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The most important facts about sports betting

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If you switch on the TV, there is almost no movie break in which you can’t see at least an advertisement of a betting provider for sports betting.

This is also the case in public transport or on the radio. Sports betting on the Internet was not legal until some time ago. In addition, due to negative headlines about some sports federations, players and the betting business, society’s attitude is largely bad rather than right. In the following article, the most important aspects of the industry will be examined. It deals with legality and security and explains the social aspect. 

The origin of sports betting

Betting has been around for a long time, and there are indications that sports betting has been taking place regularly on several continents for more than two thousand years. Without consultation it is understood that means it was a culturally independent thing. According to this, sports betting is fun for everyone. Already the Romans and the ancient Greeks offered bets on sporting events. At that time, business and the betting market were very little regulated and controlled. In principle, anyone could offer and participate in betting. Over time, however, initial regulations were drawn up to protect providers and participants. This was also necessary in some cases, because game manipulations have also existed since the first sporting events. A prominent example from the past was Kaiser Nero, who won in six different disciplines at the Olympic Games in Rome, although according to the rules he had to lose in all games.

Sports betting – A hobby or a profession

Sports betting has gone through many highs and lows since then. In football there were always manipulations, where referees, players and whole teams were bought. However, the federations of all sports and leagues have recognised that this is a massive threat to the image and credibility of sport and are now taking active action to combat it. The online bookmakers for sports betting also provide more security. They boast on their website about the received licenses and test seals. If a betting provider does not have a seal of approval or has only a few, it is already perceived as insecure and fraudulent, which is not always the case. Increased security, stricter regulation and a wide range of products also make it possible to set up one’s own business in this sector and earn one’s main income from successful sports betting. However, this has little to do with a hobby, because then sports bets are placed on leagues far away from the media focus. However, the path to becoming a professional player is long, should not be underestimated and the focus is usually no longer on the preferred games and teams, but is characterized by the search for profitable betting options. 

Legal or illegal – Sports betting is a crime

To briefly explain the most important question in this article, the answer comes right away in the next sentence. Sports betting is legal. Whether you stand at the betting office and place your bet or search the Internet for bets, both are legal. However, only if the provider can prove a valid license for gambling. If this licence does not exist, there is no state control and regulation. Although you can also find betting providers on the Internet who offer sports betting without a license, you should leave them out and only fall back on a bookmaker with a license. Sports betting online was not legal in Europe until 2011, but there was a partial opening of the market this year. This is why some people still believe that sports betting is not legal. What also contributes to this view is that there was only a partial opening of the market and since then no further policy efforts have been made to better regulate the market. Here are the facts about sports betting in Europe:

– There are no official European licenses for gambling and sports betting instead the one in Malta and Gibraltar

– The bookmakers are authorised by the European Union.

– The granting of licences resembles an odyssey

– Only the betting tax provides some certainty that the market is regulated

This is a summary of the most important information about sports betting in Europe.

Nevertheless, it is perfectly legal to create an account with an online betting provider, participate in sports betting and have the winnings paid out to your own account.

The tax on sports betting

All parties benefited from the legalisation of sports betting through the partial opening of the market. The companies were able to access a large new sales market in this country. The many sports enthusiasts in Europe could now legally and safely participate in sports betting and the state, which lost its gambling monopoly, levied a betting tax of five percent in 2012. The tax gives the betting providers a free hand. There are even still or other offerers, who raise no tax. This sounds confusing, but is still legal, as the betting providers still have a valid license. Other sports betting providers levy the five percent tax on the amount bet or other bookmakers levy it on the amount won.

The most important key data about sports betting and the providers

If one goes on the search for a respectable offerer, one encounters a large offer. On the platform Wettenerfahrungen.com all licensed providers including the most important data and information can be found. This includes information about the number of sports, the amount of the welcome bonus, bonuses for long-term customers or the amount of quotas. These are not the same for every provider. This means that you get a better odds for the same betting option (e.g. Team A wins against Team B) from a betting provider. Therefore, many professional players create a user account with multiple betting providers. In addition to the large number of bookmakers, there are many platforms on the Internet that deal exclusively with how to place successful bets. Knowledge and experience are needed to ensure that the prospects for successful bets and good profits are possible without high risk. The major betting providers offer a section on their platform where you can find news about sports together with tables and statistics and another section where you can read extensive tips and tricks for successful bets. It also contains numerous topics dealing with the legal and social aspects of sports betting.

 

 

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