Those of us associated with sports betting on a regular basis probably understand that in truth, there was never really any “start” point when people began betting on sports. It seems 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.

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

Today, as always, sports betting is much more sophisticated than those ancient wagers. All around the world, bookmakers both small or large follow several 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 may bet that you’re going to be able to find someone ready to take your wager.

It’s 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 upon very complex mathematical formulas, which help them to find out how they can 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. Consequently, they have thought up ways to encourage people to bet on each side.

One of those ways is to offer higher payouts if the team receiving less bets win. Those that take the “underdogs” stand to win a whole lot extra money per dollar bet than those that take the favorites.

Similarly, the point spread is used to encourage betting on both sides of 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 in addition the law. You are likely familiar with the popular image of the bookie; a thug who takes money and can behave violently when not paid. On the flip side, there are many 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 also, 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 for example the Professional and Amateur Sports Protection Act attempt to prevent this from occurring by prohibiting sports betting in certain cases and places.

Simply, the next chapter in the story of sports betting may make such efforts moot. Today, sports books are among those businesses which have capitalized on the opportunities available playing online gambling. 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 capability to wager will be a click of the mouse away.

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

It’s safe to state that betting on sports is one area that has happened throughout human history, and a thing that shall happen as long as there are actually competitions between people. Today, the net has taken the story of sports betting to the next level; the end of that chapter has yet to be written!