Although there are numerous advantages to legalized sports betting, it’s not without risks. There is a significant amount of unregulated competition, and the market is not homogeneous throughout the U.S. Nevertheless, the safety of sports betting through state-licensed operators is generally excellent. Moreover, technological advancements are helping to improve the safety of the sport betting industry.
Moneyline bets
Moneyline bets in sports betting are the most basic way to bet on a game. The bettor picks a team or player and places a wager that says either team or player will win the game. There are no additional conditions associated with moneyline bets, and they are best for low-scoring sports. Point spread betting is the opposite of moneyline betting, and it pays out according to the odds set by the sportsbook.
When placing moneyline bets, keep in mind that sportsbooks have limited information when the market opens. However, as the match draws closer, they receive new data on the variables of the game and adjust the odds accordingly. In some cases, moneyline odds can change dramatically. For example, the Oilers +250 moneyline odds today may change to +220 tomorrow.
Futures betting
If you’re looking for a way to lock in your bankroll, futures betting can be a good choice. In this form of betting, the prices go up and down based on recent games and breaking news. For example, if the star quarterback of one team breaks his leg, the betting public will move away from him to the backup.
Futures betting is very different from other types of sports betting, which are based on past results. With futures betting, you can place your bets weeks or even months in advance. For example, you can bet on the World Cup winner up to four years ahead of the tournament. Sportsbooks analyze multiple gigabytes of data to determine what the odds are for future events. For example, you can bet on Kevin Durant to win the NBA MVP, but also place a bet on the backup quarterback, who may win the Super Bowl.
Legalizing sports betting in Indiana
The state of Indiana is currently undergoing the process of legalizing sports betting. There are challenges the state will face as it rolls out this new sport. But there are also many opportunities for Indiana sports bettors, including an increase in online and mobile betting options. The law allows for up to three “skins” or separate online brands per sportsbook licensee, which theoretically could lead to up to 40 different sportsbooks in the state. As of now, the state has already approved permits for over a dozen high-quality sportsbooks, with many more on the way. There are also 15 physical properties in Indiana with sports betting licenses. Each sportsbook will be different in terms of size, space, menus, betting technology, and other features.
In the state, sports betting will be allowed in mobile applications and retail gaming facilities. Each licensed gambling establishment will be allowed to offer up to three skins for third-party online sportsbook operators, and will pay a one-time licensing fee of $100,000, plus $50,000 annually to renew its license. Licensed gambling establishments will also have to pay a 9.5% tax on adjusted gross revenue. The state expects to raise between $10 million and $20 million in taxes from legal sports betting in Indiana.