In May 2018, the United States Supreme Court struck down the federal ban on sports betting. This cleared a path for legalized sports gambling allowing different states in the country to formalize it as they wished. So far, 20 states have signed bills into laws enabling people to bet on the sports that they watch the most. The activity is expected to become legal in a number of other states during the year while some have no rulings in sight on this front.
Here is a map to depict the current status of sports betting laws in various places:
What is Sports Betting?
Not like it needs a definition, but sports betting is an activity that involves a lot of guessing. People who bet on sports are predicting sports results and then placing a wager over it. The sports betting industry has grown extensively and although there are no official figures, sports betting can see millions of dollars being earned and lost at one time.
The industry is witnessing a rapid growth with almost 10% CAGR with one estimate putting the market worth at almost $125 billion in 2018. 49% of sports betting takes place in the Asia-Pacific region. Here, betting goes beyond traditional sports and involves other activities like underground cockfighting, horse races and dog fights etc. In America, the popular sports that witness betting are football, basketball, hockey, boxing and auto-racing among many others.
Sports betting is a term that has become synonymous with something that sounds illegal. In some parts of the world and even inside the US, it is. However, after the Supreme Court ruling, many states are reversing their bans on sports betting. This is opening avenues for people looking to place wagers on various sports and making money on predicting the rights outcomes.
The Top Sports Betting Sites Where You can Place Your Wagers Online
Sports betting is exciting if you are someone who can call the shots effectively. However, people still take chances and get lucky at times. There are several websites out there today that provide an opportunity for bettors to place wagers on different sports. These platforms display complete sportsbooks which have all the necessary information you need to place a bet and much more.
Over the years, sports betting has grown to an extent that the same websites which allow users to place bets on various games, also enable these players to try their luck at political elections, reality show contests and even leading award shows like the Golden Globes and Oscars. The winnings and their respective ratios can vary however it is now all available through a single platform.
Knowing which website is reliable can be challenging. After all, wherever there is money involved, you have to be careful of a lot of things. And, it’s not just that but a host of other features that come together to make a sports betting website attractive. Users want to have everything in one place and there are quite a few websites out there that do just that.
Launched in 1998, BetDSI has become one of the most trusted platforms for all kinds of betting. In sports, it provides options for all major international as well as local US events. From basketball to baseball, football and almost every other sport around the world. With a claimed clientele that is spread across 140 countries, BetDSI is the platform that offers a 100% sign up bonus to its customers. It is a user-friendly application where betting options remain open all game long. Moreover, it’s not just sports but also entertainment, political and other big happenings that users can bet on easily and reliably.
Although a relatively new entrant in the market, 22Bet has quickly risen to the mainstream by offering some exciting features. It has several betting options, 24/7 support to assist bettors, simple and reliable withdrawals. Live wagers throughout the game and an easy to understand interface to top it all off. The platform is available in more than 50 languages. It has the added benefit of providing e-sports betting with great bonuses. The site offers a 100% bonus on the first deposit but the limit is set at $122. 22Bet has more than 1000 games and sports for players to choose from.
There are several other comprehensive and easy to use websites which are trustworthy. However, some of the leading ones like Betway, MoPlay and 10Bet don’t accept players from the US. If you are looking to get started though, BetDSI and 22Bet provide all the options that you’ll need to do just that.
8 Successful Sports Betting Tips and Strategies
Knowing where you can place your bets is just the start of the whole thing. The most crucial part is to understand how to do sports betting right. We put together some of the top sports betting tips and tricks that can help you get the best out of this activity. Here are some of the things that you should keep in mind and practice while betting on any of the sports that you want to:
1. A Little Research Goes a Long Way
Most bettors of a sport at any given time are just taking wild guesses in light of what they think may be right. This is less of a bet and more of a gamble. It also means that with even a little bit of research, you can get ahead of these people in beating the odds. Intuition and experience may also play a role in a successful bet, but proper fact-finding will put you a step ahead. A few effective ways include reading sports dedicated newsletters, know a credible website that offers bankable insights on various games and keep a record of your choices for more informed decisions.
2. Control Your Bankroll
Always have a budget set for your betting run. Going overboard is seldom a good idea. Having a bankroll helps you control the amount spent on betting. Moreover, not all of your bankroll is open to spending. Make sure you set a limit which according to experts is just between 1% and 5% of the total amount. Big winnings may incite you to go crazy but the trick is all about controlling that urge.
3. Use a Staking Plan
A staking plan is what helps you control your spending limit during any activity that involves placing wagers. It is nothing but a set of rules that govern how much you should spend during each session. There are a lot of benefits to a staking plan which include you being less likely to chase losses during a bad run, increase the likeliness of making rational betting decisions and reducing the chances of losing money made during a good run.
4. Be Wary of Scams
There has always been a threat from scammers in sports betting. Even websites themselves offer lucrative discounts and deals only to give a shady offer at the end. Now, with the rise of cybercrime, there is even more of a threat. Make sure that you do proper research to allow yourself to be safe from unnecessary harm.
5. Choose Your Bets Well
Sports betting like other wager-based sports require carefulness on part of the player. Yes, if you bet big you can possibly win big, but the chances of that happening are remote at best. Most players who go with this strategy end up losing lots of money. It is better to place a few selective high-quality bets that ensure winnings rather than just making a wild guess and throwing away everything you have.
6. Compare Odds on Various Websites
For each event, the odds being offered by various sports betting sites can differ. The variation may be minute but it can translate to significant winnings overall. This is why comparing the odds giving on different sites for each sporting event can matter. Bet for the highest odds but be careful not to go all out or else the losses can mount just as quickly as the winnings.
7. Keep Track of Your Previous Betting Activity
Betting is like any other aspect of life and requires financial management. Most people don’t bother to keep track of how much they are betting and then winning or losing as a result of it. This is a mistake because it makes unclear how much has been spent and whether or not a player is sticking to the budget. In the long run, this carelessness can be damaging.
8. A Few Extra Sports Betting Tips
There are a lot of tips that can help when betting but a lot of them are pretty basic so we put them together under one banner. These include learning the lingo, ignoring personal preferences when betting, making sure you don’t lose morale when losing or get overconfident when winning. Also, try to experiment carefully at times and take regular breaks because an excess of anything is bad.
Sports betting has been popular for several years and it is getting even more famous with various states now legalizing it. If you are someone who takes part in placing wagers on various sporting events then reading a little bit about it will boost your chances of making it big. Small but careful steps result in greater achievements and this applies to everything in life, even sports betting.