Those of us involved in sports betting frequently probably realize 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 or his response not it is a competition between individuals or between two different teams.

In fact, you’ll find records to show that as long as there have been matches between people, on any side, there are individuals 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, bear in mind, sports betting will be much more sophisticated than those ancient wagers. All over the world, bookmakers both big or small follow several unique systems which allow them to make money off of people’s penchant for punting. Whether we are speaking about professional or amateur leagues, you may bet that you will be able to find someone ready 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’s about the sport one is betting on. Bookies setup their odds based upon very complex mathematical formulas, which enable them to to ascertain 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, to avoid losing their profit. As a result, 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. Those who take the “underdogs” stand to win a lot additional money per dollar bet than men and women 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 money.

The story of sports betting involves not just book makers, but additionally 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. In contrast, 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 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 sort of payout. The history of most sports contains stories of players throwing games as a way to receive money from a bookmaker. Laws such as the Professional and Amateur Sports Protection Act seek to prevent this from taking place by prohibiting sports betting in certain cases and places.

As always, the next chapter within 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. Bettors in North America no longer need to make the trip to Vegas so that you can put some cash down on their 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 chances of making good bets in a way that has never been seen before. Remember, the information also means that books are able to compensate, although the opportunities for making some serious money (at some risk) are still available.

It’s safe to state that betting on sports is something which has happened throughout human history, and a thing that shall happen as long as you can find 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!