Five Amazing Facts About Online Sports Betting in 2021
If you’re into sports betting, you know that for decades, you’ve only been able to do it legally in Nevada. Want to bet on the Super Bowl? You’d have to place your bet in a casino in Nevada and mail in your betting slip if you win.
However, in 2018, the Supreme Court paved the way for sports betting to be legalized outside of Nevada. This resulted in online sports betting taking off like wildfire. In the three years since the decision in Murphy v. National Collegiate Athletic Association, sports betting has exploded.
Read on for some amazing facts about online sports betting.
1. The House Always Wins
The reason that casinos and online sports betting sites can stay in business is that the house always wins. Sure, some people, like professional sports gamblers, make a living off of successful bets, but most sports bettors show a loss when you look at their bets and successes over time.
2. You Can Bet on Almost Anything
Want to place a wager on what color Gatorade will be dumped on the winning coach after the Super Bowl? Or how many times a certain celebrity will be shown during a big game? Or who the MVP will thank first?
These might sound like silly and meaningless bets, but if you have the cash and the desire, you can actually make these bets in person or online. These are called prop bets and you can find them for just about everything in the sports world.
If you’re an aspiring sports handicapper, start doing your research and make your wagers.
3. Projections Have the Online Sports Gambling Industry Growing
Not all states have gotten in on the online sports gambling market, but many have. Others, such as Florida, have laws enacted that allow sports gambling, but they haven’t worked out the logistics yet.
Over the next 10 years, though, projections have the sports gambling industry growing by as much as 40%.
4. New Jersey Has Surpassed Nevada With the Most Monthly Sports Bets
New Jersey was the state that challenged Nevada’s monopoly on sports betting and now they have surpassed Nevada for the most sports bets per month. Most of these bets in New Jersey take place online. Figures from June 2021 show that nearly $700 million was wagered online in New Jersey.
5. Three Companies Handle the Majority of Online Betting
There are three companies that hold a monopoly on sports betting in the US. BetMGM, FanDuel, and DraftKings make up over 80% of the online sports betting in the US. FanDuel is the number one company, handling more than double the amount of the number two company, DraftKings.
Online Sports Betting Is Here to Stay
Online sports betting is not going anywhere. Be prepared to see it continue to grow over the coming years, especially as more and more states legalize it.
If you found these facts interesting, be sure to read some of our other articles. We have lots of useful (and useless) knowledge available.