Sports Betting – History and Evolution

Sports Betting – History and Evolution

Ancient Greece is the origin of the recorded history of sports betting. The betting occurred in the Olympics, the world-renowned global sports festival, which is still one of the most popular events in the world. While this is what history tells us about the start of sports betting, it has to be said that betting is as old as the human love for entertainment and engagement. The spurt of adrenaline is enough to drive people towards this, while further addition of personal stake via betting makes it difficult to let go of such an exercise. Here is your complete guide to sports betting

Famous Sports that One Can Bet On

Football is considered one of the major sports in which sports betting is in both highest quantities and highest values. However, other professional competitions like, NHL, NCAAB, MLB, and NBA, are also taking up their fair share of sports betting. 

The rise in sports fanaticism in the contemporary world, alongside freedom from legal restrictions, has boosted sports betting never seen before in history. Two generations back, due to several religious and ethical reasons, the organization named the Professional and Amateur Sports Protection Act (PASPA) made sports betting illegal. However, a movement of acceptance and legalization of sports betting that started from New Jersey is gaining momentum.

Knowing the Jargon Associated with Sports Betting

To understand sports betting, like anything else, we have to first understand its jargon. Starting with Action, which simply means starting a bet. Push refers to a rare situation where the team, that was bet on, won by the exact points in the Spread. Spread refers to the number of points, either by which a team must win or by which the team must not lose. Unit is the measure of the amount of bet that is placed, which is one per cent of the total bankroll, while Handle is the total amount of bet. Pick em is the situation where both teams end up equal, and none of them is favourite or an underdog. Juice or Vig is the amount of percentage the Handler takes from the whole bet.

Money Line Betting

There is also a variety of types of sports bets that can be placed. They all have their own advantages and disadvantages, which one must learn before diving into sports betting. 

The most famous type is money line sports betting which is usually used in low-value bets often placed in sports like hockey. Though it has its own set of complexities, the money line bet is basically when you place a bet on a team’s victory or loss. Money line betting is done both officially and unofficially in large numbers due to its ease.

Conclusion

Sports betting is regaining its old momentum after a brief ethical restraint. It is going to the same level it had in Ancient Greece during the Olympics. Due to advancements in communications, placing bets has become much easier and fraud-proof. Online betting has evolved in recent years, further making it easier for bettors to place bets on their favorite sports without any hassle. 



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