In sports betting, the letter X is used to signify the outcome of an event is unknown or unprovable. This is usually the case when one of the teams is tied or there is a question regarding whether the sportsbook can get its money back from the winning team if they lose. For example, if a team scores a touchdown but the score is not settled, or at the end of the third quarter and the touchdown has not yet been officially confirmed as successful, the bet won’t be settled to the satisfaction of the sportsbook and thus X becomes relevant.
In the United States, the Professional and Amateur Sports Protection Act (PASPA) was passed in 1992 and gives state governments the power to regulate sports betting. PASPA gives legal cover to states that choose to legalize sports betting and defines the types of professions that are allowed to engage in that business.
It’s important to note that PASPA doesn’t explicitly mention fantasy sports or daily fantasy sports (DFS).
Fantasy sports simply means you’re playing the role of a professional or amateur sports team owner, essentially creating a team of real athletes and placing wagers on the outcome of those teams’ games. Think of it as a combination of fantasy football and sports gambling with the added complexity of daily fantasy sports where you can enter contests and make daily wagers.
Fantasy sports betting originally came about as a way for people to play with friends and family while also making a small wager on the outcome of some of their favorite sports teams. It essentially combines the fun of watching games with the excitement of competing on the side.
Since fantasy sports were technically illegal in most states prior to PASPA being passed, most fantasy sports enthusiasts were forced to play on the Internet where they could legally wager. Today, however, you can find fantasy sports in just about any state-regulated sportsbook around the country. If you’re looking for a place to legally play fantasy sports, it’s best to check with the state licensing department for the relevant authority in your state. Some states, like New Jersey, also legally require you to have a physical location where you can accept wagers from residents.
Daily Fantasy Sports (DFS)
Daily fantasy sports means you’re playing the role of a professional or amateur sports team owner, creating a team of real athletes and placing bets on the outcome of those teams’ games. The idea behind daily fantasy sports is to give you the ability to play against the odds and to play when you’re not feeling particularly confident. If you place a wager on a game and the outcome is in the favor of your team, it’s essentially a money maker.
Like fantasy sports, daily fantasy sports originally came about as a way for people to play with their friends and family while also taking the guesswork out of picking players and placing wagers on some of their favorite sports teams. It essentially combines the excitement of gambling with the enjoyment of rooting for your favorite team.
Since DFS were officially legalized in the United States in 2010, a lot of kinks have been worked out in terms of regulations and policies surrounding the industry. Today, you can find daily fantasy sports in just about any state-regulated sportsbook around the country. If you’re looking for a place to legally play DFS, it’s best to check with the state licensing department for the relevant authority in your state. Some states, like New Jersey, also legally require you to have a physical location where you can accept wagers from residents.
Unpredictable results are a result of either a game that ends in a tied score or one that goes into a sudden-death overtime with no winner clearly established. When this happens, the bettor’s wager is considered a loss because there’s no way to know for sure which team will win the game. When this happens, the sportsbook basically has to settle up with the betting partner they were riding with initially. You’d think this would be a fairly common occurrence given that most sportsbooks house a large number of bets on a variety of games and scenarios, but it happens more often than you’d think.
For instance, take a look at the 2018 NBA Finals. The Cleveland Cavaliers and the Toronto Raptors tied the series at 3-3 before heading to an overtime period where neither team scored and the series remained tied at 4-4. Even though the betting partners were content to let the money ride with them in this instance, it’s not a great feeling to be on the wrong side of a pair of nines in what can only be described as a tie-breaking situation. In such a case, the results are considered unpredictable and thus the bettor loses his or her money. This is one of the primary reasons why most sportsbooks don’t like to accept wagers on events that end in a tie.
Luckily for the bettor, ties are more common in sports than you’d think and most sportsbooks are built with tie-breaking procedures in mind. For example, in the case of the 2018 NBA Finals mentioned above, if one team scores a first-quarter overtime point but the other denies the goal, the game would become official in the sportsbook’s favor and they could collect on the wager. The same goes for 3-point goals in basketball. If there’s a question as to whether or not the ball crossed the plane, the goal would be confirmed as successful and the bettor would win. This is why, in general, it’s best to avoid wagering on events that have an unpredictable result.
In the case of a 4-team, double-header baseball game where the top two teams in each division qualify for the playoffs, things are a bit more complex because there are actually 32 possible outcomes. In the event of a division or league championship being decided by a walk-off home run, for example, the result is completely unpredictable since there’s no way for the sportsbook to know which team will come out on top. In this case, the sportsbook would have to wait until the following day to find out if their prior wager was successful or not.
It’s important to note that in some cases, particularly in the NFL where games can end in a tie, the wagering partner is not necessarily entitled to the entirety of their wager. In most cases, bookmakers have a policy of giving the winning bidder half of their winnings back. This is due to the fact that they had to make good on their wager regardless of whether or not the result was favorable. They also have to return the other half since the other party is considered the “borrower” of the funds in the wager. It would suck to lose $5 and have to give back $10 because the game ended in a tie. In cases like this, it’s a good idea to consult the sportsbook’s policies regarding these types of situations. They’ll have a tie-breaker procedure for just such occasions.
At the end of the day, the only predictable result in any sport are those that end in a clear victory for one team or the other. This is why it’s important to do your research before placing a wager on any sporting event and why it’s generally a good idea to avoid betting on events where the result is uncertain. Even though ties are common and most sportsbooks are built to handle them, they’re still considered bad luck for the bettor.