Sports Betting Glossary
Despite the many challenges of sports betting, Minnesota is one state pushing hard to legalize it. In May, a bill passed the Senate finance committee, but the issue of tribal exclusivity has made compromise difficult. The state will probably have to wait until 2023. Missouri is another state trying to follow the example of neighbor Kansas, which legalized sports betting in 2017. Despite efforts by lawmakers to reach an agreement with local casinos, the legislature ended without passing the bill.
Legalization of sports betting across the U.S.
According to the Pew Research Center, one in five adults in the United States has placed a bet on sports in the past year. That number includes bets made at gambling facilities and online through betting apps. Currently, 35 states have legalized sports betting. Many of these states have already regulated the industry, but there are still several hurdles for these sports betting enthusiasts to overcome.
Sports betting was previously illegal in the United States, and only available in Las Vegas and at certain tribal casinos. However, the Supreme Court overturned the ban and gave states the option to regulate sports betting. As a result, there are now nearly a dozen sportsbooks operating throughout the U.S., and some states are even legalizing the activity online.
In New York, the first legal sports bets were placed on July 16, 2019. J. Gary Pretlow, chair of the state’s racing and wagering committee, placed the bet at Rivers Casino in Schenectady, which opened a sportsbook six years ago. This state has also legalized mobile sports betting. However, DraftKings and FanDuel are required to partner with an existing casino for 18 months.
Terms used in sports betting
Sports betting terminology can be quite confusing, but by understanding it, you can increase your chances of winning while reducing your risks. This glossary will explain some common terms and help you understand how they are used in the sports betting world. A bet is any type of wager placed on a particular sporting event.
One of the terms used in sports betting is chalk, which refers to the favorite team. It is also used to describe the spread for a game. A team can cover the spread if it wins by more points than the line indicates. The betting lines for a game are usually higher than the actual point total, or “over/under.”
Another term used in sports betting is “teaser,” which refers to a bet on two or more football or basketball teams. It is also a type of parlay, but is offered at lower odds. The total, on the other hand, refers to the number of points scored by both teams.