Online Betting: The Evolution of Sports Betting

With the legalization of casinos and online casinos in many countries, people who were previously worried about legality, have also started spending their time and dime on online gambling. The online gaming industry has been on the rise, and with that online gambling and sports betting have been as well.

The online betting industry is not just about gambling, which is what is garnering the industry more and more attention. It’s proven to be a world of entertainment with their exciting games, massive jackpots, and an opportunity to enjoy the games from the comfort of one’s home. When it comes to sports betting, it provides a lot of fans a means to be a more active participant in the games.

The fun factors that are attributed to online sports betting aren’t the only thing that attracts new players. The perks – when betting on the sports you are passionate around you, aren’t all financial. Many people started as just a way to show their faith in their favorite teams or as a way to support them.

When online betting was sort of in its infancy in the early internet years – around 1999 to 2004 – the people betting didn’t exactly use statistics to place bets. It was determined by what they were feeling at the given moment about the game or how the odds looked. There wasn’t much math involved, it was more pleasure than business. People put bets based on fan bias and watching lines move.

Legalization of anything related to betting has always been dicey so when the sports betting industry first took off, it was not regulated too closely. Online betting sites need licenses to run their business and that is what you should always be checking when betting on one. The problem here was that the requirements for those licenses were not very strict, there wasn’t much thought put into the prerequisites.

woman being happy winning a bet using a sports betting app on her phone

As a result, many online betting sites had some kind of gambling or betting license that authorized them to operate and provide their services, but it was not very accommodating and safe for bettors. When the industry picked up in the early years, brand new companies popped up with a goal to make a profit by providing an excellent service to their customers. These were some trustworthy sites that launched in the late 90s.

But because of the lenient legislation, scam sites popped up in plenty too. These sites were launched with the specific purpose of ripping people off. People weren’t that educated about this sector of betting. People usually placed a bet on the first site they came across and many got scammed. But, with years, the regulation has gotten much better.

The various online gambling jurisdictions around the world that have legalized and regulated internet betting in the recent years make it a point to be strict about which sites they issue licenses to, and they ensure that all their licensed sites operate in a fair and ethical way.

With the online casinos growing as an industry, a lot of progress has been made and every aspect has been played with to make the industry feel more inviting despite the years of the stigma attached to it.

With the popularization of the online casino culture, hundreds of new games are introduced frequently – which brings new players and which in turn increases the introduction of new games – it’s a continuous cycle. They then usually migrate toward sports betting or vice versa.

With the betterment in regulation, winnings, and the improved decision-making of placing bets, sports gambling has become a serious side hustle to earn extra money for people. Many people have turned their passion for sports and their knowledge of their games in a lucrative side hustle – which fuels not only their passion for sports but also their bank balance.

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