Those of us associated with sports betting regularly probably realize that in truth, there was never really any “start” point when folks began betting on sports. It appears pretty natural to place some kind of wager whenever there’s a contest between two different sides, whether or not it is a competition between individuals or between two different teams.

The truth is, there are records to show that as long as there have been matches between people, on any side, you can find men and women who 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, as always, sports betting is significantly more sophisticated than those ancient wagers. All around the world, bookmakers both big and small follow a number of different 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 can bet that you’ll be able to find someone willing to take your wager.

It is important to understand 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 according to very complex mathematical formulas, which help them to to ascertain 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, to avoid losing their profit. As such, they have thought up ways to encourage people to bet on each side.

One of those ways is to offer higher payouts should the team receiving less bets win. Those that take the “underdogs” stand to win a great deal more money per dollar bet than individuals 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 money.

The story of sports betting involves not simply book makers, but in addition the law. You are likely experienced with the popular image of the bookie; a thug who takes money and will behave violently when not paid. On the contrary, 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 also 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 any other type of payout. The history of most sports contains stories of players throwing games as a way to receive money from a bookmaker. Laws for example the Professional and Amateur Sports Protection Act aim to prevent read this post here from occurring by prohibiting sports betting in certain cases and places.

As always, the next chapter within the story of sports betting may make such efforts moot. Today, sports books are among those businesses that 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 will be a click of the mouse away.

Not just are more people able to wager on sports over the Internet, the total amount of information available increases the prospects of making good bets in a way that has never been seen before. Remember, the information also implies that books will be able to compensate, although the opportunities for making some serious money (at some risk) will still be out there.

It’s safe to claim that betting on sports is something which has happened throughout human history, and an element 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!