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Sportsbook Betting 101

by Paid Placement Advertorial on April 5, 2021

Although the pandemic certainly put a damper on sports, the NBA, NFL, and even college basketball found a way to continue. The stands may have been empty (or filled with “virtual fans”), but the show still went on. Occasionally a player would test positive and have to be removed from the team, but other than that, sports fans could still watch their favorite teams play on TV!

During this time, the sportsbook betting scene exploded. Although sports betting has always been a favorite pastime, it’s always been more of an in-person thing. This year saw one of the biggest explosions in online gambling since the beginning of the internet. Sports fans everywhere were signing up for their favorite online betting site and casting their wagers at breakneck speeds.

If you’re interested in or want to start betting on sportsbooks and playing the odds, then we’re about to give you a quick breakdown on the subject. We’ll explain some of the complex legal implications of sportsbooks and betting sites and give you some basic information on how to go about placing your first sportsbook bet.

Are you ready to place your bets?

Is Running A Sportsbook Illegal?

So, first things first, we would never tell you to do something illegal. Not only would it be immoral, but it would be flat-out irresponsible. We’re here to tell you how to play legally, not how to break the law. If you want to do that, you’ll have to do that on your own time!

That being said, traditional gambling and betting rings are very illegal and are frowned upon by the law. Just because your neighborhood “bookie” (the bookmaker who takes everybody’s bets) says he runs a legitimate business doesn’t mean he actually is.

There are only a few states in the U.S. that allow players to wager their money and bet on basketball, NFL, MLB, NBA, etc. games. Nevada is probably the most well-known out of them. However, even though it’s legal in Nevada, all casino organizations are state-regulated and have to adhere to a strict set of laws.

Are Online Sportsbooks Legal?

What about online sportsbooks, though? Is it legal for bettors to visit an online casino, make a deposit, and start wagering on today’s game?

Here’s where there’s a bit of a “grey area.” While online casino operations are technically illegal in the United States, it’s not against the law for bettors to participate on a sports betting site that’s registered overseas (in a country where gambling and sportsbook betting is legal).

For example, BetUS.com.pa is registered in the country of Panama (hence the “.pa” domain). This means that U.S. citizens (or citizens of any country, for that matter) can create an account and start wagering on the site’s online sportsbook.

As long as you remember to report any and all gambling winnings on your taxes at the end of the year, you’re completely within your legal bounds to cast your bet on the upcoming NBA, MLB, NHL, or whatever other games you’re interested in.

How To Bet Online Safely

Now, let’s talk a bit about how to bet online safely. While most reputable betting sites are highly-rated and have a reputation for fair business, there may be a few “bad apples” in the batch from time to time. Here’s how to protect yourself so that you can stay safe and minimize your risk online.

Limit The Personal Information You Give

When users create a new account, provide as little information as possible about yourself. This will prevent hackers from being able to access your account and steal important information.

Make Your Account Deposit With Bitcoin

Depending on their terms and conditions, many sites offer promotions and bonuses when you make your 1st deposit with Bitcoin. Aside from putting some extra credits in your pocket, wagering with Bitcoin is a lot more secure and is untraceable by unwanted eyes.

Know Your Limits

The best way to minimize your risk while betting online is to choose your battles wisely. Don’t blow through all of your money searching for the perfect payout. It simply doesn’t exist. Take your winnings happily and know when to leave the table and play again another day.

Research The Odds

Always do your due diligence and check the games and the teams that are playing in a match. The more you know about the teams playing the match, the better spread you’ll be able to select and the higher the likelihood that you’ll get a good payout on your wagering.

What Is The Best Online Sports Betting?

Players will typically be able to choose between live betting opportunities (in which they’ll bet as the match is currently being played) or a traditional sportsbook bet (where wagers are placed before the game). Each offers its own positive and negative benefits and drawbacks.

Live betting tends to be a bit more “fun” and engaging and will keep you on the edge of your seat for the duration of the game. It’s a great choice if you’re going to be sitting around for a while. On the other hand, a traditional sportsbook spread will allow you to place your bet and then go about your day as usual.

Ultimately, the type of bet you decide to place is up to you. Just remember to stay safe and always start small until you become more confident and know what you’re doing a bit better!

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