Sports Betting

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sports-betting-board-2Sports betting is a pastime throughout much of the world. It is a recognized and legal industry in all of Europe and many other countries with ties to it. One exception to that, however, is the United States where sports betting options are fairly limited. Standard single sports betting is only legal in one state; Nevada.

Sportsbook Reviews

Delaware is the only other state where sports betting is legal, though it is pretty limited. Players in Delaware may only buy NFL parlay tickets with three or more teams included. No other sports are offered here. Below we have compiled several helpful articles and resources regarding sports betting and fantasy sports.

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Professional and Amateur Sports Protection Act

The Professional and Amateur Sports Protection Act (PASPA) was passed by Congress in 1992. It stopped the spread of sports betting by exempting just four states; Delaware, Montana, Nevada, and Oregon. Each of these states had some form of sports betting in the 20 years prior to the law being enacted. PASPA grandfathered these states in, but only for the forms of sports betting that were previously spread. These states were not able to expand existing forms of betting, as Delaware found out in 2009 when the sports leagues challenged its attempt to offer full sports betting in federal court.

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Nevada Sportsbook Rules

Nevada is one of the most popular states offering sports betting and consequently has, by far, the most sportsbooks in the United States. It has offered legal sports betting for more than 60 years. All professional sports and many amateur ones are allowed. Since the beginning, these types of establishments had to pay a 10% tax on sports action, so they charge the same amount in vig. This means that when wagering on sports in Nevada, you will be paying a 10% vig on your total bet.

Delaware Sportsbook Rules

Delaware offered NFL parlay cards in 1976 for a single year through its state lottery. This form of wagering along with full out sports betting returned in 2009, though it was shot down by a lawsuit. During this lawsuit, the supreme court ruled that Delaware violated the federal law, primarily PASPA. The state was then only able to offer parlay cards for NFL games, since that was the only form previously available.

Oregon Sportsbook Rules

In 1989, Oregon offered NFL parlay cards through its Sports Action product. It expanded to NBA in 1990. The only exception being that bets are not accepted on games involving the Portland Trailblazers. The NBA parlay cards were discontinued in 1991. NFL parlay cards were offered until 2007.

Montana Sportsbook Rules

Montana continues to accept fantasy sports bets through its lottery. NFL and NASCAR wagers are the only types of sports accepted. These are placed into a pari-mutuel pool.

Offshore Sports Betting Thrives in this Environment

While players in 48 states do not have access to brick and mortar sports betting, offshore sites have established very successful business models. These sites often offer poker and casino games alongside sports betting. Online sportsbooks spread all of the same products available in Nevada, including single sport betting, parlays, teasers, and pleasers. They often go beyond what is legal in Nevada which includes bets on Olympic Games, entertainment props, and political wagering.

Online Sportsbook Deposits

It is incredibly easy to deposit at online sports betting sites. Bettors outside the U.S. can use an ewallet, bank account, or credit card to fund a sports betting account. Americans can deposit by credit card and cash transfer services like Western Union and MoneyGram. It will ultimately come down to the company you choose to use.

Online Sportsbook Withdrawal Options

Bettors outside the U.S. can generally receive winnings by ewallet or bank account transfers. Americans are paid by check, cash transfer, bank wire, or credit card refund.

Nevada Mobile Betting

Nevada now offers mobile and online betting. Players must be located within Nevada at the time of the wager. Cantor Gaming, William Hill, Station Casinos, NV Sportsbooks, and Boyd Gaming accept wagers this way. Deposits may be made at participating sportsbooks. William Hill also accepts deposits at taverns located throughout Nevada.

Single Sport Betting

A single sports bet consists of just one outcome. Players must typically lay -110 for this type of bet. This means that for every $100 a bettor hopes to win, he must lay $110. These games involve point spreads, not outright wins for a team.

Moneylines

A moneyline is a wager that predicts the outright winner of a sporting event. Point spreads are ignored for these types of bets. The team more likely to win will require a lay and will be displayed as a minus number; for example -150. The underdog will have a plus sign; for example +150. A bettor taking the favorite (negative odds) must lay money, while the underdog bettor will win more money than he bets.

Parlays

A parlay is a ticket with two or more outcomes that the bettor wagers on. These may be point spreads, moneylines, or a combination of the two. Most sportsbooks offer parlays with up to 10 outcomes. This offers the bettor with a potentially higher return than single bets, given that the odds of winning a parlay are statistically lower.

Teasers

A teaser involves a wager where a player can add 6, 6.5, or 7 points to a football game or add 4, 4.5, or 5 points to a basketball game. These points are subtracted from the published point spread to give the player a bigger advantage for each game. A loss on any game makes the entire ticket lose. A tie will drop the payout by one team. Similar to parlays, for teasers the player may typically tease up to 10 games on a ticket.

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