Sports Betting Regulations
There are many different sports in which you can place a bet, but the NBA and College Football are among the most popular. These games often feature more sports betting options, such as the NBA playoffs, which draw more wagers than the other two. Baseball is no longer the most popular sport in the U.S., but it still has a loyal following. NHL fans also love to place bets on hockey games, especially during the Stanley Cup playoffs.
While there are laws in place to protect fans and prevent manipulation, these regulations may not be enough to stop the activity. In some cases, sportsbooks may raise the alarm if suspicious activity is uncovered. In such cases, alerts usually involve a sub-sport that is played in a faraway country, so as not to offend their corporate partners. In 2017, the International Betting Integrity Association issued 39 alerts in the U.S., although not involving major leagues.
While New Jersey has taken the lead on legalizing sports betting, the major sports leagues sued the state and federal governments over it. The lawsuit was filed in 2014, when the new NBA commissioner, Adam Silver, took over from David Stern, and argued that legalizing sports gambling is not only safer than rampant illegal sports betting, but also beneficial for leagues. The US Supreme Court declined to hear the case, so the current ban on sports betting remains in place.
As the gambling industry grows, states are looking to regulate the activity. While states like New Jersey and Pennsylvania are legalizing sports betting in some way, other states are not as ready to implement it. Texas, for example, is unlikely to legalize sports betting anytime soon, but it could happen in the next few years. Because the Texas legislature meets only in odd-numbered years, there is a good chance that sports betting will be legal in the state.
If you’re not comfortable betting on an individual game, try a futures bet instead. NFL Super Bowl futures are popular because you can place your bets before the game starts. In this way, you can lock in a good price and wait for the big game to kick off. But keep in mind that the payout will be lower the longer the game goes on. If you win a football bet, you won’t see the payout until January. Conversely, if you lose, the money will be cleared before the Super Bowl.
While the United States has a regulated sports betting market, there are still a few flaws to consider. For one thing, state regulators must approve novelty wagers. Most states do not allow for such types of wagers. But offshore sports betting sites are open to all kinds of bets, including political bets and wackier Super Bowl props. If you’re in New Jersey, you can legally place a bet on the Super Bowl without breaking the law.