History of sports betting


History of sports betting

Sports betting is the most common type of gambling entertainment. Experts claim that bets now occupy almost 40% of the total gambling market. Every second inhabitant who has reached the age of majority at least once in his life has already been able to bet online on sports. This is also stated in the joycasino reviews.

When did the first bets appear?
People have been betting with each other since ancient times. It is not surprising, because betting fuels interest and determines the winner. Inhabitants of Ancient Greece made bets on the Olympic Games, and in Ancient Rome, many bet on gladiators. Earlier there were no bookmakers’ offices, so the betting was done directly.

According to available information, bookmaking appeared in Great Britain. Betting on horse races for the first time began in 1790. The founder of the primitive bookmaker’s office was William Ogden.

The modern bookmaker’s office appeared only in 1850. Its founders offered to bet on sporting events. Forecasts were printed on leaflets and distributed all over London. More information: https://rating-casinos.com/top-online-palermo-casinos/.

On the territory of America, France and Russia the first BKs appeared only 30 years later. Legislation in many countries forbade betting. In Europe and the United States, such activities remained illegal until the middle of the 20th century. Immediately after the legalization of this business in Great Britain more than 10 thousand betting shops of various scales were opened within 6 months.

Every year companies added new types of betting. Among the most common are the following types of contests:

Most experts agree that the real revolution in this industry came in 1990. During this period, some companies began to accept bets over the Internet. 10 years later, the volume of the sports betting market exceeded 2 billion dollars.

Interesting facts from the world of betting
During the period of operation of bookmaker offices there were many ridiculous and interesting situations:

The biggest win. In 1995, a woman decided to bet 5 pence on a horse race. The odds on the winners in this case was 3,072,887. The bet played out and the winner received £210,000. The payment was made by Ladbrokes.
The most ridiculous bet. William Hill offered its customers a bet with odds of 1 to 14 million. The essence of the bet was that Elvis Presley would fly a UFO into Loch Ness Lake and kill the monster.
Human Factor. Cliff Bryant bet on the weather in 13 different cities. As a result, he won 7.1 million pounds. However, the representatives of the office refused to pay the winnings, because according to the established rules it is impossible to make express bets on the weather.
The main difference between betting and gambling
Experts say that betting is a kind of gambling. Gambling in turn includes all gambling in general. Visitors to bookmaker offices have the opportunity to bet on various events. Now you can bet not only on the results of sports matches, but also on the following events:

changes in the exchange rate of cryptocurrencies;
The weather on a particular day;
Gambling is prohibited in many countries. However gambling more often acts as an exception and is completely legal kind of activity. It is expensive to get authorization documents in some countries, that is why the owners of betting companies get licenses from Curacao. Bookmakers with a license from offshore zones face more favorable tax conditions, so they offer players a wide range of bonuses and optimal odds.

The Real Realities of Betting
It is almost impossible to calculate the total capitalization of the market. The main problem is that there are many illegal offices on the market now. According to the information published by Zion Market Research the global market volume is in the range of 104 billion dollars. This figure is constantly increasing, as the number of customers who want to guess the outcome of a match increases.

After the advent of smartphones, many companies began to develop special applications that allow betting from outside the home. This year, the share of bets made with the help of a phone should make up about 40% of the total volume. The rapid popularity is primarily due to the convenience.

In many countries, the activities of betting shops are legal so companies can get the required license. However, most of the BC owners prefer the license issued by offshore zones. This is primarily due to the low cost of permits.

The future of the betting world – rapid development and improvement
Experts argue that after the transition to online mode, the work of many bookmakers has become more transparent. However, players often complain that bookmakers refuse to pay winnings. Bookmakers, in turn, report software failures or suspicious activity in the profile. On this basis, it is necessary to build more transparent models.

In the near future betting may switch to blockchain technology. Such technology will make the activity more transparent as all transactions can be traced quickly in the future. Many magazines write that in the near future the following areas will actively develop:

virtual reality.
Thanks to blockchain technology, all bets will be entered into a special register. Accordingly, it will be impossible to change the results. According to experts, blockchain completely eliminates the human factor and third-party interference in the processing of bets made. Bookmaker’s offices, which will use the blockchain technology, will be able to provide their customers with new opportunities, which did not exist before.

Cyber sports have begun to actively spread. Specialists believe that this is a popular discipline, which in the near future could become the Olympic. Now the volume of cybersports market is about $ 900 million. Broadcasts watched by millions of users around the world.

Bookmakers have already included championships in several popular games. Looking through the list bettors will find the following games:

The popularity of tournaments is constantly increasing, which affects the increase in bets on such events. Some companies are trying to add spice sensations so provide virtual reality. The unique technology Get In The Race created the effect of presence at horse races, which caused a real excitement among many users.

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