Gambling has been in existence since man evolved into a thinking sapient with a contentious propensity to calculate the future. Predicting the outcome of an event has been a constant urge to humanity, whether selectively or addictively. Some people, over the course of human evolution, have developed the art of predicting an outcome with a certain degree of accuracy through science and skill, while othersdo it as an art. Whichever way one chooses to pursue the determination of an outcome with sbowin, the urge to predict is an inalienable part of human existence, and it will continue to be so.
The fundamental human behavior to predict has given rise to a whole industry of sports betting. But first, let us be clear that betting or gambling has been happening since the age of the gladiators of Rome, the Pandavas of the Mahabaratha, so sbowin is not essentially new to this generation. It is thus imperative to view sports bettingwith anappropriate lens.
Genesis
Though sports and gambling have been inseparable since ages, it gained much traction and following in England during the 18th century when the Queen allowed wagers in horse racing. Queen Anne is famously credited with the modern form of horse racing with a proper racecourse. Hence, sports betting aficionados today could thank the Queen for her contribution to the sport and mainly for allowing wagers in sports. Gambling until this point was looked down upon and happened illegally in underground dens due to persecution by religious authorities.
Legal credibility for betting did not gain widespread acceptance until 1928 when Winston Churchill ensured the passing of the Race Betting Act in Britain.To ensure control of the illegitimate betting operations happening outside of racecourses. Sports bettingevolution didn’t stop there,rather it gained momentum and was popularized in most of the British ruled states, creating new markets for theindustry. Today the industry has grown to be a mammoth, and according to some sources, the market size has roughly reached USD 250 billion internationally. This estimate is only an approximation due to the fact that betting still happens through illegal channels and revenues from such sources go unnoticed and are unreported.
Highly sophisticated probabilistic techniques have evolved to make sports betting a profitable venture for many. While some still cling onto it with addictive gambling tendencies there are others who consider it as a profession and are adept in their dealings. To venture into this lucrative industry with odds and spreads sometimes too skewed that it could make the punters millionaires or paupers within a day, is a risky exercise. Nevertheless, it is this risk that draws people in the millions around the world year on year, as the industry continues to grow and reach ever newheights.