Sports Betting Facts – Part 1

In the world of sports betting there is a lot of myths and facts spewed out together, thus, making it confusing as to which are true and which are false.

In order to debunk some of those myths and expose some truths, we will be discussing some facts about sports betting here.

In this first part we will be covering myths related to betting on sports in the U.S..

First of all, sports betting is illegal in all states of U.S.A. except Nevada; yet even when it’s only legal to bet on sports within Nevada, less than 1% of all sports bets take place in there.

It’s estimated that over $380 billion dollars are gambled through sports betting each year (in the U.S. alone), and it attracts 30 million visitors to Nevada each year, as well as providing employment for thousands of people in the state.

As you probably have heard (or read), the Superbowl is the single event on which the most money is wagered, yet, the first four days of March Madness manage to reach and surpass that amount. Also, even if March Madness makes it seem as though there is a strong culture to bet on college sports, approximately two-third of all sports bets in Nevada are placed on professional, non-college sport matches (although this is only in Nevada, it gives an idea of the general trend).

“According to the Nevada Gaming Control Board, approximately $98.9 million was wagered on the 2013 Super Bowl at sports books across the state, but most of that figure was returned to bettors in the form of winnings. After paying out to bettors, Nevada sports books earned $7.2 million on 2013’s game.”
Source: http://www.americangaming.org/industry-resources/research/fact-sheets/sports-wagering

Finally, even when online gambling is known to exist by most gamblers, less than 18% of gamblers use them (constantly or occasionally).

As a reminder, this stats are taken out of the Gambling Commission of U.S.A., so all the information given previously in this first part applies only to the U.S.

Next, Sports Betting Facts – Part 2.

 

For a great online experience when sports betting , try JazzSports.ag.

Author’s G+: Seth Miller.

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