Sportsbook
In the
Winning bets are paid when the event finishes, or if not finished, when played long enough to become official; otherwise, all bets are returned. This policy can cause some confusion since there can be a difference between what the sportsbook considers official and what the sports league consider official. Customers should carefully read the sportsbook rules before placing their bets.
The betting volume at sportsbooks varies throughout the year. Bettors have more interest in certain types of sports and increase the money wagered when those sports are in season. Major sporting events that do not follow a specific schedule, like boxing, can create peaks of activity for the sportsbooks.
Nevada
This section needs additional citations for verification. (May 2012) |
Most of the United States sportsbooks are located in Nevada. In 1949, Nevada allowed bookmakers to accept bets on horse racing and professional sports.[1] The first Nevada sportsbooks were called Turf Clubs. They were independent from the casinos and had an informal agreement with the hotels that they would stay out of the casino business as long as the hotels stayed out of the sportsbook business. The sportsbooks had to pay a 10 percent tax so they charged a high vigorish to gamblers, but they still brought enough business to make a profit.
In 1974 the tax was lowered to 2 percent,
Nevada casino sportsbooks generally feature betting windows, big screen televisions, interactive betting stations, odds boards (usually computerized), papers with different odds for the day, and places to sit and watch games and races.
Some casinos use third-party operators for their sportsbooks, such as
The Super Bowl is the most popular event for the Nevada sportsbooks. They earned $7.2 million on the $99 million wagered on it in 2013. Because it attracts many unsophisticated bettors, as of January 2014[update], the books had made money on 21 of the previous 23 Super Bowls, with an average win of $5.5 million over the previous ten years. The most profitable Super Bowl was in 2005, when the Philadelphia Eagles covered the spread against the favored New England Patriots, earning the books $15.4 million. The two losses were in 1995—when the San Francisco 49ers defeated the San Diego Chargers—and 2008—when the favored Patriots lost to the New York Giants, costing the books $2.5 million.[3]
Delaware
In 2009, a bill passed to allow betting on almost every sport.
See also
- Betting exchanges
- Bookmaker
- Point shaving
- Point spread
- Sports betting
References
- ^ a b Morin, Charles H.; et al. (Commission on the Review of the National Policy Toward Gambling) (1976). Gambling in America (Report). Washington, DC: US Government Printing Office. p. 130.
- ^ Carey, Dave (May 24, 2011). "William Hill holds the cards in future of sportsbook technology". Covers. Retrieved April 1, 2012.
- ^ Drape, Joe (January 28, 2014). "Putting a Lot on the Line". The New York Times. pp. B10. Retrieved February 5, 2014.
- ^ Millman, Chad (May 13, 2009). "Delaware Allows Sports Betting". ESPN. Retrieved January 30, 2012.
- ^ Raitz, Maureen (July 4, 2009). "Major U.S. sports leagues file lawsuit to block Delaware sports betting". Sussex Countian. GateHouse Media. Retrieved April 13, 2012.
- ^ Richey, Warren (May 3, 2010). "Supreme Court turns back Delaware bid to expand sports betting". The Christian Science Monitor. Retrieved April 13, 2012.
- ^ "Ready. Set. Bet! Sports Lottery at Delaware Racetracks". Delaware Lottery. Retrieved April 13, 2012.
- ^ "Delaware Sports Lottery". Delaware Lottery. Retrieved April 30, 2012.
- ^ Lehman, Tom (May 31, 2018). "Delaware to Begin Offering Full-Scale Sports Betting on Tuesday". Salisbury, MD: WBOC-TV. Retrieved May 31, 2018.
- ^ Lehman, Tom (June 5, 2018). "Delaware Launches Expanded Sports Betting". Salisbury, MD: WBOC-TV. Retrieved June 5, 2018.
- ^ "Sports Pick - How To Bet Guide". Delaware Lottery. Retrieved May 31, 2018.