How Sports Betting Has Evolved With the Rise Of The Internet

Sports betting began in earnest more than two thousand years ago and has since evolved into what is now recognized as a multibillion-dollar global industry. What led to all of this was a mixture of dynamic regulations, the gradual improvement of technology, and the societal attitude towards the industry in general. In this article, we explore how sports betting has evolved with the rise of the internet and what the future holds for the industry at large.

The History of Sports Betting

With the internet having ushered in a new age, the world of online gambling began back in the mid-’90s. While it was still a matter of online casinos back then, over time, the technology improved and the world of online sportsbooks emerged with it. Since then, the days of limited sports betting options are over as many of the best betting sites began exploding across the globe, and a new world of online sports betting branched out more and more. According to sports editor Chirag Dubey, with the proliferation of online betting platforms we have now, the most successful ones are usually distinguished based on factors such as welcome bonuses, payment methods, and overall playing experience. 

While it may all seem like a contemporary industry, wagering on the outcome of sports events is something that can be traced back over millennia throughout different cultures and eras of history. It’s a journey of more than two thousand years that has evolved from ancient origins to the highly sophisticated industry it is today. Among the earliest known sports betting societies, the Greeks often bet on the outcomes of their Olympic Games while the Romans enjoyed betting on gladiator games and chariot races, which played a significant role in making them hugely popular events.

Sports betting continued through the Middle Ages, a time when people would bet on jousting tournaments and other knighting competitions throughout medieval Europe. By the early modern period, around the 17th century, horse racing became known as a significant sport for betting, especially in England. Racecourses and organized races were later established, helping to formalize the practice. In fact, much of organized betting never actually started until the 18th century, when bookmakers began setting odds and accepting bets from the public. 

As the practice grew more popular and widespread, in the UK, the Betting Act of 1853 tried to regulate and curb betting activities but by the late 19th century, laws became less restrictive, leading to the establishment of legal betting shops. Later on, by the early 20th century, sports betting grew very popular across the US, particularly among horse racing events and baseball. That trend kept growing and soon spread to other sports like football and by the time the internet came into being in the late 20th century, the sports betting industry was already completely transformed as it became widespread across a variety of sports worldwide and had already grown far more accessible than ever before.

From Traditional Bookmakers to Online Platforms

As a result of the rapid growth of the internet, over the last two decades, there has been a huge shift from physical bookmakers to online platforms, making it possible for people to bet on their favorite sports from anywhere in the world—subject to any relevant regulations governing a particular sportsbook. This has made sports betting more accessible and convenient for everyone. Online betting sites allow users to bet remotely, eliminating the need for people to travel to a physical betting shop just to place a wager. Anyone of legal age with an internet connection can now take part in sports betting, regardless of their location. These conveniences and technological innovations have opened up the sports betting industry to a much larger audience, leading to an increase in the overall volume of bets being placed.

A Wider Range of Betting Options

With the introduction of online betting platforms, betting options also increased, making it possible for sport gambling platforms to offer variations like live betting, prop bets, future bets, and exotic wagers, among others. Sports betting has evolved far beyond just being a wager on the outcome of a game, giving bettors the option to find the bets that best suit their preferences and betting style. 

The internet has further expanded the range of betting options available to sports bettors, including various types of bets and a wider selection of sports and events. Sportsbooks have moved from traditional moneyline and spread bets to exotic wagers like parlays and prop bets too. People have a wide variety of sports from around the world to bet on now, including everything from athletics to modern trends like esports.

Mobile betting apps

The internet age has also since brought with it the amazing developments of smartphone technology. As these grow more sophisticated every year, online sports betting sites are slowly giving way to mobile betting apps, which conveniently make betting available on smartphones and tablets. Between user-friendly interfaces and simplified betting processes, anyone can now navigate their favorite local or offshore sportsbooks from the comfort of their own home.

Regulatory Changes and Security

Since online betting could now take place anywhere, it became necessary to review the regulations governing how sports betting was to be done, taking into consideration all the platforms used for betting activities. Many countries and states have legalized online sports betting and established guidelines for operators. These strict regulations and oversight in many jurisdictions help to ensure the security and fairness of betting activities. Bettors can feel confident that their personal and financial information is protected when betting online. 

Payment options

The internet has introduced several of payment methods that punters can use to place their wagers on their favorite sports betting platforms. People can now use everything from bank transfers, and eWallets, to prepaid vouchers and even cryptocurrencies. Although crypto gambling is not as popular as other payment methods as yet, the internet has made it possible to integrate it into betting platforms, and its reach is growing rapidly. 

Social and Community Aspects

The internet has also created a global community among sports lovers throughout the world, fostering groups that share tips and strategies based on their personal experiences. This means that the platforms can be used for both betting and social interaction by like-minded people. Users can learn from each other and improve their betting strategies.

Some Challenges in Sports Betting

- The issue of match-fixing and other corruption issues still pose a threat to the integrity of the industry and new measures are being put in place all the time to counter the effects of such practices.

- Sometimes the regulations that need to be followed can change on short notice, which might make compliance with the updated law a challenge since sportsbooks will also need to adjust their operations to fit in with the changed regulations.

The Positive Economic Impact of Sports Betting

- Sports betting can generate money for various sectors, such as the government through taxes.

- The industry creates employment opportunities for different job specifications, such as IT, marketing, and customer support.

- Sports betting can help increase fan interest and participation in sports.