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There is nothing, it seems, quite as natural to human beings as betting is. Betting has been a part of human culture on every continent on Earth. From the Natives of North America to China and everywhere in between, placing a wager on the outcome of a game has been a part of sports life.

Sports betting continues to be a big part of our culture today. Just as in times past, there is just not a single sport you can name that does not have some sort of betting audience. Proponents of sports betting state that it's a harmless way to add just a little fun to the game. Even if you've got never been to a bookmaker, odds are that you've got made some sort of wager on a sports event. It might be a fantasy pool, it might just bet for a beer with a buddy, but you have been drawn through the appeal of making a correct prediction.

For many people, sports betting is more than just a way to spice up a favorite past time; it is big business. All over the world, bets are placed on lacrosse, cricket, fantastic football, soccer, baseball, and every other sport you may name. Some people win big, many people win consistently, but it's always the books which come out on top. Let's take a deeper look-at what sports betting is all about, and some of the burning questions people have on the topic.

Is sports betting legal?

Among the biggest questions surrounding sports betting is regardless of whether the activity is legal. The truth is that in many parts of the world, sports betting is legal. Most of Europe and Asia regulate sports betting quite heavily, but bettors can place their wagers without fear of legal reprisals.

North America is a different story. In Canada and also the United States Of America, wagering on sports is only actually allowed in four states: Nevada, Delaware, Montana, and Oregon. Of these, only Nevada actually allows sports gambling outfits to operate.

Basically, this doesn't necessarily mean that North Americans are out of luck whenever they want to wager on a game. The internet has opened up a wide selection of opportunities for residents west of the Atlantic to places bets on sports, although they must do so through books operated in an area where sports gambling is legal. Even therefore, the status of those operations is just a little bit shady.

How does sports betting work?

Official sports bets, those which occur through bookies rather than buddies, are carefully measured odds offered by shrewd business number crunchers. Whether we have been discussing Las Vegas or Beijing, you can be sure that the books are one step ahead of your average bettor when it comes to wagering.

This isn't to say that you don't stand a chance of winning whenever you place a bet, because one of the appeals of laying a wager on a sports event is that victory is equal parts knowledge and luck (rather than casino wagering, which is just about just luck regardless of what Charlton Heston must say!).

The sports books offer several different kinds of bets, all of that are designed to ensure that the book itself makes a profit no matter the outcome of the event. That profit is known as the vigorish (vig for short). It's usually around $10, paid through the individual whom loses the wager.