The Ladies' Putting Club in St. Andrews, Scotland is considered the very first miniature golf course. It was built in 1867 for practical purposes as it was considered unacceptable for women to take the club back past their shoulder during this time period.
There were stories of 12-year-old boys, during the Great Depression, that for an initial investment of 90 cents would set up a miniature golf course in a vacant lot and turn a 1000% profit over the weekend.
http://www.suburbanfoodforthought.com/2008/08/history-of-miniature-golf-in-10-fun.html
From the Upcoming ueue, submitted by stevesteve8383.