Those of us linked to sports betting regularly 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 it is a competition between individuals or between two different teams.

In fact, you’ll find records to show that as long as there have been matches between people, on any side, you can find people 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, remember, sports betting will be much more sophisticated than those ancient wagers. All around the world, bookmakers both small and big follow several unique 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 can bet that you’ll be able to find someone ready to take your wager.

It’s important to realize 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 setup their odds determined by very complex mathematical formulas, which help them to find out how they may 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. As a result, they have thought up ways to encourage people to bet on each side.

One of those ways is to offer higher payouts if your team receiving less bets win. Individuals who take the “underdogs” stand to win a great deal more money per dollar bet than those 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 cash.

The story of sports betting involves not simply book makers, but in addition the law. You are probably acquainted with the popular image of the bookie; a thug who takes money and will behave violently when not paid. In contrast, Ifc wrote there are several 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 total amount 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 to be able to receive money from a bookmaker. Laws such as the Professional and Amateur Sports Protection Act look to prevent this from taking place by prohibiting sports betting in certain cases and places.

Bear in mind, 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 so that you can put some money down on their 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 total amount of information available increases the probability of making good bets in a way which has never been seen before. Simply, the information also means that books are able to compensate, however the opportunities for making some serious money (at some risk) continue to be around.

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