Sports is an activity played among two or more players or teams represented by one or group of players. The end result is either win or lose, or a draw. The more decisive is the end result, the more exciting the sports becomes. This gives way to speculation. Speculation encourages betting. Sports betting are an activity to make a wager on the end result of a sporting event. The scheme of betting is formulated by a bookmaker. The bookmaker is always in profit and a few better earn huge profits which makes the betting all the more attractive.
The bets can be made in many forms. The “proposition bets” is popular in the game of football where the outcome is specific, namely number of goals for and against. “Parlays betting” involves betting on number of teams playing a game and the bettor loses if any one team loses. In “Progressive Parlays”, the wager gets reduced payout even if he loses some of the bets.Similarly “Teasers” facilitates betting on a number of games but the payout is not much. There are several other modes of betting such as “Run Line’, “Goal Line”, “Puck Line” popular in sports like soccer, baseball, hockey and “Future wagers” on super bowl, and “Head to head” in formula one car races.
Sports betting are legalized in some states of the United States most notably in Las Vegas. Bookmaking is a regularized business in most of the European countries. In countries where sports betting are illegal, the bookies, as are notoriously called, put into effect such sports betting through internet.
Sports betting is taking the essence of gambling and is encouraging match fixing. In almost all the sports being played, scandals of fixing are being reported. The ugliest part is that the organizers and even the players are involved in fixing such events. Nowadays, the professional bettors as well as the bookmakers take advantage from information available in the internet; and, both are prospering.