Legalized Sports Betting Takes Over America

November 7, 2018 11:45 AM

We live in a society where everything is run by money. So, everyone is essentially chasing after money or what money can buy. Therefore, any scheme that can help people make more money will always grab their attention.

There is an industry that entices you with the possibility of multiplying your income. Of course, there are many industries that promise that. Why this one is different is that you can get your ROI in minutes. It sounds too good to be true, right? There has to be a catch. Perhaps it is illegal.

Allow us to introduce you to the world of sports betting. Its legality actually depends on where you live. Gambling is legal in the United States but there are state laws that restrict its practice. This also applies to sports betting.

For instance, it was only on June 14, 2018, that sports betting became legal in the state of New Jersey. There are many states in the US where sports betting isn’t allowed. Those that have allowed it has certain laws and regulations.

For instance, sports betting is only limited to individuals that are 21 and above. Your winnings can be taxed, and there are further clauses surrounding it. Athletes, referees, coaches, etc. are forbidden by law to participate in sports betting since they can influence the outcome of games.

Talking about the outcome of games, that is what sports betting is mainly about. An individual places a monetary wager on certain outcomes in a game between two competing teams. A great example is Governor Murphy of New Jersey placing a $20 bet on New Jersey Devils. The outcome he wagered on is that the team is going to win the Stanley Cup at the end of the season next year.

If you would like to know more about sports betting, continue reading. Below is a NJ Games’s interesting graphical presentation of facts on sports betting in the United States.