by Benjamin Cronin, Pinnacle
The first ever bet or instance of gambling in some form can be traced back over thousands and thousands of years. While a lot has changed in that time, there is still plenty of room for development and even more change. Why is it important to think about the future of betting? Read on to find out.
The primary concern for most bettors is the here and now. While the use of historical data in trying to predict the outcome of an event in the future is a basic component of betting, it often limits bettors in terms of how far they think ahead.
Understanding the history of betting and how it’s got to where it is now is interesting but it won’t necessarily provide you with an edge. However, thinking about this in relation to what might happen in the future could prove to be a useful endeavour for anyone serious about betting.
One of the keys to finding value in the betting market is exploiting something that the bookmaker is yet to factor into their odds and the sooner you anticipate the more scope you have to make money from it. Whether it’s new technology, capitalising on new markets or even new sports entirely, there is always potential to find an edge.
The development of sports betting
Gambling has come a long way since the rolling of a dice in China back in around 2300 BC. Simplified versions of betting on sports, like chariot races and gladiator games in Ancient Rome, soon developed into a more organised activity with the emergence of designated “bet takers” or bookmakers.
What started with horse racing soon spread to other sports such as soccer and tennis. Bookmakers then moved from trackside or outside stadiums and into betting shops before the Internet burst onto the scene and online betting begun to take off in the late 20th century.
Since Pinnacle was founded in 1998, countless bookmakers have launched around the world. Now you can bet on pretty much any sporting event across various competitive levels and in numerous different formats.
While the mechanics of sports betting have changed considerably over time, so has the way people approach the process of placing a bet. It is those that have adapted and spotted an opportunity quicker than anyone else that have been the beneficiaries of the fact that betting is constantly evolving.
