Betting on sports like football has been around for a very long time. For many decades, a punter would meet with the local bookie at a pub, all of which was very informal and without any type of regulation. The bookies set the odds, punters paid for their bets, and where lines of credit were extended to the punter and debts were not paid, bookies would resort to violence in order to retrieve what was owed, through cash or in kind.
Micro Betting – Changing the Face of Betting
In the past, betting was common, but largely centered around outcomes of big national sports such as European soccer or local games involving neighborhood clubs and their home matches. The advent of the internet and the ease with which information about sports schedules, team match-ups, and real-time updates on scoring could be accessed has meant the evolution of a new type of football betting.
Known has micro-betting, punters are now able to place bets on specific components of the game, not just the overall outcome of the match. Micro bets include, but are not limited to, betting on who will kick the first goal, who will be in front at half-time, who will win a penalty shootout, or who will be red carded.
Online Betting – Making Betting Accessible
With bookies identifying the opportunity to access growing online markets, with punters now betting on outcomes and micro bets, football betting has evolved into a much more prolific pastime. Punters can now set up online football betting accounts linked to their bank accounts or credit cards and place bets from the comfort of their own lounge room.
As the online sports betting market has grown, so too has government interest in the betting sector. This has seen some governments (like France) regulate online betting, making “as live” and “fixed odd” types of sports betting legal.