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To be able to understand how online sports betting works, it is important to first acquaint ourselves with the basic ‘sports betting’ concept. Turns out that the sports betting concept is really not difficult to understand, as it involves trying to predict which teams, or players (or animals, in the event that of animal sports like horse racing) is very likely to win any given event, and then putting some money against that prediction alongside another person (or possibly a range of others) with the opposite prediction, so that within the event of your prediction coming true, you get to pocket what your opponents had put down – when it comes to money – against their bets; with the opposite happening within the event of your prediction turning out to be wrong, where it is you who might have to pay the individual (or people) you were betting against the amounts you had bet for in the event that their prediction turns out to be the true one.
Sports betting is not a new undertaking. Indeed you can find recorded instances in history going very far back of men and women betting away huge fortunes in certain sports. In more recent times, however, sports betting came to be so widespread and prolific that a business was born of it, the business in question here being the bookmaking business, which tries to ‘spread the risk’ in sports betting which without the intervention of the bookmaker, could be a really risky undertaking indeed as people here bet against events over which they have absolutely no control (unless they engage in ‘game fixing’ which is recognized as immoral).
As with any facets of human life, sports betting has been significantly influenced by the ‘Internet revolution’ that has occurred over the last two decades or so – which is out of this, precisely, that online sports betting was borne.
At its core, online sports-betting is a result of ingenious leveraging of traditional sports-betting, bookmaking and also the tools of technology which make it possible for individuals partaking in it to bet on events taking part all over the world.
Because of the bookmaking element on it, online sports-betting is normally one of ‘spread out risks’ rather than the traditional ‘winner takes it all’ sort – to ensure that odds of the various teams, players or animals one is betting on winning a particular sporting event are worked out, then priced (as in, numerous dollars per odd) in order that ultimately, you find yourself betting for or against ‘so many ‘odds-points’ of a particular team, player or animal winning. This way, it’s still possible for the team, player or animal you bet on to lose the event, and also you still get to earn something out of your ‘wrong prediction.’ Put yet another way, this is about betting for or against each (calculated) odd of the team, player or animal winning, rather than betting for or against the whole possibility of the team player or animal winning – which may be a rather risky ‘winner takes all’ scenario.
Online sports-betting has received a big push from the fact that sports betting itself is illegal in several parts of the world (for example, in many states of America), so that it really is only by going excellent online football that sports-betting enthusiasts in those parts of the world might get to indulge in this activity. It is, on the contrary, also worthy noting that several of the internet sports betting sites may not allow participants from the parts of the world where sports betting is illegal to be their members; out of a fear for legal reprisals, hence the restrictions they tend to put on members, though cunning people usually find ways of circumventing these.
