The history of sports betting dates back from the birth of sports but it was not highly recognized than it is today. The teams from amateur, college and professional leagues have bets and wagers once the games were played. In the last three decades, the popularity of sports betting has surged into new heights, in fact, it has become the most popular form of gambling worldwide. The reason for this is that sports betting can attract different types of people from all ages, they share a common thing and that makes sports betting more exciting than ever.
Some people bet for financial gain while other enthusiasts do this to become part of the sport they love most. Whatever reasons they have, it is unquestionable that sports betting is very popular nowadays.
There are bad connotations of sports betting, it is considered an illegal form but this is not the scenario today. Sports betting has become a legalized form of betting, the reason why there are a growing number of enthusiasts. The legalized aspect of sports betting has made the sports world more attractive, some of the reasons are:
- The federal excise tax dropped big time, originally it was 10% then reduced to 2% and recently it stands at .25%. The decrease of tax imposed in sports betting has converted illegal gamblers to legalize their bets because it can become a profitable business.
- The media made it possible to bring live games right at the homes of sports enthusiasts. Cable television and satellite technology made this possible even if the actual game is hundreds of miles away.
The most popular sports that people bet are baseball, basketball and football because these sports have national and local television providers. These three sports were the driving factors why sports betting has gained new heights in the international market. As an effect, the negative connotation of gambling before has been eliminated and became acceptable everywhere.
Sports betting has really gone a long way from the way it started.