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This is an excerpt from Business of Sports Betting epub, The by Becky Harris, John T. Holden & Gil B. Fried.
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Sports and betting have been carefully intertwined considering that the start of arranged competitions. Even bet on sports:
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- As far back as 4000 to 3000 BC, ancient Egyptians bet on dice, parlor game, and tasks of skill, such as chariot racing and fencing (Bulski, 2020).

• Betting on sports happened during the ancient Olympic Games, around 800 to 700 BC ("Sports Betting History," n.d.).
• In ancient Rome, wagering on video games and races was prevalent. Though gaming was occasionally banned in ancient Rome, exceptions were made for vacations, on which gambling was embraced. In the very same era as the early Olympic Games, Romans bank on chariot races (De Haas, n.d.).
  
  In 1612, King James announced the very first lotto in Britain, an occasion that would play a pivotal role in funding the Jamestown Colony. The lotto consisted of people purchasing tickets, which were then positioned inside a barrel or drum, and then a name being chosen. Lotteries played a crucial function in America's advancement, with much of the country's first public structures, colleges, roadways, canals, and spiritual buildings being funded through both public and personal lottery games. In 1776, the First Continental Congress began a lottery game in the 13 colonies to fund the Revolutionary War (Little, 2019).
  
  British inhabitants also brought a passion for horse racing with them, and the very first racetrack was established in 1665 on Long Island in New York. Despite durations of unpopularity, horse racing has maintained a constant existence in the United States because at least 1665, an anomaly among regulated forms of gaming ("Horse Racing History," n.d.).
  
  The growth of the United States westward saw a rise in gambling activities such as poker and other card video games. Illegal betting establishments were regularly overlooked by authorities, and the goings-on were viewed as a lesser evil than a few of the other activities taken part in during that period, such as brawling. Some cities, such as San Francisco, even certified minimal forms of gambling as a method of raising revenue (Holden & Edelman, 2020).
  
  Professor I. Nelson Rose has actually categorized 3 waves of legalized betting in the United States (Rose, 2010).
  
  1787 to Mid-1830s
  
  - In this duration, gambling was mainly outlawed but was permitted to raise income by means of lottery games or raffles.
• Lotteries were regularly operated by both public and private organizations