Bascom has been honored as the "Father of Modern Rodeo" and known as "rodeo's greatest innovator and inventor." He is known in rodeo history for designing and making rodeo's modern bucking chute in 1916 and modified in 1919. He also made rodeo's first hornless bronc saddle in 1922 and rodeo's first one-hand bareback rigging in 1924, for which he has been called the "Father of the Modern-day Bareback Rigging" and the "Father of Rodeo Bareback Riding." In 1926, he designed and made the modern rodeo riding chaps, and then in 1928, a rodeo exerciser made of spring steel. Bascom has been recognized by rodeo associations around the world for his rodeo inventions.