Wager Mage
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When did bookies become legal?

Betting shops first became legal on 1 May 1961. A few days later News Extra dropped in on some brand-new bookies, and discovered what punters and people on the street thought #onthisday 60 years ago.

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An example of an old William Hill betting shop

Betting shops became legal in England 60 years ago this month and a fascinating BBC archive clip has shown the reaction to the move in 1961. Licensed betting shops opened their doors on May 1 that year, offering an alternative to on-course bookmakers or illegal operations on the streets, and the BBC garnered the public's views in two new establishments in London. The correspondent tells viewers the only inducement towards betting was the lists of runners in shops and besides that likened the experience to being in a small post office. A bet slip was timestamped, as was the receipt, with punters notably sporting smart attire, including gentlemen in suits, in the footage. On the legalisation of betting shops, the response was varied, and on occasion, quite entertaining.

Betting shops first became legal on 1 May 1961.

A few days later News Extra dropped in on some brand-new bookies, and discovered what punters and people on the street thought #onthisday 60 years ago. pic.twitter.com/oSxCyozAZT — BBC Archive (@BBCArchive) May 5, 2021 One gentleman said: "I think nothing of these betting shops, I'd sooner be on the street corner." Another disagreed, saying: "They're a great innovation. It brings the surreptitious and undercover off the streets and into a legal situation. When you have a place like this that's so nice and so well done out, it's a fine thing." Others welcomed the move, saying it should have happened years ago, and it was not just gentlemen frequenting the new shops. What does the future hold for betting shops – and what will they look like? (Members' Club) One lady said: "They're a wonderful idea. They're a great asset as there's no need to run round corners. You can come in here openly, have your bet and there's no fears or worries at all." Another lady added: "They're a very good idea indeed. As long as you back the right horse you're bound to get your money!"

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What does a team +5.5 mean?

For example, let's say the Dallas Cowboys (+5.5) are playing the New England Patriots (-5.5). If you bet on the Cowboys, they don't have to win, they just have to lose by 5 points or less. If you bet on the Patriots, they have to win by at least 6 points.

The most popular form of NFL betting is by the spread. When looking at the spread for an NFL game, each team in the game will have a plus or minus. The team with a + is the underdog, so they are receiving points. The team with a – number is the favorite, so they are giving up points. If you are betting on the favorite (-), they have to win by more points that the spread indicates. On the other hand, if you bet on the underdog (+), they only have to get within the spread for your bet to win. For example, let's say the Dallas Cowboys (+5.5) are playing the New England Patriots (-5.5). If you bet on the Cowboys, they don't have to win, they just have to lose by 5 points or less. If you bet on the Patriots, they have to win by at least 6 points.

How do you read the odds on a spread?

For spread betting, the odds are always close to even. The spread is set differently for each game, which depends on odds makers and advanced algorithms. The odds on each spread will be around -110. It could move slightly if one team is receiving more wagers than the other.

How do spread bets pay out?

Since the odds are similar on both sides, you will come close to doubling your money regardless of who you bet on. Unlike betting on moneylines, the underdog and favorite will pay out close to the same, if not exactly the same.

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