The Professional and Amateur Sports Protection Act makes 97% of the sports betting market illegal in the US. This, however, has not stopped people from making money betting on sports as well as making money betting on esports.
PASPA & Sports Betting in the US
PASPA dates back to 1992 when the federal statute prohibited states from permitting or sponsoring sports gambling. The law was for all states except Delaware, Montana, Nevada, and Oregon.
As tax revenues fail to meet the budget deficits, many states are considering legalizing sports betting, and PASPA is practically under attack.
Legalizing sports betting continues to be a subject of great conflict. Making money betting on sports can be a source of huge revenues, but at the same time, it hurts the integrity of the game. It has led to problems like:
- Point shaving
And, therefore, the history of sports betting is full of scandals. For instance, the ‘Black Sox Scandal’ of the 1919 World Series. And, later in 2002, the Laker-King Games fix.
Sports Betting-The Changing Landscape
In May 2018, the Supreme Court struck down the PASPA law. Now, this means that sports betting is essentially legal. This decision will have a huge impact on the sports betting market. It will hurt the black-market bookmarkers who were making $150 billion annually.
As the black market for sports betting sobs, this is good news for people who love making money betting on sports and, making money betting on esports. For the states, it will bring in more revenues.
It will be better for balancing budget deficits. But what will be the impact of these laws on the integrity of sports? That is a question no one can ignore.
At the same time, expect to see a lot of screens everywhere. If you are interested in trying making money betting sports or (thanks to the internet), making money betting on esports, here is a quick guide for you.
Types of Sports Betting for Beginners:
Let us take a look at some of the main types of sports betting. Each type depends on the analytical skills of the gamblers. This also depends on the sport. With each type of betting, you will find some pros and cons.
Here is a list of the most popular types of sports betting in the US.
- Point Spreads:
In point spreads, you bet on the winning team by a programmed margin of points. It is great for those who love making money betting on sports like football and basketball.
When the bookmarker sets a line of the points, it is up to the wager to gamble on the outcome. You will have to bet on if the outcome will be lesser or more than the line of points.
In this type of sports betting, you can gamble on more than one team. But this is a very tough bet. To win the bet, you should guess all teams right.
Other than these major types, there are also other types of sports betting.
In the end, we believe that sports betting in the US are going to flourish. The game is fun and addictive, and now it is legal. People have been making money betting on sports for so many years. in the future, we see the trend of making money betting on esports rising in the US.
Ron Gonzo kicked a ball in goal at the tender age of 2 days, basketed his first three-pointer by month 4 and knocked out a bear before he could walk. He was celebrated for his raw sports talent during his formative years. His downturn came when he started Archery as a hobby. Although he was revered as “The Bullseye Artist”, a rogue arrow flew into his knee spelling the downfall of the Legendary Sportsman. After a brief time where the vices took over, he decided to focus his energy and knowledge into Sports betting – “it felt like a homecoming. I belong here.” Ron had said to The Don.