Those of us involved with sports betting frequently probably understand that in truth, there was never really any “start” point when folks began betting on sports. It appears pretty natural to place some sort 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.

Actually, there are actually records to show that as long as there have been matches between people, on any side, there are folks 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 when they are watching a competition.

Today, keep in mind, sports betting will be much more sophisticated than those ancient wagers. All around the world, bookmakers both big or small follow several unique systems which permit them to make money off of people’s penchant for punting. Whether we are discussing professional or amateur leagues, you may bet that you’re going to 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 really is about the sport one is betting on. Bookies set up their odds based on very complex mathematical formulas, which enable 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 avoid losing their profit. Therefore, 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. Individuals who take the “underdogs” stand to win a whole lot more money per dollar bet than people 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 might be familiar with the popular image of the bookie; a thug who takes money and may behave violently when not paid. Conversely, there are numerous 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 amount 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 in order to receive money from a bookmaker. Laws such as the Professional and Amateur Sports Protection Act aim to prevent this from taking place by prohibiting sports betting in certain cases and places.

Remember, 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 learn online football. Bettors in North America no longer need to make the trip to Vegas as a way to put some money down on their own favorite team; instead, the ability to wager is just a click of the mouse away.

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

It’s safe to claim that betting on sports is a thing which has happened throughout human history, and a thing that shall happen as long as there are actually 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!