Sport Gambling Industry

by Jerry "Jet" Whittaker
Nov 8, 2006
 

Sport gambling industry

Sports betting is the general activity of predicting sport in sport gambling industry results by making a wager on the outcome of a sporting event. Perhaps more so than other forms of gambling and the legality and general acceptance of sports betting varies from nation to nation. sports gambling is generally forbidden, while in many European nations, bookmaking is regarded as an honorable occupation and while highly regulated, is not criminalized. Proponents of legalized sports betting generally regard it as a hobby for sports fans that increases their interest in particular sporting events, thus benefiting the leagues, teams and players they bet on through higher attendances and television audiences through out. Opponents fear that, over and above the general ramifications of gambling, it threatens the integrity of amateur and professional sports, the history of which includes numerous attempts by sports gamblers to fix matches although proponents counter that legitimate bookmakers will invariably fight corruption just as fiercely as governing bodies and law enforcement do. These gives a boom to sport gambling industry all over.

Types of sport gambling  

Aside from simple wagers, betting a friend that one's favorite basketball team will win its division, like buying a football square for the super bowl. sports betting is commonly done through a bookmaker. Legal sports bookmakers exist throughout the world. In areas where sports betting is illegal, bettors usually make their sports wagers with illicit bookmakers. It is done on the net, where thousands of online bookmakers accept wagers on sporting events around the world. The bookmaker earns a commission by regarding the money at risk as less than the size of the bet placed. These things make the sport gambling industry so popular and a good source of money making in very limited period.  Whatever people’s beliefs, one thing looks fairly certain at this point and that is that the sport gambling industry has been in existence for over two thousand years and is unlikely to disappear as time goes on. On the contrary, gambling and the sport gambling industry look set to increase and expand as people in the west are finding more time for leisure and more money to spend on it.

Risk in sport gambling industry

Sports gambling can also be an addictive pastime and pathological gambling is an illness and the American Psychiatric Society recognizes it. The sport gambling industry has had to fight hard to defend itself against criticism from those who hold it accountable for the destruction of pathological gamblers lives. In its defense, the sport gambling industries have used its own funds to research and provide assistance to problem gamblers and also claim that sport gambling is a recreation and not a sin. Everyone has a right to spend their own money in whatever way they choose and resent authorities telling them how they should spend it.

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