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The first belted rifle cartridge case is attributed to Holland&Holland when they introduced their .400/.375H&H in 1905. This was followed by a number of other calibers on the full length 2.85" .375 H&H case or on shorter versions. The .300H&H, .240H&H and .244H&H, .26 Rimless NE, .275 H&H, .33 Belted Rimless NE are British designs. The 7x73 Vom Hofe and the 7x61mm Sharpe&Hart are other examples of European belted cartridges. The popular Remington and Winchester belted magnums were based on the .375 H&H case as were the .270 to .375 Weatherby cartridges. The .224, and .240 WBY also have belts. The .300/.378, .338/.378, .416 and .460 WBYs are based on the Rigby .416 case with a belt added. None of these cartridges require a belt to headspace properly.The belted case was perceived as higher performance and used for marketing purposes.
So why a belt? Originally in the 1900s smokeless powder was available in long strands called Cordite.
The .375H&H had a gently sloped neck to allow smooth feeding and for loading Cordite. A belt was added to allow for consistent headspace. When Winchester introduced its .264,.300,.338 Win Mags modern powders and the greater shoulders due to smaller bores in these large diameter cases did not require a belt but, since the .375 case was used as a basis for these new rounds, the belt remained. The .458 Win mag ,as all strait wall rimless cases, requires a belt to provide proper headspace.
The new breed of high performance rounds, .333 Lapua, RUMs, Dakotas, .375 and .416 Ruger do not have or need belts. No belt can result in smoother feeding and less wasted space in the magazine but the differences are minor.

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