It seemed like a few years ago when online sports betting was not exactly what we would term legal on US soil. Thankfully, it all seems to be in the past now as online sports betting is available and legal in most US States.
Several states like Colorado, Illinois, Pennsylvania, Michigan, and many others already practice legal online sports betting with FanDuel after the Supreme Court made a ruling making it legal back in 2018. Efforts are underway to make online sports betting legal in all states of the United States.
If you’re wondering how to bet on sports legally online, read this article to the very end.
Understanding The Basics Of Legal Sports Betting
Before you dive fully into doing some legal online sports betting, there is a need for you to understand the basics of engaging in that act. While this may seem pretty oblivious to some people, it is very beneficial and can help you become a successful and lucrative sports bettor fast.
You will not fully maximize your chances of winning if you don’t understand the basics of sports betting. Basics like reading sports betting odds, placing sports bets online, understanding sports betting markets, common betting mistakes to avoid, and so on. All these are very important because you have to learn to walk first before running – that is just the way life works.
Sports Betting Market: Different Types of Sports Betting
One of the thrills of online sports betting is that you have many options you can make selections from right from the comfort of your home. Some of these options may be very simple and easy to understand. Others may be quite complicated and not easy to grasp by a non-experienced bettor.
If you are new to sports betting, it is advised that you start with options you know well and, with time, try out some options you are not familiar with. If that will hurt you and your pocket, you can stick with what you know.
Here are the different types of sports bets you should know to identify which one works best for you when making selections.
- Moneyline: Moneyline bets are basic bets and often the starting point for those new to betting. To place a bet on Moneyline, all you need to do is to select what side you think will win that event (matchup, game, race, and so on).
- Totals: This type of bet is also known as the over/under bet. It is also another great starting point for beginners as they need to think if the total combined score, goals, or runs of a game will be more than (over) or less than (under) the total projected by the bookies. Normally, the betting odds for totals on both sides are determined by the teams’ ability to produce an outcome in those regards. However, it is safe to say that they can also move in response to betting actions.
- Spreads: This is another popular option you can choose from. The Spreads, in a nutshell, is a margin of victory or loss that you must account for in your stakes. Another way to look at it is that this type of bet allows you to apply your knowledge on how a victory or loss will go – a margin between the scoreline. That way, you can even root for a team even if you expect them to lose the game. This option also goes by different names in different sports like Handicap in soccer, run line bet in baseball (MLB), and puck line bet in hockey (NHL).
- Parlay: In this type of bet, you can combine two or more outcomes of a single event on a single slip. This offers greater returns, but then, you must be right on all selections to win.
- Props: This type of bet revolves around a player or team’s performance during a game or the whole competition. Props are also called Specials by some bookies. Prop betting is very similar to fantasy betting. Betting on props means you are betting on something that might happen or not. This is why many new bettors choose this option as a good starting point.
- Teaser: Teaser is another great betting market you should consider. This betting option allows you to move the point spread on more than one game. Playing teaser means you have a higher chance to win since you would be adjusting the lines in a direction that favors you. However, you should note that it lowers your potential payout. Since winning a modest amount is better than nothing, you should try out this option sometimes.
Events You Can Bet On
Another thing that makes sports betting interesting is that you can bet on almost every official sporting event. So, you can always shop around for your favorite sport to place your stakes. Some popular sports you can bet on are:
- College Basketball
- College Football
Events That Are Illegal To Bet On In The United States
It is no news that every state has its own rules and regulations for sports betting. This accounts for the non-uniformity among different bookies and markets. However, there is one area of common ground – what is illegal or not allowed to bet on. The following events are illegal to bet on at all state-approved bookies in the United States.
- Sporting events involving athletes below the legal age – 18 years.
- High school sporting events
- Weather events
- Outcome of reality TVs
- Award shows like the Oscars
- All elections conducted in the United States; presidential, state, local, etc.
While betting on school sporting activities is not permitted in the United States, it is important to say that some states permit people to bet on college sports. However, you have to pay close attention to the wagering rules. For instance, most states that permit legal betting on college sporting events do not allow in-state betting. There are some exceptions, though, as Pennsylvania does not have such restrictions.
Sports betting is not much of a big deal these days. Thankfully it is now legal in most parts of the United States. All you need to do now is to make sure it is legal in your location before looking for a trustworthy bookie to sign up. After doing these, you can then sit and enjoy the sports betting experience.