Those of us linked to sports betting on a regular basis 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 kind of wager whenever there's a contest between two different sides, whether it is a competition between individuals or between two different teams.
Actually, you will discover records to show that as long as there have been matches between people, on any side, you'll find people 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, simply, sports betting is much more sophisticated than those ancient wagers. All over the world, bookmakers both big or small follow a number of different systems which allow them to make money off of people's penchant for punting. Whether we have been talking about professional or amateur leagues, you can bet that you're going to be able to find someone ready to take your wager.
It is important to recognize that the story of sports betting is simply as much about these "middle men" than it really is about the sport one is betting on. Bookies set up their odds based on very complex mathematical formulas, which enable them to to determine how they can 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 when the team receiving less bets win. Men and women who take the "underdogs" stand to win a lot additional money per dollar bet than folks who 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 money.
The story of sports betting involves not simply book makers, but also the law. You are likely familiar with the popular image of the bookie; a thug who takes money and will behave violently when not paid. On the contrary, there are many 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 can also be 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 other type of payout. The history of most sports contains stories of players throwing games to be able to receive money from a bookmaker. Laws for example the Professional and Amateur Sports Protection Act aim to prevent this from happening by prohibiting sports betting in certain cases and places.
Simply, the next chapter in the story of sports betting may make such efforts moot. Today, sports books are among those businesses which have capitalized on the opportunities available online. Bettors in North America no longer need to make the trip to Vegas as a way to put some cash down on their favorite team; instead, the ability to wager is just a click of the mouse away.
Not only tend to be more people able to wager on sports over the Internet, the amount of information available increases the chances of making good bets in a way which has never been seen before. Keep in mind, the information also implies that books will be able to compensate, though the opportunities for making some serious money (at some risk) continue to be available.
It's safe quality football to state that betting on sports is something that has happened throughout human history, and an issue that will 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!
Actually, you will discover records to show that as long as there have been matches between people, on any side, you'll find people 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, simply, sports betting is much more sophisticated than those ancient wagers. All over the world, bookmakers both big or small follow a number of different systems which allow them to make money off of people's penchant for punting. Whether we have been talking about professional or amateur leagues, you can bet that you're going to be able to find someone ready to take your wager.
It is important to recognize that the story of sports betting is simply as much about these "middle men" than it really is about the sport one is betting on. Bookies set up their odds based on very complex mathematical formulas, which enable them to to determine how they can 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 when the team receiving less bets win. Men and women who take the "underdogs" stand to win a lot additional money per dollar bet than folks who 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 money.
The story of sports betting involves not simply book makers, but also the law. You are likely familiar with the popular image of the bookie; a thug who takes money and will behave violently when not paid. On the contrary, there are many 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 can also be 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 other type of payout. The history of most sports contains stories of players throwing games to be able to receive money from a bookmaker. Laws for example the Professional and Amateur Sports Protection Act aim to prevent this from happening by prohibiting sports betting in certain cases and places.
Simply, the next chapter in the story of sports betting may make such efforts moot. Today, sports books are among those businesses which have capitalized on the opportunities available online. Bettors in North America no longer need to make the trip to Vegas as a way to put some cash down on their favorite team; instead, the ability to wager is just a click of the mouse away.
Not only tend to be more people able to wager on sports over the Internet, the amount of information available increases the chances of making good bets in a way which has never been seen before. Keep in mind, the information also implies that books will be able to compensate, though the opportunities for making some serious money (at some risk) continue to be available.
It's safe quality football to state that betting on sports is something that has happened throughout human history, and an issue that will 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!