Simple Guide on How to Bet on Sports in 2020

Betting on Sports in 2020

In 2018 the Supreme Court overturned the Professional and Amateur Sports Protection Act (PASPA) making it possible for states besides Nevada to have legal sports betting. With the legalization of sports betting sweeping the nation, there are millions of people looking to place there first bet. Depending on where you live, sports betting may already be legal. This article is designed to be a simple guide on how to bet on sports in 2020. Currently, there are 14 states that are fully up and running with legal sports betting (States in Green). On top of that, 6 states and Washington DC have passed laws making sports betting legal, but they do not yet have live betting yet(States in Yellow). Many other states have proposals for legal sports betting currently in legislation waiting to be passed (States in Blue). Many of these states could have legal sports betting by the end of 2020, and most should be legal by the end of 2021. Only 6 states have not introduced any form of sports betting legislation. 

How to Bet on Sports in 2020

Where to Bet?

If you live in one of the 14 states with legal sports betting there are several ways to place your bets. If you live in Arkansas,  New Mexico or New York mobile betting is not yet legal. Also, in Mississippi online betting is not yet offered. In these 4 states, the only way to legally bet is through physical sportsbooks located in a casino. If you live in New Hampshire the only way you can bet is through mobile betting, as physical sportsbooks are not yet legal. If you live in any of the other 9 states you can bet at physical sportsbooks and on mobile. So now you know where it’s legal, how do you bet?

US Sportsbooks

Unfortunately just because sports betting is legal in some states, no all sportsbooks are available to bet at in every state. The table below shows the Online sportsbooks that are currently operating. For more info on Casino Sportsbooks in these states and any future online sportsbooks check out The Betting Report and Legal Sports Report. 

When it comes to betting at these sportsbooks you have very little to worry about since they are regulated by the states. With that said every sportsbook is going to have slightly different terms and conditions. Before you deposit your money in any sportsbook always know how they operate.

Offshore Sportsbooks

Unlike regulated sportsbooks, you can not assume that offshore sportsbooks are protecting your money. When it comes to picking an offshore sportsbook there are many different factors that go into choosing the right one. Many offshore books offer entertainment bets that aren’t allowed at the US-based sportsbooks. When it comes to depositing money at offshore books it is not always as simple as the US books. Often Bitcoin is the fastest and easiest way to deposit money, and it is almost always the quickest way to withdrawal. While Bitcoin might sound difficult to understand at first, it is actually quite easy once you start using it. There are plenty of tutorials already on the internet on how to deposit Bitcoin. Personally, I have used Coinbase to buy and sell Bitcoin on multiple occasions with no problems. One thing to remember when using Bitcoin is that the price is very volatile, so you risk losing money if you do not convert it back to USD.

Coinbase Promo

While not every offshore sportsbook is available everywhere, for the most part you can sign up for almost any of them. The easiest way to find a good sportsbook is to read what other people are saying about them. One of the best sites for comparing sportsbooks is SBR. When it comes to reading people’s sportsbook reviews often times their reviews are sponsored by the sportsbook and they are receiving a hefty check for talking good about them. Sites like SBR give you all of the information you need about a sportsbook without being taken advantage of. Check out some of there top rated offshore books below.

Personally, I have never had an issue betting at any of the above sites. However, that doesn’t mean they will be perfect forever. Taking a couple of minutes to find the best book for you could save you a lot of headaches in the future. One final thing to consider when choosing a book is how much they allow you to bet. While this will probably not be an issue for most new gamblers, it should be considered. 

Should you Accept Bonuses?

When you sign up for a new sportsbook you will definitely be hit with an ad wanting you to take a bonus. Before you accept any bonuses from a sportsbook, you need to know the terms and conditions. Both US and offshore sportsbooks offer many forms of bonuses. Below are some of the Bonuses that are currently being offered.

Personally I rarely accept bonuses when signing up for sportsbooks. The most important thing to consider before accepting a bonus is the rollover requirement. A Rollover is the amount of money that you must wager before you can withdrawal your winnings. For example, if you deposit $100 and get a 100% cash bonus with a 10x rollover you must wager $2,000 dollars before you can withdrawal. This is calculated by taking your deposit x the bonus x the rollover. Every time you place a bet, the smaller amount between your wager and potential winnings is subtracted from the rollover. In our example, if you place an $11 wager to win $10 only $10 is subtracted from your rollover requirement, making your new rollover $1,990. If your unit size is only 1 or 2 percent of your bankroll, which it should be, it will take a long time to meet this rollover requirement. In our example, if you place all your bets at -110 odds and only bet 2% of your bankroll you would have to place over 1,000 bets to meet your rollover. This is the main reason I don’t take most bonuses. Now that’s not to say all bonuses are a bad idea, but make sure you know all the terms and conditions before you accept one.

What's Next?

Now that you are all set up and ready to place your first bet, what should you do next? If you haven’t already checked out my picks head over there to read about what I am betting on. There are many other online resources that I am sure you have already come across. If there is one piece of advice that I could give you, it’s never bet more than you can afford to lose. The unfortunate truth about gambling is that almost no one makes money. However, that doesn’t mean you can’t have fun betting on sports. Hopefully now you have a better idea of how to bet on sports in 2020.,

Chris Hogan

Content Creator for Hot Tip Bets and losing sports gambler. I am also a huge Arizona Cardinals fan. I write articles about sports betting and other related topics. To stay updated on all things related to the website make sure you are following @HotTipBetsChris on Betstamp, Twitter and Instagram.