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Those of us involved with sports betting on a regular basis probably realize that in truth, there was never really any "start" point when individuals began betting on sports. It seems pretty natural to place some kind of wager whenever there is a contest between two different sides, whether or not it is a competition between individuals or between two different teams.
In reality, you can find records to show that as long as there happen to be matches between people, on any side, you will discover those 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, remember, sports betting is a lot more sophisticated than those ancient wagers. All around the world, bookmakers both small and official website big follow several different systems which permit them to earn money off of people's penchant for punting. Whether we are talking about professional or amateur leagues, you may bet that you're going to be able to find someone ready to take your wager.
It's important to recognize that the story of sports betting will be 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 help them to to find out how they may generate a profit 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. So, 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. Individuals who take the "underdogs" stand to win a lot additional 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 enable the sports books to come out of each match with some cash.
The story of sports betting involves not just book makers, but also the law. You are likely knowledgeable about the popular image of the bookie; a thug who takes money and can behave violently when not paid. On the flip side, 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 amount 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 type of payout. The history of most sports contains stories of players throwing games in order to receive money from a bookmaker. Laws for example the Professional and Amateur Sports Protection Act look 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 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 own favorite team; instead, the ability to wager is simply a click of the mouse away.
Not only are more people able to wager on sports through the Internet, the amount of information available increases the probability of making good bets in a way which has never been seen before. Simply, the information also implies that books will be able to compensate, but the opportunities for making some serious money (at some risk) are still out there.
It's safe to state that betting on sports is one thing that has happened throughout human history, and something that will happen as long as you will discover 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!