This happened after (PASPA) the Professional and Amateur Sports Protection Act of 1992 was struck down in May 2018, which paved the way for individual states to legalize sports betting.
Stats show that the global sports betting market has also increased with more online sports betting sites now accepting players from all over the world, allowing them to bet on their favorite sports.
Statista reports that the global sports betting market will exceed $63 billion by 2027.
Sports bettors have two choices when it comes to placing a bet. We give you a quick breakdown of the steps to take to place a bet on a major sporting event below.
Comparison with retail and online sportsbooks
Sports bettors have just two options when it comes to placing a sports bet.
They can go to any retail betting outlet (land based sports betting venue) and place a bet in person.
The second option is to register an account at an online betting site and place your bet online.
Since the number of scams online has risen, the bets you choose to make need to be reviewed properly.
Casino reviewers look for details that casual players are not aware of, so ideally, you should browse freshly checked gaming sites in 2023 to find out which betting site is best for you.
We take a close look at the differences between a retail and online sports book, as this will help you quickly decide which option will work best for you!
Retail sports betting vs online sports betting
You must show up in-person at the retail/land based venue to place a bet (retail)
You can place your bets from the comfort of your home (online)
Retail betting is only available in jurisdictions where betting is legal
Online betting sites from offshore providers can be accessed in jurisdictions that have banned online gambling
It takes a lot more time and effort to get to the retail betting shop and place a bet
Bets can be placed easily and effortlessly online
There can be long queues especially at big events like the Super Bowl or NBA finals (retail)
You will not have any waiting time even if it is the Super Bowl (online)
Hard to get cheated as retail sportsbooks are licensed and regulated
You can get cheated as many rogue online betting sites are out there
Most retail betting shops offer only fiat options
Many online sportsbooks offer both fiat and crypto betting options
Place your bet at retail betting sites
If you live in a licensed jurisdiction like the United Kingdom or New Jersey, USA for example and want to place a bet via a retail sportsbook, you will have lots of options to do so.
UK bettors can walk up to any William Hill retail sports betting outlet while bettors in New Jersey can visit Bally’s retail sports betting outlet and place their bets in person. All you need to do is bring your ID to prove that you are over 18 and have a payment method to deposit funds and place your bet.
You can place your bet over the counter and you will be given a receipt of your bet, which you must keep in order to collect any winnings. Do note that if you are placing a high value bet, you will have to provide the retail sportsbook with documentation such as ID, address verification and proof of funds.
Place your bet at online betting sites
The easier and more convenient way to place your sports bets is to do so online. There are many registered and licensed online sportsbooks that offer access to all major sporting events and also smaller events such as snooker, carom, and greyhound racing.
You also have many licensed and regulated online casinos that also double up as a sportsbook. Players have the option to create just one account, deposit funds and then play both online casino games and place sports bets from the same account.
Most of these online casino and sports betting sites give players the option to also place their bets while on the go. Bettors can do this by either downloading a mobile casino app that allows them to place their bets via the app.
Do note that not all betting sites have a mobile app that is compatible with Android and iOS devices. However, they will allow you to use your mobile browser and access the betting site seamlessly and place your bets via your mobile browser.
How to place an online sports bet
Follow these steps to place an online sports bet on any major sporting event:
– Register an account at a reputed or recommended online gaming site
– Select a banking or crypto option and deposit funds into your account
– Access the sports betting site and see the list of sporting events on offer
– Decide if you want to make a pre-game bet or an in-play/live bet
– Look at the odds on offer and decide how much you are going to bet
– Place your bet and the funds from your account will be deducted
– You will get a confirmation that your bet is successful
– If you lose, the money will be debited from your account
– If you win, your winnings will be credited to your account
Online betting easy for major sports events
We recommend registering an account with an online gambling site and betting online as it will allow you to place your bets from the comfort of your home and while on the move without any delays!