THE ERA OF SPORTS BETTING
Sports is a very beautiful thing and is enjoyed by all. When your favourite team is playing, you take sides and that’s completely natural.it is difficult not to take sides. There’s always a better team, a better captain, a likable coach and even our more preferred country side. You see, as humans, we all like to strengthen our resolve. In order to do this, we tend to put our money where our mouth is. It’s that simple. Because our money is involved, we have fulfilled a desire to become a part of the competition. Moreover, sports betting is legalised according to the Supreme court ruling. Read more on the ruling here on CNN
At first, sports betting started as gambling between two fans, when the only question was who would win. With the change and advancement in technology, however, sports betting has graduated and become more complex and more interesting. The problem with the old form of sports betting was that each fan must find a willing partner with whom he stakes odds and they bet on several phenomenon including whether or not a chicken would pluck the other’s feathers, or whether a dog will win a race, or whether a bull would break its horn.
It is clear that a fan had to find another who has the opposite opinion for betting. But they must also have the same purse size. This process is long, tiring and often times inconsistent. Many a time, after placing a bet, the other would find out that the loser is poor or has nothing. So measures have to be put in place. One such was finding a professional intermediate man whom both sides can trust and rely upon. That intermediate man would accept bets from the people who wants to participate.
Since then, it is possible for people to bet without knowing each other. Even total strangers bet. They appoint one who is called a bookmaker to accept all the bets in odds with a relative percentage that goes to him as his own interest or profit. So no matter who wins or loses, the bookmaker makes his own profit.
But even then, this procedure showed loopholes and flaws. It is very hard not to have a situation where a bookmaker would not have favourites even though he receives profit. The bookmaker can remove the people’s favourite from his list and refuse to accept further bets on that horse or team or even placing a bet on it through another bookmaker.
However, with technological advancement, things have slightly changed. Devices that automatically calculate winning odds for several events have been invented. This makes more sense in that both the agents or bookmakers and the winners gain a considerable amount. After everyone has put a bet on a particular event or match and total amount of the money is calculated, the agent’s percentage is deducted as commission from the amount, and the rest of the money is distributed among the winners. This makes sense, because the more the people that that bet, the more the money to be distributed.
Nowadays though, different types of machines have been invented and are mostly integrated with computers.
NetBet is one such website that uses computer integration and modernisation in calculation and collation of odds without any glitches. Sports betting is made super-easy with their website. The UI has a beautiful interface to enhance your betting experience.