Sports Betting 101
If you’re looking to place a bet on a sporting event, you’ve probably heard of the terms favorite and underdog. Obviously, the favorite has the better chance of winning, so you’ll want to bet on them. On the other hand, betting on the underdog will result in a lower return, but will also mean more risk. In this case, you’ll want to stick to the favorites, because they’re the safer bets.
The first type of sports betting is called the total line bet. In this type of bet, you’re betting on how many points both teams will score in the game. In other words, you’re predicting the final score of the game. A total line bet is usually placed half-way through the game, and you can bet on the final score to win. The key to success is to have an accurate prediction of the end result of the game.
In the United States, PASPA, which banned sports betting, has been declared unconstitutional. In response, former Utah Sen. Orrin Hatch introduced the Sports Wagering Market Integrity Act of 2018 (SWMIA) in lame duck session. The bill sought to establish a clearinghouse for state-regulated sports betting markets, while also creating federal standards. Unfortunately, this bill did not have any legs and ended up being symbolic. On the other hand, the House Judiciomber held a hearing on the legalization of sports betting in America, with several members of the committee expressing their support for sports gambling.