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Those of us involved with sports betting regularly probably understand that in truth, there was never really any "start" point when people 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.
In reality, you can find records to show that as long as there have been 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, keep in mind, sports betting is a lot more sophisticated than those ancient wagers. All around the world, bookmakers both small and big follow a number of different systems which permit them to make money off of people's penchant for punting. Whether we have been speaking about professional or amateur leagues, you may bet that you'll be able to find someone willing to take your wager.
It is important to realize 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 setup their odds determined by very complex mathematical formulas, which help them to to find out how also they can make a profit off of people's bets. They don't want too much "action" (money wagered) on one side or another, to prevent 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 when the team receiving less bets win. People who take the "underdogs" stand to win a whole lot more money per dollar bet than men and women who 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 money.
The story of sports betting involves not simply book makers, but in addition the law. You might be experienced with the popular image of the bookie; a thug who takes money and may behave violently when not paid. However, 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 also 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 to be able to receive money from a bookmaker. Laws such as the Professional and Amateur Sports Protection Act attempt to prevent this from occurring by prohibiting sports betting in certain cases and places.
As always, 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 money down on their favorite team; instead, the capability to wager is simply a click of the mouse click the following web page away.
Not only tend to be more people able to wager on sports through the Internet, the total amount of information available increases the chances of making good bets in a way that has never been seen before. Of course, the information also means that books will be able to compensate, however the opportunities for making some serious money (at some risk) remain available.
It's safe to state that betting on sports is one thing that has happened throughout human history, and a thing that shall happen as long as you'll find 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!
