Since the Supreme Court overturned the 1992 PASPA Act back in May 2018, there has been a sports betting revolution in the US.
States across the nation have launched their own sports betting sectors and millions of people in the US are registering with sportsbooks and taking advantage of new customer offers.
Many people will be considering betting on sports for the first time and online sports betting is often their preferred option, as it offers far greater convenience than visiting a physical retail betting site. But there are some important factors to consider when you start betting on sports.
Why are you betting?
People begin to bet on sports for a variety of reasons. For some, it is a way to add an extra layer of enjoyment to their sports watching. For others, it is a chance to test their knowledge, and others may even have ambitions of one day becoming a professional sports bettor.
Before you start betting on sports – it is a good idea to think through what you are hoping to get out of it. Unlike casino gambling, sports betting does offer, at least in theory, the chance to make a profit.
Yet, the percentage of sports bettors who achieve a long-term profit is tiny and the work required to make that a reality is grueling. The vast majority of sports bettors will not make a profit, and it is important to be realistic about what you are hoping to get out of it.
In particular, you should never start betting on sports if you see it as a quick or easy way to get rich or to solve your financial problems. For most people, sports betting should be regarded as a pastime or leisure activity, not a full-time job or a significant investment.
Choosing the right betting site
Whether you are betting within your state or crossing state lines to make your wager, there is a wide range of sportsbook sites across the US and it can be difficult to know where to start. Here are some of the key aspects to consider when you are picking your site:
Licensing
It is very important when you are betting on sports to ensure that you only use betting sites that are fully licensed and regulated.
If you bet with unregulated, unlicensed sites, you are putting your personal information and potentially your money at risk, as these sites are not required to follow any rules, laws or regulations. You may also find that an unlicensed site can simply refuse to pay out on winnings.
One way to ensure that you only bet with reputable sites is to look for licensing information on their home page. All licensed and properly regulated sites will display their license details. If you want further confirmation, you can contact the official gambling regulator for your state.
Market range
Most sportsbooks will provide good all-around coverage across the main sports, but if you are planning to bet on a more obscure or international sport, it is a good idea to check out the various sites to make sure that they feature the sports and the markets that you are looking for.
This is also advisable if you are intending to make a bet on one of the less common markets from a popular league such as the NBA, NFL or MLB. Bookmakers vary in the consistency with which they cover these markets, and it makes sense to focus on those that offer the markets you regularly need.
Odds
All sportsbooks include a profit margin in their odds, which is how they stay in business, but that doesn’t mean that all the odds available across the industry are the same.
There are considerable variations between sportsbook sites when it comes to odds, which is why it is always a good idea to look around for the best price when you’re thinking of making an online bet.
To help with this, there are plenty of odds comparison sites available online that make the process of finding the best odds more convenient.
Promotions
Another thing to remember when you’re starting out betting online is that as a new customer, you will be able to choose from many different welcome bonuses. Sportsbooks are always trying to attract new bettors and one of their main methods is to offer an eye-catching bonus.
Most often, these will involve being awarded with free bets when you register with the site.
It is important to remember, however, that not all offers are the same. All of them come with terms and conditions and it is vital to check these through before signing up. Sites that offer regular bonuses for loyal customers rather than those focused only on newcomers are also preferable.
Features
There are several features that sportsbooks offer that can make them more attractive to the new sports bettor. These include:
- A wide variety of live betting markets
- Live streaming of top events
- Cashback options on some markets
- Bet builder tools
- News and features around sports events
- Betting guides
- Advice on problem gambling
- Fast withdrawals
- 24/7 customer service
Some of these features will be more important to you than others, but all are worth considering when you are comparing sports betting sites.
Summary
Sports betting can be a diverting and enjoyable pastime and there are plenty of betting options out there due to the innovation and competition in the growing US sports betting market, which is one of the biggest new economic sectors in the country.
By betting within your means and sticking to strict limits, you will be able to get the most out of your sports betting.
