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Numerous other stadiums strategy to adhere to soon, such as Wrigley Field in Chicago and Camden Yards in Baltimore. In states that permit mobile betting, fans can bet from their seats on their phones. The tide changed in 2018 when the Supreme Court struck down a 1992 federal law that had outlawed nationwide gambling. The case, spearheaded by New Jersey and its desire to legalize gambling, left states to make a decision on their personal whether to let sports betting. Much more and much more teams in the previous two years — like the Cincinnati Reds in October— have signed lucrative partnership deals with gambling firms, some of which enable fans to bet on games at the ballpark.

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Now the very good news is, if you win your point spread bet, the vig is returned to you along with your winnings. (So if you make an $11 bet at -110 odds and win, you will get back $21.) The undesirable news? When betting the moneyline—which is absolutely nothing more than deciding on which side will win a game/occasion, regardless of victory margin—it’s all about the odds. And these odds can vary considerably based on the matchup or occasion you’re betting on. The tax hit varies based on numerous elements, but the bottom line is if you win a decent quantity of dollars betting on sports, be ready to redirect some of that dough to the taxman.


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