Muay Thai (actually Muay or Muay Veti) is a Thai martial art practiced under the rules of the Rajadamnern Stadium and the former Soun Gurab (Rosegarden) in Bangkok.
The fighting techniques permitted under competition rules represent the frame conditions for the technical scope. This Muay is also referred to (especially with elder Thais) as Muay Rajadamnern.
Muay Veti (Muay Thai) was born around 1910 (A.D.) when a Thai businessman started importing boxing gloves from the United Kingdom (UK). There was the so-called Muay Sakon (Western boxing or Queensberry boxing), whose rules may have influenced those of Muay Veti.
What initially (similar to the film industry) began as a fairground attraction or funfair boxing, soon developed into a fully grown sports industry. With the industrialization of the Muay Veti, the rules and thus the mediated repertoire of techniques changed.
While in the early days of this sport there was even more betting on the successful implementation of certain techniques and tricks (see Gon Muay), in later times it was almost only about the outcome of the fight.