August kicks off one of the busiest seasons at the sports book. football season. Between football, the Mayweather vs. McGregor fight and the talk of legalized sports betting, we want you to be in the know so you can join the conversation.
We’re betting on you,
The Last Night’s Game Team
Five things to know about sports betting
- Line makers are the individuals who set the point spread for the event. Yes, they’re humans. For example, in a casino sportsbook they determine the numbers by minimizing risk and maximizing the revenue. Hey Vegas wasn’t built on winners.
- As of this publication date, if you want to place your bets on the outcome of individual games it is illegal in all states, besides Nevada. The key word is individual games as other states have sports betting. Intrigued on going down the rabbit hole that is the legality of sports betting? Here’s a start.
- The commissioners of the four major sports (baseball, basketball, football and hockey) have met to discuss legalizing sports betting and there has been some progress. Concerns over fixing games and gambling addiction are some of the reasons legalizing sports betting isn’t an easy decision.
- Online daily fantasy sports, which is considered a skill-based game not gambling, hit a roadblock earlier this year. The two major companies, FanDuel and DraftKings, were severely strapped for cash and that necessitated a merger. The merger deal was ended by an FTC lawsuit.
- A few of the basics on betting:
- If there is a (-) in front of the team, they are favored to win. A (+) means they are the underdogs.
- The bigger the number is behind the (-), the less money you win.
- If you want to place an uncomplicated bet, go with the over/under. That’s when the total points between the two teams will either be greater (over) or less than (under) the projected total.
Want more? Here’s a guide to sports betting for newbies.
- Who runs the world? In the sports world, it could soon be JAY-Z and Beyoncé. Rumor has it that the Queen B is interested in buying a stake of her hometown Houston Rockets, (NBA – National Basketball Association) which is for sale. Her husband, JAY-Z, used to be an owner of the Brooklyn Nets (NBA) before he sold his share to open a sports agency, Roc Nation.
- More than $4.7 billion was bet on the last Super Bowl, but since Nevada is the only state where it’s actually legal, $4.5 billion of that was technically illegal.
- It’s the most wonderful time of the year. Thursday marks the start of the NFL (National Football League) season with the Hall of Fame Game in Ohio between the Dallas Cowboys and the Arizona Cardinals. This game is played in advance of the NFL Hall of Fame induction this weekend.