While many states are still debating sports betting, some have actually made great strides toward legalizing the industry. Others, however, are mired in disputes among stakeholders. In Ohio, sports betting is soon to be legal, with Governor Mike DeWine signing the bill into law on December 22. Mobile betting in Ohio will begin in 2022. Below, we look at the different types of bets offered in Ohio. The legality of sports betting in Ohio is dependent on several factors, including local government involvement and the support of the Ohio Sports Commission.
Legalization of sports betting
If legalized sports betting becomes legal, a surge of new services and applications will emerge. Sports outlets that discuss betting lines can monetize their content with affiliate link advertising. Legalized sports betting could create a new world of content, statistical analysis and news. Ultimately, the influx of bettors will create a new economic climate for U.S. sports. But legalizing sports betting will also create a host of new health risks.
Types of bets offered
Most sports betting websites offer a variety of different bets, including special markets. These markets aren’t strictly sports, but they include things like art and entertainment, weather, politics, and celebrity gossip. There are also special markets for popular sports such as football, such as how many goals will be scored in the first half. Those interested in sports betting are also likely to find a market for first corner, yellow card, or most goals.
Moneyline bets
A moneyline bet is a type of wager where the bettor bets on the winner of the game without relying on the point spread. The winning team must win the game outright to win the wager. In the case of a tie, the bet is refunded. The pros and cons of moneyline bets vary greatly depending on the sport. To start with, they offer less variation than other bets.
Line bets
What are line bets in sports betting? Line bets are bets on a specific outcome, or the odds of a certain team or game. Depending on the sport, lines can move up or down based on external factors, including key player injuries, suspensions, team selection, tactical announcements, weather, and more. However, sportsbooks aren’t always trying to be fair by setting lines on these events; they’re simply looking to make as much money as possible. When the lines are even, the sportsbooks can’t lose.
Parlay bets
You’ve heard of moneyline wagers, spread bets, and Over/Under bets. These wagers are popular for combining several games into one bet. Parlay bets combine two or more games into a single wager and must be correct to win. Parlay bets pay out higher than single game wagers, but they are paid out at lower odds than the true odds. For example, a common two-team NFL parlay pays out 2.6 to one, whereas the true payout is 3:1, assuming that each bet is 50/50. Parlay bets pay out more than single game wagers, but the house generally makes a profit on them, ranging from 20 to 30 percent on spread parlays to around four percent on individual sport mix parlays.
Live betting
When you bet on a sporting event, live betting can help you follow the action from any location. In-play betting allows you to place your wagers based on current results, rather than making predictions before the game starts. You can place bets on any team, player, or market as long as the game is still ongoing. To make your wagers on live events, you can log onto a sports betting website and watch the game in real-time.
