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Frequently asked questions about sports betting

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New Jersey was one of the first states to legalize sports betting and online wagering after the 2018 Supreme Court decision.

Yes. New Jersey was one of the first states to legalize sports betting and online wagering after the 2018 Supreme Court decision.

Michigan passed legislation to allow sports betting in December 2019 and the first physical sportsbooks opened March 2020.

Yes. Michigan passed legislation to allow sports betting in December 2019 and the first physical sportsbooks opened in March 2020.

New York was one of the first states to legalize sports betting once the PASPA ruling passed the Senate in 2018. Legal online betting began in 2022.

Sports betting is legal in Arizona as of fall 2021.

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Sports betting is legal in Indiana as of 2019.

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Sports betting is currently legal in Illinois.

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Colorado legalized in-person and mobile sports betting November 2019 after a bill was signed by the governor and then approved by voters.

Yes. Colorado legalized in-person and mobile sports betting in November 2019.

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The spread, also referred to as the line, is used to even the odds between two unevenly matched teams.
Bookmakers set a spread with the hopes of getting equal action on both sides of a game. For example, the Colts are a -3 point favorite against the Texans. The -3 points is the spread . If you want to bet the Colts on the spread, it would mean the Colts need to win by at least three points for you to win the bet. If the Colts win by two points, you would lose the bet because they didn't hit the key number of three.
The spread at -3 suggests the teams are fairly equal and maybe in this case, the Colts are only -3 because they are playing at home. Bookmakers see these teams as equal and expect to receive fairly even money from bettors. If these teams were widely considered equal and bookmakers put the spread at -10, they wouldn't get equal money as Texans +10 would likely be pounded by bettors.
In a spread bet , the odds are usually set at -110 on both sides , depending on the sportsbook and state. That means whether you bet the Colts -3 or Texans +3, you'll win the same amount of money if you win the bet.
If you like the Colts to win but think three points is a tricky number, a moneyline bet could be made on the winning team with no points in the equation. In the above example, a Colts moneyline bet doesn't have any other requirements other than they win the game. The difference is that their odds may be set at -140 to win. On the other end, the Texans could be +120 to win.
While betting the Colts moneyline leads to a smaller payout, an underdog moneyline bet on the Texans would yield more money because you'd get money on them winning the game straight up. In a spread bet, even if the Texans won straight up, you'd still only win the bet because they lost by less than three points.

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One of the most popular sports wagers is betting the point spread.
While it can be a little confusing, we're going to try and explain everything you need to know to understand point spreads and how to be successful betting on them.
In simple terms, a point spread is a bet on how much the favorite team will win by.
If the team has a minus sign, that means they're the favorite and they'll have to win by the specified number or more for you to win your bet.
If the team has a plus, that means they're the underdog and they'll have to either win the game or lose by less than the specified number for you to win.
Each team will have different odds, so make sure you're paying attention to them.
The easiest way to control the point spread is to pay attention to the days leading up to the game.
Not only will you be able to see any important information pop up, like injuries, but you'll also be able to see who the favorite is and who isn't. In addition, being able to watch the line move will give you an idea of which team you should bet on and when you should bet. If you aren't really sure how things will turn out, it's a good idea to avoid betting altogether until the next game.
The entire process of betting can be simplified by using an online sportsbook.
To begin, either create an account or log in to your existing one. Next, simply choose the sport you want to bet on and go to that page. You'll then see all of the lines and games for the upcoming days. The next thing you'll do is decide whether you want to bet on the favorite or the underdog. Once you know, go ahead and click on that team. From there, decide how much you want to bet and place it.
Keep in mind, that once your bet is placed, you can't back out.
Spread betting works by allowing the sportsbooks to make two teams that are unbalanced to be more balanced. They do this by taking points from the favored team and giving points to the underdog, both of which will be labeled by either a plus or minus. The minus means the team is the favorite and they have to win by more than the number specified. The plus means the team is the underdog and they have to either win or lose by less than the specified number. This means you can place a bet on both teams if you're confident it'll work out in your favor!
Long is when you buy and short is when you sell. There will be two boxes with numbers and these are your buy and sell boxes. The long box will almost always have a lower price and the short box will have a higher one.
The difference between these two numbers is known as the bid/offer spread or the bid/ask spread. In short, the price has to move a good amount of distance in order for you to win. This is true regardless of whether you're on the long or short side.
Leverage means that you'll only need to use a little bit of capital in order to open a larger position. In simple terms, this means you can put down a small deposit to open your position instead of having to pay a large amount. One thing to keep in mind, though, is that both profits and losses are much bigger because everything is determined by using the full trade value instead of the smaller deposit that you originally put down.
There are two different types of margins in spread betting, which are deposit margin and maintenance margin. Deposit margin is the initial deposit you put down to actually open a position while maintenance margin is the amount you'll put in if your position starts accumulating losses that can't be covered by the deposit you put down.
The good thing is you'll get something called a margin call, which is just a notification saying that you need to add more money and the reason why.
There are three main features of spread betting, which are the spread, the favorite, and the underdog. Keep reading to see a more in-depth explanation of these below.
The spread is the differences between Team A and Team B and how much each team will win. The bigger the spread is, the bigger the underdog will be. Every sport and match or game is different, so make sure you know how to read multiple point spread bet types.
The favorite is the team that a sportsbook thinks will win. They use many things to figure this out, including how many people have bet on the team, how they've been doing during the season, how many players have been injured, and which team has home-field advantage.
The underdog is the team that isn't as popular and has a lower chance of winning. They are the team that has the plus sign in front and they usually lose more games than the favorite. With that said, though, there's nothing that says they can't come out on top.
The simple reason for this is because the sportsbook has the right to shift the odds and spread whenever they want. You have to remember they'll want to try and come out even, so they'll shift the odds and spread more towards their favor. This is something you want to watch because you never know when it'll change. If possible, try and check the lines multiple times a day to ensure you're staying up-to-date on exactly what's going on.
There are a few instances when it's a good idea to bet on a point spread. The first is when both teams are relatively equal because there's a higher chance that you can win your bet. Another instance is if you're trying to get a larger return. These bets can give a great payout, but they can also cause you to lose a nice chunk of change.
The final instance is when you know what you're doing and completely understand spread betting because placing a bet when you aren't sure what you're doing can lead to losing quite a bit of money.
Some of the benefits of these types of bets are listed next.
There are a few different betting strategies and we've talked more about them below.
Sometimes, an extra half-point or full point could mean the difference between winning and losing your bet. The easiest way to do this is to watch the lines leading up to the game and decide if you want to bet now, later, or not at all. Remember, though, once you place your line bet, you're locked in and can't change it.-
Try to make your own spreads and calculate before looking at the lines. All you do is take the games you think you'll be interested in betting on and put down what you think the spread will be. Once you have everything down, you'll be able to look at the actual lines and see how far off you were. Simply put, if you see that the lines are equal or more in your favor, place your bet!
If you're planning on betting on the underdog, you should wait until a few days before the game. As it gets closer, more people in the general public are going to be placing bets and the amounts will go up.
Try to wait as long as possible before placing your bet. If you see a lot of movement earlier in the week, that's probably because of bettors that have a lot of money on the line. This is a good way to see where you should put your money.
Let's say you place a bet on Team A to win. If you see that everything is moving more in your favor, don't be afraid to double down and place another bet. This could lead to winning double the money!
Even though point spreads are used across multiple sports, they're all read pretty much the same way. The only difference is how they score. For example, football would be goals, basketball would be points, and hockey would be goals. It'll all depend on the game and if you aren't sure, you can reach out to the pros handling your money.
It's actually really easy to read spread bets once you know what you're doing. Let's say Team A is -6.5 and Team B is +6.5. The minus means that Team A is the projected favorite and the plus means that Team B is
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