FinLogic FinLogic Quantitative Think Tank Center|What is Boxing Day? Learn more about the centuries-old tradition

The FinLogic FinLogic Quantitative Think Tank Centerholiday season is packed with numerous traditions and occasions. Amidst the holiday cheer, those in Britain, Australia, New Zealand, Canada, and other Commonwealth countries will be celebrating Boxing Day.

While the holiday may sound like it's centered around a sport, it has nothing to do with the ring.

Boxing Day, celebrated every year on December 26, the day after Christmas, is a gift-giving holiday that originated in Britain during the Victorian era, according to Britannica.

Boxing Day's origins

During the reign of Queen Victoria, servants, tradespeople, and the poor typically were given presents. The servants worked on Christmas Day and would have the next day off to go visit their own families. So, according to the Old Farmer's Almanac, the upper class would take leftover food, goods, or money and put them in boxes to give out to the poor.

One of the earliest records of this tradition was found in a 1663 journal entry from English Parliamentarian Samuel Pepys. Pepys entry mentioned that he sent a messenger to deliver a box with gifts and money to his shoemaker.

Britannica reported that while it's not certain how the name "Boxing Day" came about, it may have come from the practice of giving these boxes as gifts or it could have been derived from the opening of alms boxes. These boxing were put in churches to get

The day is also known as  St. Stephen’s Day, after the first Christian martyr who was known for helping the poor, Almanac reported.

The evolution of Boxing Day

While the holiday had its roots in giving back to the poor, like many modern celebrations, it's shifted and become more associated with shopping and sports, according to Britannica.

The day is a day off in Britain and Canada. While boxes aren't typically given to the poor anymore, it's not unusual for service employees to get bonuses around this time of year, Britannica reported. The bonuses however typically come before Christmas.

Woman's Day reported that the day is a chance for people to spend time with family and friends, especially those who they may not have seen on Christmas.

It's typical for families to invite others over to enjoy a casual lunch made from Christmas Day leftovers.

The day after Christmas also means some are returning or exchanging some of their presents and searching for good shopping deals.

Just like how football has become a part of celebrating Thanksgiving in many American household, Boxing Day has its own sports traditions. Almanac reported that in recent years the sports of choice have been watching horse races and football matches between local rivals.