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The most common way to bet on sports is through an online sportsbook. Online (or mobile) wagering allows you to establish and fund betting accounts and make wagers with a couple of clicks on a computer or mobile device.

Because of its convenience and associated promotions, online wagering dominates the sports betting market in the states that legalized the practice. Some states see more than 95% of sports betting volume via the internet.

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The top U.S.-based sportsbooks provide American odds, which use positive (+) odds to show how much you could win with each successful $100 bet and negative (-) odds to indicate how much you have to bet to win $100.

Sports betting payouts are determined by the odds attached to your bet and the amount of your wager. This potential payout is always listed on your betting slip, whether you wager online or at a retail location.

Sports bettors place their wagers either legally, through a bookmaker/sportsbook, or illegally through privately run enterprises referred to as "bookies". The term "book" is a reference to the books used by wage brokers to track wagers, payouts, and debts. Many legal sportsbooks are found online, operated over the Internet from jurisdictions separate from the clients they serve, usually to get around various gambling laws (such as the Unlawful Internet Gambling Enforcement Act of 2006 in the United States) in select markets, such as Las Vegas, or on gambling cruises through self-serve kiosks.[1] There are different types of legalized sports betting now such as game betting, parlays props and future bets. They take bets "up-front", meaning the bettor must pay the sportsbook before placing the bet. Due to the nature of their business, illegal bookies can operate anywhere but only require money from losing bettors and do not require the wagered money up front, creating the possibility of debt to the bookie from the bettor. This creates a number of other criminal elements, thus furthering their illegality.

There have been a number of sports betting scandals, affecting the integrity of sports events through various acts including point shaving (players affecting the score by missing shots), spot-fixing (a player action is fixed), bad calls from officials at key moments, and overall match-fixing (the overall result of the event is fixed). Examples include the 1919 World Series, the alleged (and later admitted) illegal gambling of former baseball player Pete Rose, and former NBA referee Tim Donaghy.

The bookmaker functions as a market maker for sports wagers, most of which have a binary outcome: a team either wins or loses. The bookmaker accepts both wagers, and maintains a spread (the vigorish) which will ensure a profit regardless of the outcome of the wager. The Federal Wire Act of 1961 was an attempt by the US government to prevent illegal bookmaking.[5] However, this Act does not apply to other types of online gambling.[6] The Supreme Court has not ruled on the meaning of the Federal Wire Act as it pertains to online gambling.

In Asian betting markets, other frequently used formats for expressing odds include Hong Kong, Malaysian, and Indonesian-style odds formats. Odds are also quite often expressed in terms of implied probability, which corresponds to the probability with which the event in question would need to occur for the bet to be a break-even proposition (on the average).

The opinions of betting from sport authorities are mixed. The United States National Football League was previously fully against any sort of legalization of sports betting prior to the late 2010s, strongly protesting it as to not bring corruption into the game.[citation needed] On the other hand, the CEO of the International Cricket Council believe sports betting, in particular in India, should be legalized to curb illegal bookies where match fixing has occurred from nontransparent bookmakers.[citation needed] According to the Law Commission of India, all forms of gambling are illegal. Online sports betting is a gray area and is not banned by any particular law in the Indian legal system. That is because specific provisions distinguish between games of chance and games of skill.[citation needed]

In May 2020, it was reported that since the Supreme Court's PASPA decision, over $20 billion had been spent on sports betting in the United States.[13] As of May 2022, 30 states and Washington, D.C. have operational legalized sports betting, while an additional four states have legalized it, but have not yet launched legal sportsbooks.[9]

In the European Union (EU), sports betting legality varies among member states. Generally, the EU does not criminalize sports betting, but requires operators to obtain specific licenses within individual countries. Key directives, such as the Services Directive and consumer protection laws, influence the regulatory landscape. Each EU country sets its rules, impacting online and offline betting. Certain countries have recently updated regulations (such as the GlStV 2021 in Germany[14]), while the EU works to harmonize diverse laws.

Outside the EU, regions approach sports betting differently. In Asia, some countries allow licensed betting while illegal markets thrive in others. Africa sees a growing industry with varying regulations. Australia boasts a well-regulated betting environment focusing on online and offline options. Latin America, led by countries like Colombia, is embracing regulated online markets. Meanwhile, the Middle East, including nations like Saudi Arabia and the UAE, strictly prohibits all gambling activities, including sports betting,[15] due to cultural and religious reasons.

The positions of the four major American sports leagues (representing American football, baseball, basketball, and ice hockey) have become more complex since their decision to embrace daily fantasy sports (DFS) in 2014, which are described by those within the industry as "almost identical to a casino" in nature. With the contention by critics that such activities blur the lines between gambling and fantasy sports, the endorsement of all four major sports leagues and many individual franchises provided a marked contrast to their positions on betting.[16] Professional sports leagues updated their positions again on May 14, 2018, when the Supreme Court of the United States overturned the Professional and Amateur Sports Protection Act of 1992 (PASPA).

While the National Basketball Association (NBA) was once active in preventing sports betting law relaxation, current NBA Commissioner Adam Silver became the first major sports leader to break from previous administrative opposition to gambling. In 2014 he stated in a New York Times op-ed, "I believe that sports betting should be brought out of the underground and into the sunlight where it can be appropriately monitored and regulated."[17] In 2017, with support for legalization growing, he confirmed his belief that "legalized sports betting is inevitable".[18]

Silver released the following statement following the Supreme Court's overturning of PASPA: "Today's decision by the Supreme Court opens the door for states to pass laws legalizing sports betting. We remain in favor of a federal framework that would provide a uniform approach to sports gambling in states that choose to permit it, but we will remain active in ongoing discussions with state legislatures. Regardless of the particulars of any future sports betting law, the integrity of our game remains our highest priority."[19]

Major League Baseball (MLB) Commissioner Rob Manfred has also advocated the league changing its stance on sports betting, with both Manfred and Silver noting that the scale of illegal sports betting makes opposition to betting meaningless. He also stated a willingness to "try to shape" any future legislation at federal level. This was noted as a marked contrast to former Commissioner of the MLB Bud Selig, with Manfred going beyond tacit approval and stating, "There is this buzz out there in terms of people feeling that there may be an opportunity here for additional legalized sports betting."[20]

MLB released the following statement when the Supreme Court overturned PASPA: "Today's decision by the United States Supreme Court will have profound effects on Major League Baseball. As each state considers whether to allow sports betting, we will continue to seek the proper protections for our sport, in partnership with other professional sports. Our most important priority is protecting the integrity of our games. We will continue to support legislation that creates air-tight coordination and partnerships between the state, the casino operators and the governing bodies in sports toward that goal."[21]

In April 2022, league-owned television channel MLB Network launched Pregame Spread, a weekday afternoon show hosted by Matt Vasgersian dedicated to analysis of betting lines and other aspects of sports gambling.[22]

The National Football League (NFL) remains the only sports league to maintain public opposition to sports betting, however critics have noted that with the move of the Oakland Raiders to Las Vegas in 2019, the NFL has positioned itself for legalization, while simultaneously contradicting its long-held position that sports betting in NFL markets would lead to potential match-fixing.[23] Commissioner Roger Goodell agreed with Manfred in a July 2017 seminar that betting on in-game events, as opposed to the outcome of games, was a more palatable form of sports betting.[24]

Like the NBA and MLB, the NFL issued a statement on May 14, 2018. It emphasized the league's commitment to protecting the integrity of the game: "The NFL's long-standing and unwavering commitment to protecting the integrity of our game remains absolute." Moreover, the NFL called on Congress to craft a Federal framework for regulated sports betting. "Congress has long recognized the potential harms posed by sports betting to the integrity of sporting contests and the public confidence in these events. Given that history, we intend to call on Congress again, this time to enact a core regulatory framework for legalized sports betting."[25] e24fc04721