Athletic competitions have been a part of human society and culture since its very inception. We have evidence that suggest that wrestling competitions were held as far back as the earliest kingdoms of humanity, including Babylon, India, Persia, Egypt, etc. We’ve all heard of chariot racing, but did you know that these competitions took place as early as 3000 BCE. And of course, there is not a person alive who does not know about the Ancient Olympics, which we still celebrate today.
With so many sporting competitions throughout history, many of you might not be shocked to learn that wagering on sports is just as old as competing. Historians have uncovered evidence that proves Ancient Greeks and Romans placed bets on certain athletic competitions. This practice carried on throughout history and remains hugely popular today. Check out Sportsbook Singapore.
How Betting Has Changed?
We have good reason to believe that wagering is as old as sports themselves. However, throughout history, as culture has changed and evolved, so too has the practice of betting. Once upon a time, betting was quite simple. The nobility would sponsor teams / athletes and bet certain sums among each other on which of these teams would win the given competition.
Today, however, betting works completely differently. Of course, people can still make these types of bets privately. But professional or serious bettors go through sportsbooks or betting exchange platforms to place a wager. And the most recent development among many sportsbooks is the inclusion of live betting, a new practice made possible thanks to the power of technology.
What is Live Betting?
With the emergence of online betting websites, the world of sports betting has changed quite significantly. For one thing, betting has become a lot more popular among multiple groups. For most of human history, sports betting has been a “boys club”. It was usually men, especially in their 20s and 30s that participated in the industry. However, some recent research has found that women are much more likely to join up betting websites than men are. So, the industry is certainly growing.
And a huge part of what makes these online sportsbooks so popular is the addition of live betting. For those who may not know, live betting is the option to place wagers on given sports competitions while the event is going on. For example, let’s say you are watching the latest Premier League match. Through live betting, you can place bets as you are watching the match. This helps bettors make a more informed decision on who they want to place wagers on.
Why is Live Betting So Popular?
One of the main reasons for live betting’s popularity is that it allows bettors to make better decisions when putting down their wagers. Watching the match lets you know which of the two sides has the greater chance. So, as an example, let us take a hypothetical NBA match. If the Lakers were going up against the Chicago Bulls, and the Bulls were down by 10 points in the second half, you could assume that they wouldn’t be winning the match and place a bet that reflects that.
Of course, there have been last minute changes in a game, and you can never truly know how a match will end until it done. But live betting still helps in the decision-making process. Naturally, this does affect the odds you play at. So, if the team you place a bet on is certain to win, then naturally the odds will reflect that, and so will the payout you earn when you win your bet.