Online betting is a popular form of gambling where people wager on sporting events. Whether it’s football, soccer, horse racing, tennis, MMA, or golf, the most successful punters do their research and try to minimize their losses. There are also plenty of ways to make money from betting, including matched bets and hedge betting. The latter involves placing free bets with different bookmakers and then hedging the risk on the outcome of each match to turn a profit regardless of the result. You can find out more about both of these strategies on our dedicated resources pages.
The most popular sports bets are on major league baseball, basketball, and the NFL, but online punters can also place wagers on less prominent games such as MLS, rugby union, ice hockey, and handball. Some sites also offer odds on boxing, especially when there’s a big fight scheduled on PPV.
While online betting is available in many states, the law differs from one state to another. For instance, New Jersey legalized sports betting in 2019, with retail sportsbooks opening in June and the first online offerings from DraftKings, FanDuel, and BetRivers launching in August. The state is now the most populated legal sports betting market in the country.
In Washington, DC, the government-run GambetDC launched in January 2022, while West Virginia jumped into the game immediately after the Supreme Court ruling. New Hampshire’s lottery oversees its sports betting and partnered with DraftKings as the lone online option, while North Carolina will likely launch in early 2024.