No matter what sports season we’re in, you probably have a favorite sport you relish following. Maybe March madness college basketball, the NFL, baseball, hockey, golf, or soccer. Perhaps you would like to make a little bet, but many sports fans in the United States are leery of the legitimacy and legality of internet gambling. If you live in the United States, your legal sports betting options at brick and mortar casinos are limited to Nevada, and to some degree at Delaware racetracks ID Line GClub.
The Supreme Court has heard arguments on a New Jersey challenge which would permit sports gambling at its casinos and racetracks. If the court rules in favor of New Jersey, Gaming experts predict that most states will jump on the bandwagon to legalization, in order to fill state coffers with tax revenue.
If you’re unfamiliar with the particulars of how to bet on sports, the following describes how it all works:
Sports Betting Jargon
Before we get into the specifics, here’s a little jargon explanation to help you understand the process:
- Action – A term for all the betting activity that happens during an event.
- Handle – The total amount of money wagered on events.
- Spread – Giving one of the two teams points to even out the betting action.
- Sports Books – Establishments that take bets on sporting events.
- Juice – A percentage of the win taken from a bettor that won an even money bet. Sometimes called the vig, which is short for vigorish.
Types of Bets
There are many different types of bets. By far, football draws the most action with the biggest handle. The Super Bowl alone draws over $100 million in legal betting activity, and over three billion (that’s billion with a B!) illegal wagers. Now you see why states want a piece of the action.