Brodie Goebel asked 4 months ago
Those of us involved in sports betting frequently probably realize that in truth, there was never really any “start” point when people began betting on sports. It seems pretty natural to place some sort of wager whenever there’s a contest between two different sides, whether it is a competition between individuals or between two different teams.
In fact, you will discover records to show that as long as there happen to be matches between people, on any side, there are actually men and women who 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, simply, sports betting is significantly more sophisticated than those ancient wagers. All over the world, bookmakers both big and small follow many different systems which allow them to earn money off of people’s penchant for punting. Whether we have been discussing professional or amateur leagues, you may bet that you’re going to be able to find someone prepared to take your wager.
You need to understand that the story of sports betting will be as much about these “middle men” than it is about the sport one is betting on. Bookies setup their odds based on very complex mathematical formulas, which enable them to to find out how also they can generate a profit off of people’s bets. They do not want too much “action” (money wagered) on one side or another, to prevent losing their profit. Because of this, they have thought up ways to encourage people to bet on each side.
One of those ways is to offer higher payouts if the team receiving less bets win. Folks who take the “underdogs” stand to win a lot more income per dollar bet than individuals that take the favorites.
Similarly, the point spread is used to encourage betting on both sides associated with any given match. Both methods enable the sports books to come out of each match with some cash.
The story of sports betting involves not only book makers, but also the law. You are probably familiar with the popular image of the bookie; a thug who takes money and can behave violently when not paid. On the other hand, there are plenty of 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 also highly regulated. Governments, and sports bodies as well, desire to protect the honest competitive nature of sports. With the sheer amount of money being bet on the outcome of games, it can be tempting for players to forget about competition in favor of a bribe or other type of payout. The history of most sports contains stories of players throwing games as a way to receive money from a bookmaker. Laws for example the Professional and Amateur Sports Protection Act seek to prevent this from happening by prohibiting sports betting in certain cases and places.
Keep in mind, 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 trusted online gambling agency. Bettors in North America no longer need to make the trip to Vegas in order to put some cash down on their own favorite team; instead, the capability 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 prospects of making good bets in a way that has never been seen before. Keep in mind, the information also means that books are able to compensate, although the opportunities for making some serious money (at some risk) are nevertheless out there.
It’s safe to claim that betting on sports is a thing that has happened throughout human history, and an element that shall happen as long as you can find competitions between people. Today, the web has taken the story of sports betting to the next level; the end of that chapter has yet to be written!