Those of us involved with sports betting on a regular basis probably understand 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 is a contest between two different sides, whether or not it is a competition between individuals or between two different teams.

In reality, you will discover records to show that as long as there happen to be matches between people, on any side, you will discover 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 is a lot more sophisticated than those ancient wagers. All around the world, bookmakers both small and big follow several unique systems which allow them to earn money off of people’s penchant for punting. Whether we are discussing 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 will be as much about these “middle men” than it is about the sport one is betting on. Bookies setup their odds based upon very complex mathematical formulas, which help them to determine how they may 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. Because of this, 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. Individuals who take the “underdogs” stand to win a whole lot more money per dollar bet than people 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 money.

The story of sports betting involves not only book makers, but also the law. You may be familiar with the popular image of the bookie; a thug who takes money and may behave violently when not paid. On the flip side, 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 can also be highly regulated. Governments, and sports bodies as well, desire to protect the honest competitive nature of sports. With the sheer amount 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 sort of payout. The history of most sports contains stories of players throwing games so that you can receive money from a bookmaker. Laws for example the Professional and Amateur Sports Protection Act seek to prevent this from occurring by prohibiting sports betting in certain cases and places.

Remember, the next chapter within 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 money down on their own favorite team; instead, the ability to wager is just a click of the mouse away.

Not only are more people able to wager on sports over the Internet, the total amount of information available increases the probability of making good bets in a way that has never been seen before. As always, the information also means that books will be able to compensate, however the opportunities for making some serious money (at some risk) continue to be out there.

It’s safe to say that betting on sports is one area that has happened throughout human history, and an element that shall happen as long as you’ll find competitions between people. Today, the similar web site has taken the story of sports betting to the next level; the end of that chapter has yet to be written!