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There are two major components to the global sports betting industry. These are sportsbooks and handicapping services. There are websites and magazines devoted to the topics and issues specific to the betting industry, but they are minor players in this worldwide industry.
Sportsbooks are located all over the world. In the United States, Sportsbooks can be found mostly in Las Vegas. A sportsbook is a place where a sports gambler can wager legally on different sporting events, and even some things not relevant to sports at all. The greatest concentration of sportsbooks is in the Caribbean Islands and in England. They take clients from all over the world, so they are truly in business on an international scale. The steady rise of the internet in worldwide access and popularity has also led to an expansion in both the number of sportsbooks in existence and the size of these sportsbooks. Gone are the days where the majority of sports betting is done through local illegal bookies. Today, mostly thanks to the proliferation of the internet, International Sportsbooks have legitimized sports gambling in a way few thought possible 20 years ago.
The second major part of the global sports betting industry is handicapping services. These can be in the form of newsletters, pay–per-pick 900 numbers, and the handicapping companies that cater to clients from the day to day (daily picks) to the year round (by the season or by the calendar year) both over the telephone and over the internet. Handicapping services are in business to provide clients or readers with winning picks or selections. Basically, they instruct their clients on who or what to bet on. Professional handicappers typically have a great deal of information on the games, use their own systems and formulas, and have years of experience that allow them to pick winners at higher percentages than the average “Joe” off the street. There are many legitimate and accomplished professional handicappers, but as with any industry, there are some that are just out to take their clients money. There will always be a small percentage of frauds in any business, and the global sports betting industry is no different. |
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