Sports betting is the most widespread type of gambling entertainment. Experts say that now rates occupy almost 40% of the total gambling market. Every second resident has already been able to bet online on sports. Live casino India will give you more information.
When did the first bets appear?
People have been betting among themselves since ancient times. This is not surprising since the bet heats interest and determines the winner. The inhabitants of ancient Greece made bets on the Olympic Games, and in ancient Rome, many bet on gladiators. Previously, there were no bookmakers yet, so bets were made directly.
According to the available information, the betting business appeared in the UK. Taking bets on horse racing first began in 1790. The founder of the primitive bookmaker was William Ogden.
The modern bookmaker’s office appeared only in 1850. The founders of the company offered to place bets on sports events. The forecasts were printed on leaflets and distributed throughout London.
In America, France, and Russia, the first BC appeared only 30 years later. The legislation of many countries prohibited betting and wagering. 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 the UK, it opened over 10 thousand bookmakers of various sizes in 6 months.
Companies added new types of rates every year. The most common are the following types of competitions:
Most experts agree that the real revolution in this industry came in 1990. During this period, some companies started accepting bets over the Internet. Ten years later, the size of the sports betting market has exceeded $ 2 billion.
Interesting facts from the world of betting
During the period of bookmaker’s work, many ridiculous and enjoyable situations arose:
The biggest win. In 1995, a woman decided to bet 5p on the races. The odds on the winners were 3 072 887. What played the bet, and the winner received 210 thousand pounds. Ladbrokes company made the payment.
The ridiculous bet. Bookmaker William Hill offered its clients a bet with odds of 1 to 14 million. The gist of the bet was that Elvis Presley would shoot down a UFO that would fall into Loch Ness and kill the monster.
Human factor. Cliff Bryant has bet on the weather in 13 different cities. As a result, he won £ 7.1 million. However, the official representatives refused to pay out the winnings, since according to the established rules, it is impossible to place an express bet 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 bookmakers have the opportunity to place bets on various events. Now you can bet not only on the results of sports matches but also on the following circumstances:
- changes in the rate of cryptocurrencies;
- weather on a specific day;
Gambling is prohibited in many countries. However, betting most often acts as an exception and is an entirely legal activity. It is expensive to obtain permits in some countries. Therefore, BC owners receive licenses from Curacao. Bookmakers licensed from offshore zones face more favorable tax conditions and offer players a wide range of bonuses and optimal odds.
The real realities of betting
It is almost impossible to calculate the total market capitalization. The main problem is that there are many illegal offices on the market now. According to information published by Zion Market Research, the global market volume is in the range of $ 104 billion. This number is constantly increasing as the number of clients who want to guess the match’s outcome grows.
After the advent of smartphones, many companies began to develop unique applications that allow you to place bets while outside the home. This year, the share of bets made using the phone should be about 40% of the total. The rapid popularity is primarily associated with convenience.
On the territory of many countries, the activities of bookmakers are legal. Therefore, companies can obtain the required license. However, the majority of bookmaker owners prefer a permit issued by offshore zones. This is primarily due to the low cost of permits.
The future of the world of betting is rapid development and improvement
Experts say that after the transition to online mode, the work of many bookmakers has become more transparent.
Shortly, betting may switch to blockchain technology. This technology will make the activity more transparent since all transactions in the future can be quickly tracked. Many magazines write that the following areas will be actively developing shortly:
- a 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, the blockchain completely excludes the human factor and the intervention of third parties in the processing of bets. Bookmakers that will use blockchain technology will provide their customers with new opportunities that did not exist before.
Cybersport has begun to gain active distribution. Experts are confident that this is a popular discipline that can become Olympic shortly. Now the volume of the esports market is about $ 900 million. Millions of users around the world watch streams.
Bookmakers have already included in the list of championships for several popular games. By looking through the list, betters will find the following games:
- CS: GO.
The popularity of tournaments is constantly increasing, which affects the increase in rates for such events. Some companies are trying to add spice to the sensations, so they provide virtual reality. The unique technology Get InThe Race created the effect of being present at horse races, which caused a real stir among many users.