It is not easy to determine when sports betting began; it has been thousands of years since people began placing bets on sports match outcomes. Throughout history, sports betting has been an essential part of the gambling industry. Even these days, people are getting more interested in sports betting with various types of sports and many betting choices. Click here to find the best sportsbooks online.
Over the years, people had always enjoyed placing wagers on match results, starting with the ancient Romans. The latter used to bet on wrestling and chariot racing, to the 18th century, when people had fun placing their bets on horse racing. However, everything is still the same; only the methods have improved.
The Legal History Of Online Sports Betting
Sports betting wasn’t permitted initially; people used to place their bets through sports bookers. At some point, those bookers were not falling under any regulation, and their work didn’t comply with taxation laws. Over time, governments decided to create rules to legalize and organize those activities, so they could control the cash flow from gambling money transactions and include it in taxation systems.
The main reason for not accepting this activity in some countries is they think sports betting is not a game based on skills; it is random and all about luck. Another reason is that governments are facing difficulties taxing it.
From Traditional To Online Betting
Soon enough, traditional sports betting has evolved into online sports betting; people now can place their bets online through online casinos and sports betting platforms. However, the traditional way of sports betting is becoming less popular since it is limited to specific geographic areas. At the same time, Online sports betting allows people to bet on any match they want and wherever they are.
Two Major Developments: Regulations And Mobile Phones
The first online gambling site emerged in the mid-1990s; the website was a success, and many sites followed shortly over the years. Online sports betting has undergone two significant developments in the last few years.
In the beginning, online sports websites allowed bettors to place their wagers before the game only. In 2002, these sites changed their policies; they made it possible for people to bet on live sports matches, called prop bets. This type of bet allows people to place their wager on what may or may not happen during the match, not only the final result, and that was a notable evolution in the online sport betting industry.
The second development is the widespread use of mobile phones. It is not a secret that mobile phones have changed the world; online sports betting isn’t an exception. As a result, online sites were forced to adapt to the new technology. They added a mobile-friendly option to their websites and even created mobile apps, which helped increase the number of users. Since using mobile phones has become a life necessity, almost everyone on the planet uses mobile phones for various reasons. That’s why mobile phones have contributed to the expansion of this industry.
Esports And The Digital Revolution
Sports betting was there many years ago, from wrestling and chariot racing to football, basketball, and others. People enjoy playing sports, watching them, and placing bets on match outcomes. However, with technological advancement, a new form of sports emerged, and that would be E-sports.
It is a modern approach where players compete in the digital world using their computer devices and mobile phones. Surprisingly, E-sports became widespread; for example, many soccer clubs built digital teams to represent the clubs in esports championships.
Esports are becoming more popular daily. Even though it’s still relatively new compared to traditional sports, online sports bettors worldwide are placing bets on their outcomes too.
Online Sports Betting Now
Online sports betting has become a huge industry that controls billions of US dollars annually. Online casinos, companies, agents, and other business entities got involved in this industry and participated in its growth over the last few years.
However, governments worldwide couldn’t place strict bans on online sports betting and have to legalize the process to a certain level. Although some countries still ban any forms of sports betting, others issued new regulations to keep it under control, like many states in the US, Canada, and the UK.