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The real aim of a Sportsbook is to attract equal action on both sides of the Game, not to predict the Outcome

December 7, 2013

In America, it is only legal to place bets with a sportsbook in four states.  Those states are Nevada, Montana, Oregon and Delaware.  This is the law according to the Professional and Amateur Sports Protection Act of 1992.

But before we get into detail about the aim of the modern sportsbook let’s start with a bit of history:

 

A bit of a back story

People have been betting on things since nearly the beginning of time.  In fact, even though the Christian Bible was a book that was commissioned by the Council of Nicaea during the reign of Constantine there were depictions of gambling within it…it turns out that gambling was common during the time when Jesus walked the earth.

Sports betting was very popular during the early Roman days when gladiators fought in the arenas and the first Olympic games took place, though it’s safe to say that nobody was betting a point spread in the early days of the Olympics.

It’s possible that back in the early days a sportsbook was used to place bets, but the fact of the matter is that sports betting has been around nearly as long as there have been sports to bet on.

 

Sports betting makes the game more interesting

Sports betting makes watching athletic competitions a more interesting activity.  No matter if you use a sportsbook or if it is a friendly wager between friends or co-workers, a wager generates more interest in the game because it gives observers more of a reason to care about the outcome. When there is money riding on a game we get more excited about the competition because it directly affects our life.

 

A Sportsbook view

The goal of any sportsbook is to make the game more exciting – accomplishing this feat by making a point spread to build interest in the game’s outcome. A sportsbook is not in the business of predicting the outcome of the event, rather to increase bettor engagement in the match’s specific outcome (the score of the match matters in addition to which team wins and which team loses).

The point spread was invented in the 1940s by early sportsbooks and ever since it has been an important factor in sports betting.

This brings us back to the legal issues surrounding modern day sportsbook action (mentioned in the opening paragraph).

 

Legality

While placing bets with a sportsbook is only legal in Nevada, Montana, Oregon and Delaware the internet allows sports enthusiasts from around the country (and world!) to place an online bet with sportsbooks based in those four states.

Winning bets are payable as soon as the event in question is over, but unlike some wagers on sporting events betting with a sportsbook is slightly different and it’s important to know how and why.

While a sports league considers a game or event officially over a sportsbook can have a different take on the matter.  For this reason, it is always recommended that you take a close look at all of the fine print before placing your bets.

When you’ve read the fine print and are satisfied with your wager you’ll enjoy the game more than you otherwise could have – watching each match with a deep, multifaceted interest in the outcome that you can only get when you place a bet with an online sportsbook.

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