Why Now is the Best Time to Get into Sports Betting
By Space Coast Daily // June 5, 2022
If you’re a sports fan in the US, you will most certainly have noticed that there has been a dramatic increase in betting-related content and references to the betting industry across most sports media.
This may seem unremarkable to visitors from other nations, but in the US, where sports betting has long been outlawed, it marks a dramatic change in sports culture. Previously, sports betting was the domain of the Vegas casino or the shady world of illegal bookies.
That has all changed now. Every day, millions of US sports fans are able to bet legally at venues or online across many US states, taking advantage of welcome offers, looking for the best markets and bets, and signing up to sports betting reward programs.
It is probably true to say that there has never been a better time to get into sports betting – although there is also reason to be cautious.
The rise of sports betting
Outside of Las Vegas, and with only one or two minor exceptions, sports betting was basically illegal in the US until the spring of 2018.
Although the legal situation was complicated, the main foundation of anti-gambling laws was the PASPA Act of 1992 – this made it illegal to offer betting on a sports event. But this position was already weakening by the time a case went to the Supreme Court in 2018.
In May of that year, the Court effectively overruled the PASPA Act, asserting that it was a matter for individual states to decide on whether they would legalize sports gambling within their territories.
The state of New Jersey, which had been involved in the original case, along with Pennsylvania, moved quickly to legalize and at the time of writing, 34 states have legalized and launched sports betting.
US sports betting fans are effectively in at the start of a major new growth sector and that means that there are opportunities for shrewd customers.
While some US sportsbooks have drawn on the experience of long-standing European operators, it is fair to say that not all operators have the same level of expertise when it comes to setting odds and choosing markets. Mistakes happen and poorly judged odds can be offered, and those who know their betting can capitalize.
Above all, there are opportunities for experts in a particular sport to turn that expertise to good use. It isn’t easy to make a profit, but for those who have developed an in-depth understanding of a certain sport or league, the arrival of sports betting, whether in person or online, presents some interesting opportunities.
Much of the traditional opposition to sports betting came from the professional leagues themselves. But since the 2018 decision, a lot of that opposition has melted away.
From the NBA to the NFL, sports organizations and franchises are embracing sports betting – and even incorporating betting odds into their coverage. And the advanced statistical nature of US sport lends itself perfectly to betting.
A lot of the groundwork for the sports data explosion was laid by the success of the Daily Fantasy Sports companies in the 2010s, and the result is that modern sports betting fans have access to a wealth of data on their favorite sports, along with extensive coverage on social media and 24/7 sports networks, which is increasingly accommodating the needs of sports bettors.
As sports betting continues to spread across the US, there has been a scramble on the part of operators to establish themselves, particularly in the most populous, sports-mad states.
In order to establish their market share, bookmakers are having to provide ever more competitive and attractive bonus packages to customers, and in some cases, are happy to lose money or to cut their margins – at least in the short term – in order to secure the biggest possible market share.
For the shrewd sports betting fan who is prepared to study the fine print of these promotions, this signals an opportunity to take advantage of the most favorable promotions at a time when growing market share is considered more important by sportsbooks than maximizing their betting margins.
A note of caution
While the spread of sports betting presents some opportunities, it is also important to note that there are concerns. Sports betting, like any form of gambling, can be addictive and unwary betting customers can find themselves addicted or in serious financial difficulty.
That’s why it is important to remember the golden rule of sports betting – never bet with money that you cannot afford to lose.
You should always keep strict control of your betting, monitor how much you are spending, and set limits in terms of bankroll and time so that sports betting does not become dangerous. By betting responsibly, you can remain safe and maximize the fun of betting on sport.