When sports fans tune into the Super Bowl on Sunday, they won’t be just watching a game—they’ll also have money on the line. In fact, Americans wager billions on the event every year. And since the Supreme Court lifted a ban on legal sports betting in 2018, the industry has exploded.
While many people think that sports betting is all about picking winners and losers, it’s actually a lot more complicated. In order to make money, a person needs to understand the different types of bets, learn about the odds, and be willing to walk away from bad bets. The key is making small, smart bets that add up to a profit over the season.
The most common bet is the straight bet, in which a bettor simply puts money down on one team to win a game or fight. Then, there are the spread bets, which use a number that handicaps teams based on the expected margin of victory. The favorite “gives” points, while the underdog “takes” points. This is done so that the bets aren’t all won by teams with identical records. The point spread can vary between sportsbooks, and it’s important to shop around for the best lines.
Another way to find good bets is through futures bets, which are placed on upcoming events. These bets are usually available all season long, but the payouts are typically lower than those on regular money lines. For example, a bettor can place a futures bet on a team to win the Super Bowl next year, but the winning bet won’t pay out until January or February.
A person’s odds of winning a bet depend on a number of factors, including how much money they bet, their knowledge of the sport, and how well they follow news. However, it’s also important to remember that the integrity of a sporting event is impacted by all sorts of things, from point shaving (when players intentionally miss shots to affect a game’s outcome) to overall match-fixing.
In the US, sports betting is illegal in most states, but it’s been popular in Nevada since the 1970s. Favorable laws in the 1990s made it easier for sportsbooks to operate, but in 1992 Congress passed PASPA, restricting legal sports betting to three states—including Vegas. Then, in 2018, the Supreme Court lifted that ban, allowing each state to decide whether or not to allow legal sports gambling.
The sports betting industry is still in its infancy, and it may be a while before it reaches its full potential. But it’s already changing the way we watch and play sports. For example, the Super Bowl will feature ads for new sports betting apps and sites, which are backed by celebrities and professional athletes. The ads may be controversial, but experts believe that sports betting is here to stay. Ultimately, the decision to place a bet will always come down to a person’s personal choice. But for those who are ready to take the plunge, sports betting can be a profitable hobby.