By: Adam Hayes
Sports betting is always one of the most controversial topics in sports. While it is technically illegal in every state but Nevada to bet on single games, millions of Americans bet billions of dollars each year on sports. It is estimated that Americans bet $4.2 billion on Super Bowl 50 alone. With that kind of interest, sports betting is not going anywhere. Here is a look at some of the recent sports betting trends to keep an eye on.
It seems utterly outrageous that sports betting is illegal while casinos and government-sponsored lotteries are everywhere you look. Fortunately, the tide is turning. More people are in favor of legalizing sports betting than are against it. NBA Commissioner Adam Silver has said he believes that sports betting should be legalized. Looking at how quickly marijuana legalization has spread around the country, it is not hard to picture sports betting following a similar track sometime in the near future.
While the US federal government loses out on billions in tax revenue, millions of Americans are betting on sports illegally through offshore sportsbooks. These online sportsbooks are at the forefront of innovation for the sports betting industry. One of the hottest trends that they have introduced is the notion of live betting.
Live betting lets people place wagers on the outcome of a sporting event even if it has already started. The bookmaker will continuously adjust the odds over the course of the game. As well as making the typical bets like moneyline, spread and total bets, there are lots of fun exotic bets that you can enjoy when live betting.
For example, you can bet what the outcome of the next drive of a football game will be like a score, a punt or a turnover. You can bet on whether Serena Williams will win the set she is playing. You can bet on whether there will be a score in the next 15 minutes of a soccer game. These are just a few of to make a game you are watching even more enjoyable.
One of the most interesting trends that has come to life over the last decade is the creation of peer-to-peer sports betting exchanges where the sports bettors are betting against each other rather than the house. These sports betting marketplaces make their the many ways that you can bet live money by taking a small transaction fee rather than collecting when a client loses. Some sports betting exchanges let bettors trade their bets just like stocks with the value of individual bets going up or down depending on demand and public perception.
It is an exciting time to be a sports bettor. Within a decade, it is not hard to envision that sports betting will be legal in many areas of the country. Sports bettors are already betting billions of dollars overseas, and the arrival of legalization in the US will undoubtedly make the industry grow enormously.