Horse racing betting has evolved over the years. It began as betting between two individual owners, then graduated to parimutuel betting between large groups of patrons. It wasn’t until off track betting was introduced that horse gambling took a huge leap forward.
We have put together a little look at how OTB betting grew and became the father of online horse betting. You might be surprised to find that today it is possible to have an entire off track betting parlor in the palm of your hand.
The Invention of OTB Betting (off-track betting)
In the early days of American horse racing most bets were made with bookies on the track. This meant that most bettors were restricted to betting on the races they could attend. Eventually runners were employed and bettors could wager at different tracks without being present. As you might imagine, this type of betting was suited to corruption.
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A bettor might have to wait days to find out if his horse won or lost by reading a news report. When he finally did get the news, the outcome could have been misrepresented to him by the bookie who was now long gone. There had to be a better way to take bets between the patrons of different tracks.
You could probably say that the parimutuel system of horse betting is what made off track betting possible. We have gone from bookie betting to parimutuel betting and now sites like offtrackbetting.com which allow you to bet with a computer or tablet. All of this became possible when tote boards were able to create and link betting pools across the country.
The very first OTB betting parlors are often associated with New York City. They began to appear in 1971. The residents of New York could then make bets on many street corners in Manhattan. All they had to do was walk into an OTB parlor, pay the money to make the bet, collect the ticket, and wait for the results while watching the race on a simulcast.
OTB Mobile Wagering
The next step in the evolution of OTB betting was OTB mobile wagering. It began with so-called telebet platforms. The bettor could create an account, fund it at an OTB, and then make bets from their home by calling a special phone number.
The problem with that was not being able to see the races from home. Today, this is not a problem. OTB mobile wagering has given way to online betting platforms that are much like an OTB parlor that you can use on your phone or tablet. You can even use the online platforms to watch the races as they are streamed live from the host track.
Online betting platforms have advanced banking options, allowing the bettor to make deposits with credit or debit cards or through a bank transfer. The processing of deposits and withdrawals is very fast, and funds are made immediately available in most cases.
OTB Betting With an Off-track betting Casino
It seems like the next step in off track betting is the combination of horse racing betting with an OTB casino. This is being seen in some US jurisdictions which have now legalized online gambling. TwinSpires is one of the most recent to throw its hat into the online sports betting and online casino arena.
An OTB casino is able to offer multiple types of online gambling under a single umbrella. This makes it a more convenient option for the bettor who enjoys casinos games, poker, and other activities such as horse betting.
OTB Bet Now
Off track betting was once the domain of the big city horse bettor. It is possible to OTB bet now for just about everyone in the world thanks to the online racebook. This has opened up a vast number of opportunities for those who want to expand their betting beyond a local circuit.
You can find online racebooks today that are offering quality racing 24/7. In addition to all of the tracks that are offered in the United States, many tracks in other parts of the world can be accessed. This includes horse racing from Europe, Japan, Australia, and many other locales. You can even bet Hong Kong horse racing when you choose to OTB bet now.
We believe that there are many advantages of betting horse racing online. The biggest of these is convenience. Just like the original OTB betting parlors made it more convenient for bettors, the online racebooks do the exact same thing. You can sit in your living room and bet from home with your phone. You don’t have to spend a lot of money to travel to a live race track, and you don’t have to miss out on the biggest days in horse racing.
We should also remind you that betting now with an online OTB could mean free money in your pocket. Some of the racebooks today are giving new players matching deposit bonuses or rebates on losing wagers. That is money which can be added to your bankroll.
The off track betting parlor may have changed, but it still serves the same purpose. Sign up with one today and start claiming your share of horse racing winnings.