took place in York way back in the ninth century. But while it’s likely the hoi polloi’s been enjoying a punt for eons, they haven’t been actively encouraged to do so until relatively recently.

From the Middle Ages to the 18th century, gambling was strictly the preserve of monarchs and nobles. Earls and dukes would in fact have a huge influence upon how the sport evolved in Britain. Take Sir Charles Bunbury, the 5th Baronet of Mildenhall, who had a hand in creating three of the five Classics that dominate the flat racing season to this day. As the names of 1,000 and 2,000 Guineas indicate, Bunbury and his ilk were principally interested in prize money. Betting, however, was already starting to shape ‘the sport of kings’ what with the country’s most famous flat race owing its name to Bunbury having losing a coin toss with Edward Smith-Stanley, the 12th Earl of Derby.

As for bookmaking as we recognise it today, that came into being in 1790 courtesy of an enterprising chap called Harry Ogden. Forty-five years later, the passing of Britain’s first Gaming Act legalised trackside bookmaking which in turn gave birth to the first true behemoth of horse race betting in the country, Ladbrokes, founded by Messrs Pennington and Schwind in Worcestershire in 1886. Meanwhile, the full extent of the practice’s popularity became apparent when a concerned Christian group published a report in 1938 suggesting that as much as £500 million a year was being put on the ponies.

Across the Irish Sea, a racing history to rival that of any nation was complimented by the creation of the Racing Board in 1945. The body governed not only bloodstock sales but a gambling industry that dated back to the arrival of the first horses on the Emerald Isle.

More recently, the British government passed further legislation in 1961 that paved the way for the creation of the first betting shops. Not long afterwards, Coral, William Hill and Ladbrokes had become every bit as much a staple of the high street as Sainsbury and Tesco. Similarly, Irish punters took the likes of Paddy Power and BoyleSports to their hearts in the 1980s.

Fast forward another 20 years and the world’s land-based bookies have brought into being a wealth of online betting shops. Indeed, for a time, it seemed quite possible that said entities would put an end to traditional turf accountants. But while the online business might be booming — this infographic by Latest Betting Sites points to a $56.7 billion digital gambling market - there’s still a place on the high street for the good old British or Irish bookie. And with horse racing having gone out of its way to make a day by the track an outing with something for everyone, there are still vast numbers of people who prefer a flutter within sight and sound of their favourite thoroughbreds

One of the biggest betting races each year is the Aintree Grand National which takes place this year on Saturday 8th April. It is expected that in excess of £150 million will be wagered on the Grand National 2017.

Grand National: Betting, tips and odds online..