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Those of us linked to sports betting regularly probably realize that in truth, there was never really any “start” point when folks began betting on sports. It appears pretty natural to place some kind of wager whenever there is a contest between two different sides, whether it is a competition between individuals or between two different teams.
The truth is, you will discover records to show that as long as there have been matches between people, on any side, you can find individuals that want to add some excitement to the competition through wagering. From the gladiatorial contests in ancient Rome to foot races on North America’s Great Plains, all cultures have put bets involving money or goods once they are watching a competition.
Today, keep in mind, sports betting is much more sophisticated than those ancient wagers. All over the world, bookmakers both big and small follow several unique systems which allow them to earn money off of people’s penchant for punting. Whether we are talking about professional or amateur leagues, you can bet that you’ll be able to find someone willing to take your wager.
It’s important to realize that the story of sports betting will be as much about these “middle men” than it’s about the sport one is betting on. Bookies set up their odds based upon very complex mathematical formulas, which enable them to to determine how they may make money off of people’s bets. They don’t want too much “action” (money wagered) on one side or another, in order to avoid losing their profit. Consequently, they have thought up ways to encourage people to bet on each side.
One of those ways is to offer higher payouts if your team receiving less bets win. People who take the “underdogs” stand to win a lot extra money per dollar bet than those that take the favorites.
Similarly, the point spread is used to encourage betting on both sides associated with any given match. Both methods allow the sports books to come out of each match with some cash.
The story of sports betting involves not only book makers, but in addition the law. You are likely experienced with the popular image of the bookie; a thug who takes money and will behave violently when not paid. On the other hand, there are several legal, above board sports books today who are legally sanctioned to take sports bets. In North America, all of these books run out of Las Vegas.
In other areas of the world, sports betting is legal but is additionally highly regulated. Governments, and sports bodies as well, desire to protect the honest competitive nature of sports. With the sheer sum of cash being bet on the outcome of games, it can be tempting for players to forget about competition in favor of a bribe or other sort of payout. The history of most sports contains stories of players throwing games so that you can receive money from a bookmaker. Laws such as the Professional and Amateur Sports Protection Act look to prevent this from taking place by prohibiting sports betting in certain cases and places.
Of course, the next chapter within the story of sports betting may make such efforts moot. Today, sports books are among those businesses that have capitalized on the opportunities available online. Bettors in North America no longer need to make the trip to Vegas so that you can put some cash down on their favorite team; instead, the ability to wager is just a click of the mouse away.
Not only will be more people able to wager on sports over the Internet, the amount of information available increases the probability of making good bets in a way that has never been seen before. Bear in mind, official Gravatar blog the information also means that books are able to compensate, but the opportunities for making some serious money (at some risk) are nevertheless around.
It’s safe to state that betting on sports is something that has happened throughout human history, and a thing that will happen as long as there are competitions between people. Today, the net has taken the story of sports betting to the next level; the end of that chapter has yet to be written!
