Those of us involved in 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 between two different teams.

In fact, there are actually records to show that as long as there are already matches between people, on any side, you can find 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 once they are watching a competition.

Today, bear in mind, sports betting is a lot more sophisticated than those ancient wagers. All over the world, bookmakers both small or large follow several different systems which allow them to earn money off of people’s penchant for punting. Whether we have been speaking about professional or amateur leagues, you may bet that you’re going to be able to find someone willing 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 is about the sport one is betting on. Bookies set up their odds based on very complex mathematical formulas, which help them to to find out how also they can make a profit off of people’s bets. They do not want too much “action” (money wagered) on one side or another, in order to avoid 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 should the team receiving less bets win. Folks who take the “underdogs” stand to win a lot more money per dollar bet than people who take the favorites.

Similarly, the point spread is used to encourage betting on both sides of the given match. Both methods enable the sports books to come out of each match with some cash.

The story of sports betting involves not just book makers, but additionally the law. You’re probably knowledgeable about the popular image of the bookie; a thug who takes money and also will behave violently when not paid. On the flip side, there are plenty 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 can also be 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 any other type of payout. The history of most sports contains stories of players throwing games in order to receive money from a bookmaker. Laws such as the Professional and Amateur Sports Protection Act seek 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 that have capitalized on the opportunities available online football. Bettors in North America no longer need to make the trip to Vegas so that you can put some cash down on their own favorite team; instead, the ability to wager is simply a click of the mouse away.

Not simply tend to 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. Remember, the information also implies that books will be able to compensate, though the opportunities for making some serious money (at some risk) will still be available.

It’s safe to say that betting on sports is one area which has happened throughout human history, and a thing that shall happen as long as you will discover 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!