Sports betting involves placing bets on different outcomes of sporting events. Most bets are placed on over/under totals, or the total points scored by two teams. There are also futures bets, which predict what the outcome will be a few weeks, months, or years down the road. The most common type of sports betting is point total betting, which is often called “over/under” betting. The point total of a game is the total number of points scored by both teams during the game. In the 1919 World Series, for example, the Philadelphia Eagles scored 45.5 points and the New York Giants scored 17, so the point-total would be 38.
While many states have legalized sports betting, only a few have made it a reality. For instance, the NBA and MLB are pushing for the federal government to regulate the industry. The leagues claim that paying for data will help preserve the integrity of sports games, but there has been little progress on implementing such legislation in the U.S. Only two states – Illinois and Tennessee – have passed legislation that requires legal sportsbooks to provide such information.
The overall gaming industry has been undergoing consolidation. While some larger corporations have stepped up their sports betting business, the overall gaming market is still relatively small. A few notable deals have occurred recently: DraftKings, a DFS operator turned sportsbook, merged with Boyd Gaming and Caesars Entertainment, and Boyd Gaming has partnered with FanDuel. And while Congress may not regulate sports betting, it’s possible to learn more about it by visiting the BetOnline website.