by Jerry "Jet" Whittaker

Dec 22, 2006

A brief introduction to Sport Gambling:

Since pre historic ages gambling and human civilization were hand in hand. However at present the scenario of gambling has been changed drastically. With aid of computers and the advent of the Internet has opened up new avenues in the gambling world. Another significant success of the gambling world was when it was introduced in the world of sports. This has been a boom to both the gambling and as well as the sporting world. With the introduction of sport betting the particular sporting event has also began to attract spectators and fans from around the world. In addition to this the introduction of different sport betting sites the accessibility problem has been solved. Almost anyone access the Internet from anywhere and bet on their favorite teams and players. However the legalization of Internet gambling is yet to be confirmed even though it has been regulated in many parts of the world. The United States has not accepted the regulated sports gambling online.

About gambling odd:

Odds have been the standard way of representing probability used by the bookmakers in gambling either in the casinos gambling or in sports gambling. The method of the representation of the odds varies by far according to the location. If we go for the description of odds from the mathematical point of view it can be defined as a unit in favor of an event or a proposition represented by the term P/(1-p) where p is the probability of the event or the proposition. To make the things more clear let us consider the following example. Let a random day of the week has been chosen, thus the odds that were chosen on Sunday would be 1/6. The odds are different for different games and the names for a specific number of games are also different. The odd maker who is also known by the name of bookmaker, bookie or a turf accountant are those person or an organization who takes the bets and pay the winnings depending upon the results as well as the nature of the bet placed on a specific sporting event. At present in the United Sates, betting in most of the popular sporting events like golf, soccer, football, tennis, baseball and hockey as well as different horse and grey hound racing events are done through odds. 

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