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By coincidence a long established professional golf tournament sponsored by a betting firm took place in Britain last week. Betfred, the third-largest betting firm in the UK in terms of revenue, sponsored the British Masters, an event with a heritage dating back to , for the third year in succession.
It was held at the Belfry, the famous course slap bang in the middle of England, which hosted four Ryder Cups between and This served as a reminder that in the United Kingdom golf has had an association with betting since the 18th century when clubs such as Muirfield had a Bett Book in which bets for money and sometimes drink were recorded by a person known as the Clerk to the Betts or Recorder.
Betting became more structured with the advent of official on-course bookmakers in the late 19th and early 20th centuries before booming when off-course gambling was legalised in Britain in the s and then again with the arrival of the internet and the online bookmakers.
It is perhaps the fifth most important sport in this country. Football is obviously the biggest, followed by horse racing and dog racing and then perhaps tennis and then golf. Betting on the Ryder Cup all depends how close the match is but it will be in the order of half the Masters. For years, betting was, well, just that, a bet in the sense that you pitted your intelligence against those of the oddsmakers working for the betting firms.