To many people, sports betting is considered to be the ultimate way to pass the time while waiting for kickoff. However, state laws surrounding sports betting can be rather complex, and it’s important to understand how many states are willing to allow this type of wagering.
The Basics
To begin with, not all forms of sports betting are the same. Some states explicitly forbid wagering on sporting events. Other states, like Nevada, have a rather laissez-faire approach to sports betting, allowing individuals to wager on virtually any sporting event they choose. While it’s usually legal for individuals to make sports wagers in Nevada, it’s imperative to understand the terms and conditions under which these wagers can be placed.
Where Can I Bet?
As a prospective sports bettor, it’s important to know where you can place a wager, and which states are willing to have your specific wagering venture. One of the best resources available for finding this information is the Internet, and a simple Google search for “sports betting (state name)” will turn up dozens, if not hundreds of results, providing detailed information about the legality of sports betting in that state. Moreover, this information can be cross-referenced with maps, offering bettors the ability to visually pinpoint the states where their chosen sports betting venture is permitted.
Can I Research My Favorite Team’s Stats?
Another important factor to consider when picking a new state to bet in on is whether or not you’ll have the ability to easily find the information you need about your team. If you’re not familiar with online sportsbooks, researching a team’s statistics can be tedious, since you’ll have to log in to your account and search for the relevant information. However, the good news is that most online sportsbooks make this process much easier, providing access to in-depth information 24 hours a day, seven days a week.
What About Parimutuel Wagering?
One of the more unique aspects of Nevada sportsbooks is the option to wager on horse races, which the state promotes as an integral part of its tourism industry. While this option can be fun, for the most part, it’s considered to be illegal in most other states. Moreover, it’s important to know that parimutuel wagering is the primary form of sports wagering in Nevada.
How Many Tickets Can I Purchase?
Another factor to consider when selecting a state to bet in on is how many tickets can be purchased for the given event. Some states have a limit on the number of tickets that can be purchased, while in others the number is essentially unlimited. The best approach is to find out which type of event is being played in your state of residence, and how many tickets are available for that game. If you don’t have access to this information, it’s usually best to avoid betting in states where tickets are hard to come by.
What Kind Of Compensation Does My Bookmaker Offer?
It is also important to research which type of compensation your chosen bookmaker will offer for winning or losing wagers. Most sportsbooks offer winners different ways to earn more money, such as offering complimentary drinks or allowing complimentary withdrawals. You should definitely investigate this aspect of a bookmaker’s offer before committing, as some bookmakers are more generous than others when it comes to compensating winners.
Can I Contact The League To See If My Team Is In The Championship?
In some states, there are restrictions on the number of times you can ask about the status of a team, before you have to take a break from making inquiries. It’s often best to contact the league directly, as you don’t want to run into any trouble for asking too many questions.
Can I Bet On My Mobile Phone?
If you’re a fan of betting on the go, it’s important to know which states are willing to allow this type of wagering. Most mobile phone companies, including AT&T and Verizon, offer online sportsbooks, which makes it easy for customers to place wagers from their phones. However, some smaller mobile phone companies, such as T-Mobile, do not offer this feature, so it’s best to check with the carrier you’ll be using to see if it’s supported in your state.
What Are The Legal And Tax Implications Of Sports Betting?
As mentioned above, not all states are created equal when it comes to sports betting. Some states, like Nevada, are very open to this type of wagering, while in other states it’s generally considered to be illegal. It’s important to know that, as an individual who invests in sporting events, you’re considered to be a business entity in some states. This means that you’re required to register with the state, pay taxes, and obey all corporate laws, just like any other business. In these states, you’re also considered to be placing wagers on behalf of others, under the regulations of a “lay-betting” operation. If you’re looking to place a sizable wager, it’s always best to research the legal and tax implications of sports betting in your state of residence.
To help you make the right pick for where to play, we’ve compiled a list of the best legal states for sports betting. To start, here are the top ten states for sports betting:
#1: Nevada
Nevada is the golden state of sports betting. This state actually encourages wagering, providing individuals with some great legal betting opportunities and also allowing businesses to operate, without legal problems. If you’re looking to get into sports betting, Nevada is the place to be. Moreover, since 2000, over 140 legal sportsbooks have opened their doors, welcoming wagering tourists and offering locals a chance to place bets on their beloved sports teams.
A huge part of the allure of Nevada is its variety of gambling opportunities. Not only do sportsbooks and casinos offer traditional blackjack, roulette, and dice games, but state-operated lottery games, as well as online poker sites, continue to grow in popularity.