Most Popular Sports Events for Betting in the US
The US sports betting industry has reported revenue of over $150 billion each year. Thanks to the repeal of the PASPA by SCOTUS in 2018, more and more states across the country are drafting legislation to legalize sports betting. The rise of states legalizing sports betting could see the revenue of the industry continue to grow exponentially.
While it is very enjoyable to relax on the couch and watch a sport that you enjoy, putting a bet on it could make it a lot more exciting after all; who doesn’t want some extra bucks while enjoying your favorite sports. This article will look at some of the top sporting events you can put a bet on.
Sports Events to Bet on in the USA
There are lots of sporting events that happen all over the world. To help make you the best decision to bet on, we have put together a list of the top sporting events in the United States.
One of the biggest sporting events in the US, the Super Bowl draws in a crowd like no other event. More than 100 million people tune in to enjoy the Super Bowl each year. Due to the rising number of viewers, the revenue continues to grow larger. Thanks to the American Gaming Association, the match between the San Francisco 49ers and the Kansas City Chiefs in 2020 saw betting activity of $7 billion. There are some unique bets on offer, including the coin toss and the length of the national anthem, and so on.
The NBA championship is one of the most attended sporting events in the US. In the fight to win the Larry O’Brien trophy, people will place bets on individual players and the team themselves. The hype does grow when people start to bet on the series before it even starts. The 7 game series draws in more than 20 million people per matcAlthough; it is tricky to track the number of bets made, there is a stat in Nevada that speaks massively. It’s projected that the state receives $10 million per game in the series.
One of the most action-packed and unpredictable sporting events is March Madness. This is also known as the NCAA Division 1 Men’s Basketball Tournament; the event lasts for a month (the clue is the name) and has 67 games. According to the AGA, more than $8.5 billion is bet on the tournament by nearly 50 million people in the US. The majority of the Americans betting go for brackets. While no single game can overtake the Super Bowl, however, the tournament easily obtains a handle twice as that of the Super Bowl.
It might not top the list of the most popular sports in the US, but the number of people watching it is staggering. The standard MLB tournament has around 160 games. So even if you fail to palace bets on the first one, you can catch up fast. The scandalous news of Jim McIngavle betting $11 million on Astros has increased the popularity of the sport further. Bettors usually place bets on the winner of the whole series or go on a game-by-game basis.
Another highly anticipated event that brings in a huge amount of viewers each year is the Stanley Cup. This is the annual play-off in the NHL that caps the season. The final of the NHL championship brings in huge revenue for the betting industry. Again, the massive betting lines indicate the affinity of people to bet on the game.
This is one of the most underrated yet massively popular sporting events in the US. If you enjoy horse racing, then this is the event for you. The number of viewers is massive worldwide, and in the US, the betting options are just as big. There was over $250 million bet on this event in 2019, so the opportunities are truly massive.
Both the Summer and Winter Olympics are massive sports events that get people from all over the world to tune in. These events only happen once every four years, which is what draws the big crowds in. There are a wide variety of sports in the Olympics and thus lots of events to bet on. You can either bet on who will win the finals or who will gather the most medals; our bets are always on the US to bring home the most golds, of course!
What is the Legal Scenario in the US Sports Betting Market?
Once the PAPSA was overturned, the legal aspect of betting became a lot clearer. Now that the ban on sports betting has been lifted, many states have drawn up their legislation. As a result, lots of states now have sportsbooks that are regulated by the state and are legal. This gives players a safe space to place their bets. However, when it comes to betting on college and professional events, the law can be different depending on the state.
For example, in Iowa, they ban betting on in-state collegiate events. This is to ensure the integrity of the event. This also stops the young athletes from being corrupted by bribery. If you are interested in sports betting, make sure you understand the legislation in your state first before looking to place your first bet.