When the Super Bowl kicks off this Sunday, millions of Americans will be watching for more than just football. They’ll also be placing wagers, sometimes thousands of dollars at a time. That’s because sports betting is now legal in most states and generating billions in revenue for the leagues, the teams and the bookmakers who are licensed to accept bets.
Aside from a few federal laws that prohibit sports gambling, individual states now have the authority to regulate and license betting shops. In the past, these operations were usually brick-and-mortar establishments, but online sportsbooks have emerged as a more convenient and accessible alternative. While online platforms offer a range of payment options, licensing and regulation are important factors to consider as you research your choice.
One of the most popular types of bets is called a straight bet, in which you place a bet on a specific outcome. For example, if the Toronto Raptors are playing the Boston Celtics and you think the Raptors will win, you would place a bet on the team with the higher winning percentage. Another common type of bet is a spread bet, in which you are betting on the margin of victory between two teams or athletes.
If you want to make a bet on a game that isn’t taking place in your home country, you can use an international sportsbook. These sites accept bets from players in all countries and have many betting options available, including live streaming of the event. Many of these sites are licensed in reputable jurisdictions and offer a wide variety of payment methods.
You can also place a bet on the total points for a game, known as an over/under bet. A bookmaker predicts the total number of points in a game, and the bettor can bet on whether the combined score will exceed or fall short of that prediction. If you’re betting on an Over/Under bet, remember that it’s never over until it’s over.
A word of caution: Before you put your money down, make sure to budget it. It’s easy to get swept up in the excitement of sports betting, but be careful not to overspend. Gambling is a dangerous and addictive activity that can quickly derail your life. If you’re serious about your sports betting, set aside a designated bankroll and stick to it. This way, you’ll be able to play out your variances without risking your house, your family, your job or your sleep. Also, don’t be afraid to walk away from a bad bet. Even a strong bettor that wins 55%+ of their plays will still go broke if they bet 10% of their bankroll on every play. So keep your hobby and your business separate, and your bank account, your relationships and your sanity will thank you for it.