Sports Betting – How to Make a Profit in Sports Betting

Although sports betting has become a popular hobby for millions of people, there are many risks involved with placing bets. Some people try to make money from it while others just enjoy watching the contests. There is a large learning curve, however, and only a select few can make a living from it long-term. Even so, there are many opportunities for newcomers to make a profit in the sport, and the Daily Mail estimates the global sports betting industry at three trillion dollars per year.

Florida’s state legislature approved a bill allowing for sports betting, but the Seminole Tribe controls the state’s gaming industry. While lawmakers expressed a desire to work with the Tribe, a lawsuit was filed against the law after it was passed. Similarly, in Atlanta, pro sports teams have been pushing for legalization of sports betting. Georgia’s legislature passed a regulation framework for sports betting in 2021, but the legislation doesn’t permit the sport to open until 2023.

While many states have passed legislation allowing sports betting, the overall gaming industry hasn’t been immune to consolidation. The NFL, NHL, and Eldorado have all invested in sports betting, with DraftKings and FanDuel, the online-only DFS turned-sportsbook, partnering with Boyd Gaming. Other large companies have partnered with DraftKings and FanDue, a DFS-turned-sportsbook. ESPN, Turner Sports, and Caesars Entertainment have co-exclusive link integrations with FanDuel and DraftKings.