Playing Legal Betting: The Correct Way to Supplement your Income
Introduction and History
Betting has been a sports to many for years. Beginning from the earliest of civilizations, when people would bet over animal fights such as ostrich, cock, bull fights.
Slowly people even began betting on races of animals such as dogs and horses, some of which exist till date.
Even in the Roman civilization, Gladiator fights were not only a spectacle, but an avenue for people to bet with their belongings. In earlier civilizations, people did not bet like people do today. Back then, people would bet with their belongings such as their livestock, gold ornaments or copper vessels. Certain male dominant cultures would even bet with their wives at stake. When slavery was very much in society, people would even trade slaves after losing bets. Much later people, began seeing a business in betting.
Over a period of centuries various avenues for betting popped up. These include Horse Races on proper tracks, with an organized set-up, rather than spur of the day betting.
This enabled people to be well-informed before hand and they would save up in anticipation of the event, while smiling betting events let people with daily wages to come in and bet to double a certain portion of their wage or lose it all.
Slowly betting began extending it’s wings to the world of sport and players began betting on the game as a whole and even on smaller occurrences during the game which helped them win or lose small amounts without having to wait for the entire game to pan out.
Sports such as Boxing, the betting is seen for the whole match’s outcome and on individual rounds as well. Sports such as Cricket involve betting on the final outcome of the game and even on each and every delivery of the game in the form of micro bets.
In the game of football, players can bet on the entire season as a whole and micro bets on each game with payouts at holiday season such as Thanksgiving and Christmas.
Governments and Betting
Eventually organized betting and gambling spread like a wildfire and in certain countries, the government stepped in to prevent compulsive gamblers from gambling away a fortune. The government also prefers monitoring the gambling and online betting activities as the system can be rigged easily and the funds are often unreported for taxes and even used for funding illegal activities such as narcotics, liquor businesses and even terrorism.
Therefore, Betting was made illegal in various countries, however, in those countries in which it is yet legal, there are lengthy processes and endless paper work that needs to be completed in order for one to open a Legal Betting activity such as a casino, or a race track for horse racing for instance.
Hence, it is of utmost importance that any player who wants to indulge in any sort of activity that involves betting must first check if his/her betting centre/portal is legal, has all necessary certifications and permissions to operate, failing which players and the organizations, both can be in serious trouble surmounting to huge fines and even imprisonment in certain countries.