The world of sports betting is ever-changing, and so are the ways fans follow sporting events and bet on those events. In the last year, states have passed legislation to make sports betting available to everyone, the lines have become more transparent, and mobile sports betting has increased in popularity.
These are just some of the ways in which the sports betting world has adjusted to new realities in the last year. As the landscape changes, it’s important for sports bettors to keep up with the latest trends to ensure they continue to profit from wagering on sporting events. In this article, we’ll examine the latest trends and strategies relevant to the sports betting world as we know it today.
Legal Sports Betting
For decades, sports betting was illegal in most parts of the U.S. However, after a wave of progressive legislation in the 2000s, it became clear that the country was ready for a more relaxed approach to wagering on sporting events. In 2015, the Supreme Court struck down interstate gambling prohibitions in U.S. states, opening the doors for sportsbooks to operate in all 50 states. Since then, legal sports betting has become a reality throughout the country.
While it’s great that sports betting is now legal in all 50 states, that doesn’t mean it’s easy to operate a business in this highly regulated industry. State licensing and registration requirements vary by jurisdiction, but most sportsbooks must register with the federal government as interstate businesses. They also need to obtain a license from the state they’re operating in. Finally, they need to comply with all gambling laws in the state in which they operate.
The legal ramifications of operating a sportsbook are numerous, and you must be careful not to put yourself in the position of violating any laws. If you’re looking for a new location to set up shop in today, it might be a good idea to look at states where sports betting is legal.
Increased Transparency
One of the biggest recent trends in the sports betting world is increased transparency. For years, the majority of sportsbooks operated in secret, not revealing their odds, or whether or not they were taking bets on particular events. While the lines did sometimes see the light of day through various investigative reporting efforts, more often than not, they remained hidden, guarded closely by the sportsbook itself.
That changed in 2015, when the New York Attorney General’s Office published the results of an investigation they conducted into the business of gambling. The report revealed that nearly 70 percent of major professional sports franchises took part in a gambling scheme, with the Dallas Cowboys being one of the more notable examples.
The exposure received by law enforcement in investigating and exposing these forms of corruption and illegality can only be a good thing for the long-term health of the sports betting industry. If consumers know that these schemes exist, they can be sure their money is being handled responsibly and will continue to flock to legal sportsbooks to bet on their favorite teams.
Mobile Sports Betting
Along with increased transparency, another exciting development in the world of sports betting in the last year has been mobile sports betting. Thanks to companies like Square, which was purchased by TikTok for $76 million in 2019, and DraftKings, which was purchased by Facebook for $814 million in 2018, it’s now possible to place sports bets from the comfort of your phone. Also, thanks to companies like FanDuel and MyBookie, it’s now possible to place bets on sporting events without having to leave the house.
Mobile sports betting has exploded in popularity in the last year, and it’s likely to continue growing in the near future. With the ability to place bets from the convenience of your phone, fans can now follow games more easily, knowing their favorite team is ahead of schedule in the betting race.
If you’re looking for an exciting new adventure, or just want to make some extra cash, mobile sports betting is a must-try, especially if you’re looking for a no-risk opportunity with high payouts.
Increased Focus On The Youth Football League
One of the most interesting developments in the sports betting world in the last year has been increased focus on youth football. Professional and college football have long been popular among bettors, but it wasn’t until recently that wagers were placed heavily on high school games as well. That changed in 2019, thanks in large part to the National Football League implementing a new policy that caps the amount of wagers allowed on down-loaded games at half the amount of traditional, in-person games. While the policy is most clearly aimed at reducing the amount of gambling in the country, it also provides an opportunity for legal sportsbooks to step in and benefit from the new rules.
Many legal sportsbooks have launched online portals just for high school sports, providing fans with a better chance of placing winning bets while also curbing the amount of gambling associated with these events. The rise of legal sportsbooks that specialize in youth football means that we could see major changes to the way sports betting is handled in the near future, especially as more and more states decide to follow suit and legalize the activity.
More States Willing To Regulate Sportsbooks
It’s important to keep in mind that, while there’s been an overall loosening of restrictions on sports betting in the last year, the reality is that the industry remains highly regulated, with only a select few states actually allowing for open competition.
As more and more states legalize the activity, though, it’s important to remember that the industry will still be dominated by a handful of the country’s biggest sportsbooks, with the smaller, independent operators unable to survive in a fully legalized market.
For years, states have been hesitant to fully legalize sports gambling, fearing that organized crime would flood their markets and put them out of business. However, as the country continues to progress towards being 100 percent legal, that trepidation appears to be fading away, with more and more states choosing to look the other way rather than fight inevitable competition.
As the sports betting world changes to fit the new regulations, it’s important that sportsbooks continue to evolve with the times and ensure that they provide as much value for consumers as possible, adapting to the new environments and challenges they face.