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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 seems pretty natural to place some sort of wager whenever there is a contest between two different sides, whether it is a competition between individuals or between two different teams.
In fact, there are records to show that as long as there have been matches between people, on any side, there are actually folks 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 when they are watching a competition.
Today, remember, 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 make money off of people's penchant for punting. Whether we are speaking about professional or amateur leagues, you may bet that you will 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 is about the sport one is betting on. Bookies setup their odds determined by very complex mathematical formulas, which enable them to to ascertain how they can make 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 when the team receiving less bets win. Men and women who take the "underdogs" stand to win a lot more income per dollar bet than people that take the favorites.
Similarly, the point spread is used to encourage betting on both sides of any given match. Both methods permit the sports books to come out of each match with some money.
The story of sports betting involves not simply book makers, but additionally the law. You might be experienced with the popular image of the bookie; a thug who takes money and can behave violently when not paid. On the contrary, there are numerous 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 money being bet on the outcome of games, it may be tempting for players to forget about competition in favor of a bribe or any other type of payout. The history of most sports contains stories of players throwing games in order to receive money from a bookmaker. Laws such as the Professional and Amateur Sports Protection Act attempt to prevent this from taking place by prohibiting sports betting in certain cases and places.
Simply, 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 gambling agent. Bettors in North America no longer need to make the trip to Vegas as a way to put some money down on their favorite team; instead, the ability to wager will be a click of the mouse away.
Not just tend to be more people able to wager on sports through the Internet, the total amount of information available increases the prospects of making good bets in a way which has never been seen before. Simply, the information also implies that books are able to compensate, though the opportunities for making some serious money (at some risk) are still out there.
It's safe to claim that betting on sports is a thing which has happened throughout human history, and a thing that will happen as long as you'll find competitions between people. Today, the internet has taken the story of sports betting to the next level; the end of that chapter has yet to be written!
