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Betting Companies Have Entered Sports Sponsorship

Sports betting is a well-known phenomenon that many fans like to indulge in when watching matches. It is a thing that makes watching sports more special and exciting and can also be a fun activity to do among friends. While sports betting is one of the best examples of how sports go from being pure joy when we are little, to a huge billion-dollar industry in the professional stages, it is a way for you to support your favorite team and also a way for betting sites to support them as well. 

Betting companies are now entering various different sports through sponsorship with teams and players promoting the difference. It is especially common in football, where 70% of teams have betting sites as one of their sponsors. One-quarter of the teams have the betting companies’ logos displayed on their shirts. A study done on 188 sports found that 30% of the teams were associated with companies that operate in markets that are not subject to specific legislation for sports betting or practice prohibition.

What is sports betting?

First of all, let’s take a look at what sports betting actually is. Sports betting is about predicting the outcome of certain matches. One match or several. The sites operate with odds that are put on the different categories you can bet on. In a football match between Italy and Sweden for example, Italy will most likely have the highest odds since they are a historically better team. If the odds are 1.6, the money you put into the bet will multiply with this. High and low odds are the reason why many like to bet on the underdogs because if they win, they will earn more money. Most sports betting happens on dedicated betting websites or apps, where you as a bettor are able to input, bet, and withdraw money, all in the same place. 

Can you trust sports betting sites?

Betting itself should not be viewed as something negative. It is a hobby like any other and not the least a business. The important part for the bettor is to make sure they keep the gambling moderate, and not form an addiction. Choosing a betting site must build on a recommendation of former customers, the right licenses, and reliability. 

Some are raising concerns about the growing use of betting as sponsors because it can lead to illegal crime exploiting sports betting. An example is match-fixing to pursue criminal activities including money laundering, organized crime, or completing unsafe bets on sites without the license that is required by that national jurisdiction. The latter is the very reason each and every bettor should always research the betting site properly to find one that is sure and legitimate. 

Sports betting took a huge hit when the coronavirus broke out, but as the sports events are back on their feet, more and more people are betting, which makes betting sites an obvious sponsor for sports teams all over the world.

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