As per historians, bets were first placed back more than 2,000 years ago by the Greeks whose love for sports led them to announce the Olympics to the entire world. From the Greeks, sports betting spread to ancient Rome where it was finally accepted and then later on legalized.

During the advent of medievalism, some religious leaders tried for making laws that could forbid people from betting. Later as years went by, gambling became very common in England as many lords would make bets in horse races, spreading the practice to the rest of the globe.

Famous Betting Scandals

arbitrage sports betting

There have been numerous sports betting scandals that have affected the veracity of sports events. Some of the most popular betting scandals are –

India-South Africa match of 1999-2000, is another well-known scandal wherein the Delhi police realized that the captain of South Africa had accepted money to throw matches when they were intercepting the conversation between him and a blacklisted bookie. Although, the South African government refused to let any of its players face the investigation called out by India. But when a court of inquiry was set up, the captain of the South African team admitted to accusations. The consequence was that he was banned from playing all cricket matches. It is suggested to join some sports to avoid addiction. Another possible way could be postponing the events of betting as much as you can. You may also find alternatives such as traveling, yoga, or meditation to escape the temptation because it is never too late to start.

Is it legal to invest in Sports Betting?

In many countries, it is legal and regulated with certain terms and regulations. The confinement of Sports Betting regulations is really simple and convenient, on contrary, in regions where sports betting are prohibited; bettors generally place their bets with illegal bookmakers or on the Internet, where thousands of online bookies accept wagers on Sports Betting events all over the world.

For instance – The National Football League is vehemently opposed to any legalization of sports betting, arguing that it will introduce corruption further into the game. Along with that, the CEO of the International Cricket Council considers that sports betting games, particularly in India, should be allowed in order to combat illicit bookies and inconsistently enforced bookmakers where match-fixing have happened. Many of the unlawful earnings are also said to be used to support terrorism, narcotics, and other criminal activities.