Wagering on sports is the act of predicting the outcomes of sporting events by placing bets on the results. Although the frequency of the activity varies from culture to culture, the vast majority of stakes are placed on football games—regardless of if it is for American football or the regular soccer game.
Despite whatever frolic gamblers put their money at stake, it is a lucrative business and is widely accepted by numerous people worldwide. No matter where people gamble, sports betting is a risk with only a fifty percent chance of winning and losing.
Hence, countless sports bettors make huge fortunes from their sports wagers.
Nonetheless, how did the industry become a successful one in today’s era?
In 1919, the Black Sox Scandal broke out, involving the heavily favored Chicago White Sox. The team used insider information to rig the series to benefit big-time bettors. Unfortunately, the bettors lost the series, and the White Sox were swindled out of millions of dollars. This scandal made the production a dirty business, and even worse, the laws that governed it were rarely enforced.
This event is the reason why several countries are not allowing sports betting.
However, this occurrence did not stop the sector from running and improving the crowd’s perspective towards them.
So, how did sports betting become one of the most thriving industries in the worldwide economy?
One of the reasons that overflowed their reputation is the rise of technology. With this updated and modernized automation, it is now possible for bettors around the globe to bet on their favorite sports team or player wherever and whenever they want. Many online betting Malaysia websites and applications are available for installation or visitation via mobile devices, personal computers, laptops, iPads, and electronic tablets.
Secondly, the major sports betting wins made the industry known and thriving today.
See the infographic below created and designed by the well-known live casino Malaysia company, CM2BET: