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

In reality, you’ll find records to show that as long as there have been matches between people, on any side, there are actually 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, as always, sports betting is a lot more sophisticated than those ancient wagers. All around the world, bookmakers both big or small follow a number of different systems which permit them to earn money off of people’s penchant for punting. Whether we are speaking about professional or amateur leagues, you can bet that you’re going to be able to find someone willing to take your wager.

It is important to understand that the story of sports betting is just as much about these “middle men” than it is about the sport one is betting on. Bookies set up their odds based upon very complex mathematical formulas, which help them to ascertain how also they can make a profit off of people’s bets. They don’t want too much “action” (money wagered) on one side or another, to prevent 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 when the team receiving less bets win. Individuals that take the “underdogs” stand to win a whole lot more money per dollar bet than individuals who take the favorites.

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

The story of sports betting involves not simply book makers, but additionally the law. You may be 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 additionally 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 can be tempting for players to forget about competition in favor of a bribe or other sort 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 happening by prohibiting sports betting in certain cases and places.

Keep in mind, 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 so that you can put some money down on their own favorite team; instead, visit our website the ability to wager will be 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 probability of making good bets in a way that has never been seen before. Bear in mind, the information also means that books are able to compensate, though the opportunities for making some serious money (at some risk) are still available.

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