Sports betting fundamentals: what it is, betting history and theory for beginners
Betting is betting at a bookmaker's office. Interest in sports betting arose 300 years ago, and a breakthrough happened in the 21st century. We analyze the history of betting, what a beginner needs to know and what laws on this topic are in the Russian Federation.
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The history of betting development
History will help to tell about the world of sports betting and betting. Excitement and the desire to defend one's point of view is a characteristic inherent in a person at all times. Sport developed back in Antiquity, and even then the first bets on winners appeared.
Officially, the history of sports betting dates back to the middle of the 17th century. The British and French defend the palm. The first claim that horse racing is the national pride of the British, namely, betting on horses began modern betting. The French insist that it was they who began to officially accept bets. And they even call a specific date - horse races on May 15, 1651 in the Bois de Boulogne.
Professional betting experienced its heyday only in the first half of the twentieth century. Horse betting by this time already had a long history, but sports betting was not common. In many European countries, so-called booths appear, and then laws regulating their activities.
The modern stage of the heyday of sports betting is associated with the introduction of interactive technologies. In the 21st century, betting became available online, which is why the betting business experienced an unprecedented rise. For example, in Russia about 8 million people place bets.
Thanks to new technologies, you can get into the world of betting and start making bets in a couple of minutes. But is it safe?
In order not to lose a lot of money, learn the basics of betting, the rules of player behavior, principles of financial management and other nuances.
What a newbie needs to know about the world of sports betting
There is a specific vocabulary in betting. You have an interest in sports betting, want to know what a bookmaker is, total, line, bet, forecast, express, what types of bets are and much more. Prepare for sports betting to be a complex and multifaceted activity.
To be successful in betting, build knowledge of the following areas:
- principles of bookmakers' work;
- features of line formation, painting, coefficients;
- the sports you are going to bet on;
- rules of financial management, game bank management;
- effective betting strategies, thanks to which you can be in the black on the distance.
There are fans who use sports betting to boost their emotional state. Rooting for your favorite team is even more interesting if you bet on its victory.
How bookmaker odds are formed
Let's figure out what betting is and how bookmaker odds are formed. In an ideal world, the formula works:
K = 1 / B, where K is the coefficient; B - the probability of the outcome in decimal fraction
If the teams have an equal chance of winning, that is, 50 to 50, the calculation looks like this:
K = 1 / 0.5 = 2.00.
However, the bookmaker almost never has 2.00 odds for each of the opponents to win. Most often they will be at the level of 1.80-1.95.
Such an understatement is the commission charged by the bookmaker, the margin. The office always puts itself in a better position. This is the principle of betting, and every novice player should know about it.
Principles of bookmaker's work:
Betting in Russian law
Betting is a business that covers a wide variety of areas of activity. This is confirmed by the Russian laws regulating its work:
- ФЗ dated December 29, 2006 No. 244-ФЗ (with subsequent amendments) "On state regulation of activities related to the organization and conduct of gambling and on amendments to certain legislative acts of the Russian Federation." This law provides the basic definitions associated with legal betting activity, establishes the rules for its organization, relationships between all subjects.
- Tax Code of the Russian Federation No. 117-FZ. Winnings at bookmakers are taxed, which is also regulated at the legislative level.
- ФЗ № 329-ФЗ "On physical culture and sports in the Russian Federation". It establishes bans on the participation in the field of betting of professional athletes, judges, officials and other people involved in the organization of sports competitions.
- Federal Law No. 152-FZ "On Personal Data". Bookmakers collect personal information about customers with documentary evidence. This is necessary to comply with a number of established procedures: checking the age, place of residence, tax status of the client.
By placing bets, you risk your money and enter into complex social, financial, legal relationships. This complexity is an integral part of modern betting.
Before playing for real money, follow three steps: study the laws of the Russian Federation on betting, read all the points of the bookmaker's rules and test your strength on a virtual account.