Those of us involved with sports betting on a regular basis probably recognize 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's a contest between two different sides, whether it is a competition between individuals or homepage between two different teams.
In fact, there are actually records to show that as long as there happen to be matches between people, on any side, there are actually 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 when they are watching a competition.
Today, keep in mind, sports betting is significantly more sophisticated than those ancient wagers. All around the world, bookmakers both big or small follow several unique systems which allow them to earn money off of people's penchant for punting. Whether we have been talking about professional or amateur leagues, you may bet that you will be able to find someone willing to take your wager.
It is critical 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 setup their odds based upon very complex mathematical formulas, which help them to to determine how 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. For this reason, 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. Individuals who take the "underdogs" stand to win a great deal more money per dollar bet than folks that 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 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 will behave violently when not paid. On the flip side, there are various 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 also, 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 to be able to receive money from a bookmaker. Laws for example the Professional and Amateur Sports Protection Act attempt to prevent this from happening by prohibiting sports betting in certain cases and places.
Remember, 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 so that you can put some money down on their own favorite team; instead, the capability to wager is just a click of the mouse away.
Not simply are more people able to wager on sports over the Internet, the total amount of information available increases the chances of making good bets in a way which has never been seen before. Of course, the information also means that books will be able to compensate, although the opportunities for making some serious money (at some risk) remain available.
It's safe to state that betting on sports is something that has happened throughout human history, and an element 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!
In fact, there are actually records to show that as long as there happen to be matches between people, on any side, there are actually 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 when they are watching a competition.
Today, keep in mind, sports betting is significantly more sophisticated than those ancient wagers. All around the world, bookmakers both big or small follow several unique systems which allow them to earn money off of people's penchant for punting. Whether we have been talking about professional or amateur leagues, you may bet that you will be able to find someone willing to take your wager.
It is critical 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 setup their odds based upon very complex mathematical formulas, which help them to to determine how 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. For this reason, 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. Individuals who take the "underdogs" stand to win a great deal more money per dollar bet than folks that 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 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 will behave violently when not paid. On the flip side, there are various 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 also, 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 to be able to receive money from a bookmaker. Laws for example the Professional and Amateur Sports Protection Act attempt to prevent this from happening by prohibiting sports betting in certain cases and places.
Remember, 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 so that you can put some money down on their own favorite team; instead, the capability to wager is just a click of the mouse away.
Not simply are more people able to wager on sports over the Internet, the total amount of information available increases the chances of making good bets in a way which has never been seen before. Of course, the information also means that books will be able to compensate, although the opportunities for making some serious money (at some risk) remain available.
It's safe to state that betting on sports is something that has happened throughout human history, and an element 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!