If you enjoy wagering on sports events, then you’re in luck! The 2020 NFL season is here, which means sports betting is officially back. But what exactly is sports betting?
Put simply, sports betting is the wagering on sports events with the understanding that you’ll lose money if your team loses. You may also lose money if the point spread is in favor of your team. For instance, if the New England Patriots play the New York Giants and the Patriots win the game by 3 points, your wager will be worth 3 points. However, if the game ends in a tie, your wager will be worth zero points.
Why Are Gamblers Interested In Sports?
You’d be surprised how many people are interested in sports betting, especially when the game is close and the betting lines are spread. A number of factors can contribute to this interest, including the fact that athletes and sports teams are popular subjects for betting, as well as the fact that many sports betting-related laws have been implemented in an effort to protect amateur sports, as you’ll read below.
The Effect Of Modern Sports Betting Laws
The advent of the internet has made it possible to bet on sports in a whole new way. Thanks to modern U.S. and state sports betting laws, which were established in an effort to regulate and legitimize sports betting, you can now place bets from the comfort of your home. Places like DraftKings and FanDuel have made it easy for people to find the odds they’re looking for and place wagers on the games they love.
These laws include:
- A limit on the amount of money that can be wagered
- Prohibition of fixed-odds betting (meaning you can’t lay down a bunch of money on an event with the understanding that the odds are going to be the same for the rest of the bettors)
- A ban on accepting bets from outside the state (or country)
- An outright ban on betting on games involving your alma mater
- Prohibition of advertising on TV during games (this one may sound like it’s aimed at the casinos, but it’s not – it’s aimed at freeing up advertising during the game so you have more opportunities to place wagers)
- Licensing of all sportsbooks and wagering websites
- Online gaming operators must be licensed and regulated by the government
- Comprehensive anti-gaming policies (including policies on handling problem gamblers and preventing underage gambling)
The Appeal Of Sports Betting For Amateurs
Although most professional gamblers avoid sports betting, due to the fact that it’s illegal for them to conduct such business, there is a contingent of sports enthusiasts whose interest in sports betting is mainly due to the fact that most games are considered to be an exhibition or a tune-up for the pros. So it’s like practice, except you don’t have to pay the athletes!
For instance, people who enjoy playing fantasy sports on a regular basis may find value in wagering on games during the week, as they give them a chance to practice for their fantasy teams. Or, for that matter, if you’ve got a favorite collegiate sports team and you want to give them some extra incentive to win their upcoming games, why not wager on them? You’d be surprised how many people would be interested in doing that – if you’re not, then maybe it’s time to consider becoming a sports agent or manager!
How Do I Place A Sports Bet?
There are a number of places you can go to place a sports bet, including online sportsbooks and local casinos. But no matter where you place your wager, you’ll need to make sure that you are legally able to do so. Also, make sure that you are aware of the limits that the law places on how much money you’re allowed to wager. Many times there are limits based on how old you are, where you live, and how much you make.
To ensure you’re not breaking any laws, here are some tips on how to place a legal sports bet: