Those of us associated 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.
The truth is, you can find records to show that as long as there have been matches between people, on any side, there are actually individuals 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, of course, sports betting is much more sophisticated than those ancient wagers. All over the world, bookmakers both big and small follow several different systems which permit them to make money off of people's penchant for punting. Whether we are talking about professional or amateur leagues, you may bet that you will 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's about the sport one is betting on. Bookies set up their odds based on very complex mathematical formulas, which help them to ascertain how they can make money off of people's bets. They do not 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 in the event the team receiving less bets win. People that take the "underdogs" stand to win a lot additional money per dollar bet than men and women who take the favorites.
Similarly, the point spread is used to encourage betting on both sides of 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 in addition the law. You might be experienced with the popular image of the bookie; a thug who takes money and also will behave violently when not paid. However, there are lots of 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 cash being bet on the outcome of games, it may 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 as a way to receive money from a bookmaker. Laws such as the Professional and Amateur Sports Protection Act seek to prevent visit this hyperlink from occurring by prohibiting sports betting in certain cases and places.
Keep in mind, 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 in order to put some cash down on their favorite team; instead, the ability to wager is just a click of the mouse away.
Not only will be more people able to wager on sports through the Internet, the amount of information available increases the prospects of making good bets in a way that has never been seen before. Simply, the information also implies that books are able to compensate, however the opportunities for making some serious money (at some risk) will still be around.
It's safe to state that betting on sports is one area which has happened throughout human history, and an issue that shall happen as long as you will discover 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!
The truth is, you can find records to show that as long as there have been matches between people, on any side, there are actually individuals 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, of course, sports betting is much more sophisticated than those ancient wagers. All over the world, bookmakers both big and small follow several different systems which permit them to make money off of people's penchant for punting. Whether we are talking about professional or amateur leagues, you may bet that you will 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's about the sport one is betting on. Bookies set up their odds based on very complex mathematical formulas, which help them to ascertain how they can make money off of people's bets. They do not 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 in the event the team receiving less bets win. People that take the "underdogs" stand to win a lot additional money per dollar bet than men and women who take the favorites.
Similarly, the point spread is used to encourage betting on both sides of 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 in addition the law. You might be experienced with the popular image of the bookie; a thug who takes money and also will behave violently when not paid. However, there are lots of 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 cash being bet on the outcome of games, it may 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 as a way to receive money from a bookmaker. Laws such as the Professional and Amateur Sports Protection Act seek to prevent visit this hyperlink from occurring by prohibiting sports betting in certain cases and places.
Keep in mind, 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 in order to put some cash down on their favorite team; instead, the ability to wager is just a click of the mouse away.
Not only will be more people able to wager on sports through the Internet, the amount of information available increases the prospects of making good bets in a way that has never been seen before. Simply, the information also implies that books are able to compensate, however the opportunities for making some serious money (at some risk) will still be around.
It's safe to state that betting on sports is one area which has happened throughout human history, and an issue that shall happen as long as you will discover 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!