In the past five years, Americans have enjoyed more freedom around sports betting than before. That’s due to a Supreme Court victory by New Jersey in May 2018, and it has revolutionized the gambling industry.
Now any state can legalize sports betting, and 22 states have made the move to do so. Whereas Nevada was once the giant for betting, now New Jersey, the early adopter of new laws, is king.
According to Goldman Sachs, the online sports betting market could grow by 40% over the next ten years. More and more Americans are getting involved with the excitement, and younger audiences are playing too.
What are the popular sports to bet on?
One of the biggest sports in America in undoubtedly football, and it’s also the most popular for betting. This is because even casual sports betters like to take part on big game days.
It’s expected that more than 45 million Americans will bet at some point during the current NFL season. That’s up 36% on last year alone.
The SuperBowl is one of the biggest events on the football calendar, and millions tune in worldwide every year. The NFL, once against gambling, have realized the revenue it can bring in.
Along with people betting on NFL games, ads by gambling companies are now showed in the ad breaks. The NFL expect to raise over $1 billion in revenue over the coming decade, as a result of sports betting.
Although there’s a limit of six sport betting commercials per game, it still creates awareness. This will encourage more people to place bets on their favorite teams for a thrill.
Those who previously engaged in fantasy football are likely to put their money where their mouth is. Betting lounges will be present at some stadiums, in states where gambling is allowed.
Another sport that Americans love to bet on is basketball. When the NBA season is on, from November to March, people make thousands of bets on top teams.
In fact, most figures put March Madness far above SuperBowl in terms of betting revenue. This is a single-elimination tournament that takes place in March, featuring 68 teams from the NCAA.
Gaming analysts reckon that around $15 billion is placed in bets across the 50 states during this time. OLBG covers the NBA here, if you’d like to get a piece of the action.
Anyone for tennis?
The International Tennis Federation puts on around 93,000 matches as part of tournaments each year. Just like any other sport, people love to bet on different players and outcomes.
Consider that more than 1 billion people tune in to Wimbledon tournament, and you can imagine how many bets. Currently, there are good odds-on Dominic Thiem to be an outside winner at Wimbledon next year.
Big on baseball
It seems like baseball takes over from football in the off-season. THE MLB World Series attracts around 8 million viewers, so while it’s less than football, it’s still big business.
Experts argue that baseball is not as easy to bet on as other sports. It’s certainly not as easy as March Madness, which is a beginner gambler’s dream.
In order to have some success betting on baseball, it’s important to arm yourself with information. You need to do some statistical work on home runs and batting averages and learn what players weaknesses are.
Those who truly love baseball will certainly enjoy betting on games, but betting isn’t as fun for beginners.
Cutting through the ice
If you enjoy knowing some strategy for betting, then ice hockey can be very rewarding. Here money-line bets, which is basically betting on your preferred team, are popular.
People who watch hockey are often enticed into over/under bets. The total number of goals for a game is usually set between 5 – 6.5, but sometimes you can get changes.
You might get better odds if a certain result looks more likely.
Types of bets
For those new to sports betting, it might seem like you just bet on your favorite team or player to win. That’s common, and it’s called a straight bet but there are many other ways to make a bet.
A total line bet is when you bet on the final score, number of points, or goals. You make these before a game, or sometimes at half time if the bookie allows.
Parlays are a great way to up the ante. This is when you make several wagers but link them. Each one has to win to keep it going. Win them all and you stand a chance to win big.
Join the fun
Whether hockey, Formula 1, football, boxing or track cycling, you can place sports bet now. To make it easy, you can play a straight bet, and when you become more familiar, look into spreads.