Wanna bet on sports?
First, make sure you know what you’re doing — and the odds against you.
Seven U.S. states now offer legal sports gambling, and as many as 30 more will consider jumping on board in 2019. So here are some of the basics — as well as some more esoteric aspects — of betting on sports.
The biggest difference between placing a legal sports bet with a casino or racetrack or their online affiliates and placing one with an illegal bookmaker or “bookie” is that with legal betting, you have to put your own money up first. Illegal bookies will let you bet on credit, the most appealing aspect of their illicit business and one that is expected to allow them to continue to operate, and perhaps still thrive, in the brave new world of sports betting.
Say you want to bet $25 on a football game legally. You have to hand the window clerk $25 and receive a ticket confirming your bet. In most cases, if you win, you will get back your original $25 stake plus your winnings, which won’t amount exactly to another $25 because of ...