The true story of sports betting industry

| 30th Jul 2016

The true story of sports betting industry

The global gambling industry, estimated at more than $400 billion, mainly includes lotteries, bingo, casinos, etc.; about 13% of this market is occupied by sports betting. The activity of placing a wager on the predicted result of a sporting event or game, or the performance of individual players in the game, is called sports betting.

Sports betting is mostly popular among the football fanatics as this game attracts millions of viewers worldwide. Betting in EPL and Spanish Leagues is the recent hot cake of the market but Premier League Betting is becoming even more popular in Australia. Due to the large number of football fans, Aussies market is one of lucrative field of the betting genre.

Even though this might seem like an innocent activity, it is considered illegal in most countries. Simple wagers, like betting a friend a small amount of money that his favourite cricketer will not score more than 20 is one thing. But, the sports betting industry is a whole other game. A bookmaker, or bookie, is involved in this, and he serves as a marketplace, collecting the wagers from gamblers betting for and against a particular outcome. His profit lies in the advantage he holds over his customers, usually 11-10 in case of big wagers, and as much as 6-5 in case of small wagers. He maintains a spread or vigorish, and this ensures him profit, regardless of the outcome.

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