If you have been wondering if sports betting is legal in your state, you’re not alone. The NBA, MLB, and PGA Tour are among those who have been lobbying for legal sports betting in recent years. The groups worked with legislators to propose what they call “Model Legislation” that could eventually legalize sports betting. The first version of this legislation was presented in January 2018.
Legalization of sports betting
A recent Supreme Court ruling legalized sports betting and related services. States are expected to follow suit at varying speeds. However, experts predict that it will take anywhere from three to five years before a majority of states have legalized the activity. By 2022, it is expected that a regulated sports betting market could be worth $15 billion in the U.S. As more states legalize the practice, regional sports networks will likely lead the way with advertising and programming.
Various state legislators are taking up the issue. One such example is Kansas, which voted in May to legalize sports betting. The state is expected to allow up to 12 mobile sportsbooks and four brick-and-mortar casinos to accept wagers. If approved, Kansas is expected to begin accepting sports bets in the fall of 2022. The state of Maine has also passed a bill that allows in-person betting.
Types of sports betting
When it comes to sports betting, there are several different types of bets. Some of these types include money line bets and spread bets, while others include parlays, which combine several outcomes into a single bet. Each of these types has its own odds and payouts. If you’re a newbie to sports betting, moneyline bets are a good place to start. They are easy to understand and are ideal for new entrants.
Futures bets involve placing a bet on the outcome of a future sporting event, like a championship game. In this type of wager, the winner will be determined several weeks or months in advance. For example, if you want to bet on the winner of the NFL Super Bowl, you’ll have to place your wager well before the start of the season. If you win, your winnings won’t be realized until after the Super Bowl, which is usually in January or February.
Legalization of sports betting in Delaware
Delaware’s sports betting legalization was approved after the state’s supreme court struck down the 1992 Professional and Amateur Sports Protection Act (PASPA), which had prohibited sports betting in most states but Nevada. This ruling has spurred other states to follow suit. Currently, residents of Delaware can place bets on sports events in multiple Delaware casinos as well as online.
Delaware has been a progressive state on the issue of sports betting since the early 1970s. For example, a 1976 law permitted lotto customers to place parlay-style wagers on up to three NFL games. The bets would pay if all three picks were correct. Unfortunately, the state was robbed of its sports betting autonomy when the federal government passed the Professional and Amateur Sports Protection Act in 1992. Although sports betting is illegal across the country, Delaware’s legislation has several exemptions for states that have legalized sports gambling.
Legalization of sports betting in New Jersey
Legalized sports betting in New Jersey has exploded in popularity since it started in 2018. In 2018, the state reported the most sports betting handle of any state in the country and it is expected to surpass $10 billion in wagers by 2021. There are currently 20 online sites with companion apps and 11 retail sportsbooks in New Jersey.
Legal sports betting sites in New Jersey must comply with two-factor authentication. This requires customers to confirm their accounts via SMS or an authenticator app. Also, bettors must be located within New Jersey in order to place wagers. Additionally, they cannot be using virtual private network (VPN) services to make wagers.
Legalization of sports betting in Tennessee
The legalization of sports betting in Tennessee is an important step for the state, but the process is not yet complete. Unlike other states, Tennessee has no land-based casinos or sports betting venues. Its closest equivalents to sports betting are horse races and daily fantasy sports. Nonetheless, the state did legalize state lotteries in 2004.
The legalization of sports betting in Tennessee is scheduled to take effect on July 1st. Before that, state regulators will have to draw additional regulations and consider licensing requests. Once all of the details are finalized, mobile providers will be able to accept wagers from people 21 years of age and older within the state. Users can download the official apps from licensed providers or visit their websites.