When talking about sports betting, we all know that it takes place ALL the time. In fact, it takes place so often that you may have never even known it was illegal to do.
While the government has strict regulations about sports betting, they have never stopped individuals who partake in the activity. What we mean is that coworkers, friends, and family have all been able to wager amongst themselves and have not been arrested for it.
What is more shocking is that about $150 billion is wagered illegally on sports in the United States. Now that’s a lot of money.
In December of 2018, there was a new bill that was introduced to Congress that petitioned to place sports gambling under the federal government as opposed to each state individually.
One step towards progress was made that struck down a long-standing law form 1992 which allowed Nevada to hold the monopoly for sports betting. This is a step in the right direction as the invalidation of that law now means that other states can participate in sports betting.
What are the Common Types of Sports Betting in the US
There are several types of sports betting that can take place and many of them are played with the NFL, MMA, NHL, NBA, and similar sports.
The first type is the point spread. This is one of the most popular ways to bet in sports today. This strategy is often used in both basketball and football because it works well. With this type of bet, you choose a winning team and then how many points you think they will win by.
The second type is the accumulators or parlays. These types of bets allow you to choose more than one team. While it sounds like a slam dunk, it is not because you must choose all the right teams to win. If one if off, you lose.
The third most common type is the over-under or totals bet. In this bet, you decide if the outcome will be higher or lower than the initial set line by the bookmaker.
What Do US Citizens Have to Look Forward To?
If sports betting does become legal, you can expect to see a lot more screens everywhere. It is important to have these screens because they allow the bettors to pay attention to the scores, games, and how their chosen team or player is doing.
In addition, it would not be a surprise to see that new algorithms are set into place to help provide real-time updates and odds.
While sports betting is not legalized completely across the United States, it is said that if the government were to legalize it, it would bring in a lot of money for the states and government too.
If you are someone who likes to make and place sports bets, soon, you will likely be able to do it legally and without having to hide out in the garage with your friends.