Since the legalization of sports betting in Ohio, a new wave of sports bettors are hitting the markets. Many users are partaking in the festivities in hopes to make some quick cash. Whether that may be the Comet community or just citizens of the state, sports betting has quickly taken over.
Companies such as FanDuel, DraftKings, Barstool Sportsbook and many more thrive on the chance to get people to join their sportsbooks with the hope of making a few quick bucks. Realistically speaking, is it becoming more addictive from the adrenaline rush of winning or seeing your favorite team’s slate and wanting to “ride the wave.”
For a quick breakdown, there are normally four types of bets people can place: moneyline or winner, spread, over/under and “player props.” Moneyline consists of gambling on which team the bettor believes will win the game. Spread means betting on what a team must cover by either winning by a certain margin, losing by less or winning by the same margin. Over/under is betting on what the total points scored in the game will. “Player props” deals with picking a player’s stats in hopes they score more or less than the line given by the sportsbooks.
Sports gambling officially opened at 12:01 a.m. on New Years Day, thus having Ohio become the most recent state to legalize it, joining a long list of 35 other states.
Cincinnati Reds legend Pete Rose, who was banned from Major League Baseball in 1989 for illegally betting multiple times, ended up being the first Ohioan to place a legal bet at Hard Rock Casino in Cincinnati..
According to CNN Business, 50 million people will partake in betting on Super Bowl LVII, resulting in roughly $16 billion betted between the Kansas City Chiefs and the Philadelphia Eagles.
But how does this number truly effect the sportsbooks as a whole?
Super Bowl LVII was the first Super Bowl to be played in a state that has legalized sports betting. FanDuel announced that, at their peak, they were averaging roughly 50,000 bets every second. Many people also received payouts from the battle for the Lombardi Trophy. Overall, the sportsbooks either gained new users or found a way to keep current users hooked on playing.
Major sportsbooks also offered “no sweat bets,” where if one were to lose the bet, they were to get the amount placed back in free bets they could later place. They also offered “free bets,” which allow users to play on their platforms without spending money, but if the user can successfully win a bet from the free cash, the user can pull the winnings as a standard cash withdrawal.
Overall, with sports gambling now legal in Ohio, many residents are partaking in the new money-making endeavor. Now with citizens placing money on parlays or straight bets, the path to becoming a millionaire, or a gambling addict, is just a simple signing up on any major sportsbook.