1. How To Start Sports Betting Business
2. How To Play Sports Betting
3. How To Get Into Sports Betting Industry Youtube

A job in sports betting could be ideal. Sportsbook operators hire traders, marketing execs, designers, developers product specialists, lawyers and accountants. Our definitive guide gives you the insight on this booming industry, provides ballpark salaries and shows how you can make this dream a reality. 939 Sports Betting jobs available on Indeed.com. Apply to Sports Writer, Sports Editor, Retail Betting Assistant and more! Sports Betting Explained: The Basics. Benefits of Sports Betting. Sports betting is one of the more. However, if you are considering getting into this line of work, you would be best served to do your research. For example, it would be a good idea for you to read this entire article. I have been working in the gambling industry for over twenty years, and almost half of that time was spent working on the sports betting.

The legal sports-betting market in the U.S. was worth an estimated $270 million in 2017 -- with another $2.5 billion to $3 billion in black market betting, according to research firm Eilers & Krejcik Gaming, LLC. Accordingly, the recent Supreme Court decision in Murray v. NCAA that effectively lifts the federal ban on sports betting, allowing states to make their own laws and regulations, has captured the attention of businesses and entrepreneurs across the nation.

Current gambling operators are racing to take advantage of the potential windfall headed their way, but experts say it could be a long time before new ventures can benefit from this decision. That's because most of the existing state bills already circulating specifically limit the number of companies that can work directly with casinos or race tracks.

'This means companies with past experience in the gambling marketplace, ready-to-go infrastructure and strong brand reputations will almost certainly gain selection for these mega-contracts,' says Marc Edelman, a professor of law at Baruch College who consults extensively on sports and gaming law.

Related: The History of Online Gambling (Infographic)

Edelman notes that none of the state bills proposing to allow and regulate sports gambling propose a true free market solution. That means even startup entrepreneurs with creative business ideas won't be able to simply enter the marketplace, he says.

Until now, only Nevada has allowed betting on individual games, while Delaware, Oregon and Montana have allowed limited betting. The Professional and Amateur Sports Protection Act (PASPA), enacted in 1992, exempted out those states. Now, however, all states will be allowed to pass their own laws related to sports betting, and there's also the potential Congress will attempt to enact new legislation that would govern all states equally.

As the court case has been working its way through the system the past few years, New Jersey, Pennsylvania and West Virginia have been preparing for the possibility of enacting new legislation post-PASPA. Sports Illustrated recently tracked the status of legislation in all 50 states, showing many are considering opening the door to sports betting.

Eilers & Krejcik Gaming has estimated that as many as 32 states will enact new legislation allowing sports betting within the next five years. It estimates the resulting market would be worth $6.03 billion in annual revenue -- $7.1 billion to $15.8 billion if all 50 states allowed regulated sports betting.

Related: Entrepreneurs and Gamblers Have Much in Common

You won't have to be one of the big gambling operators to take advantage of the new market, however. There are numerous opportunities for data analytics, content creation and more.

Tyler Wyatt, an independent handicapping expert who runs Three For The Money, is preparing for hundreds, if not thousands, of new companies to enter his space in the market.

'Gambling data and gambling news will initially become a commodity. Companies that can track the movements of both betting lines and the amounts of money wagered will have a product they can offer at a premium.'

Currently, Wyatt's site offers bettors the ability to submit a request about a particular game and receive back a detailed analysis with over 1,500 data sets and a projected outcome of the game. He says it's not something just anyone can jump into and make a name for themselves immediately.

Related: 11 Sports Businesses Using Entrepreneurial Skills to Disrupt the Marketplace

'I've purchased data that I didn't have, scoured the internet to find data I was missing, and spent countless sleepless nights to compile the data sets and put together the program that we have at Three For The Money.'

How To Start Sports Betting Business

While those with deep pockets might be able to simply buy the data, Wyatt says the blue sky in the market is elsewhere.

'There will be niche segments of the sports wagering market that can be capitalized. Apps that provide up-to-date player data, betting line movements, trends and more all in one place will be valuable.'

If you're one of those entrepreneurs looking to take advantage of the new opportunities, Edelman warns that you be careful to manage your risks.

'There are no shortage of gaming lawyers who will tell you exactly what you want to hear,' he says.

Related: Elite Sports Teams Are Much Better at Creating Powerful Cultures Than Startups -- Here Are 5 Tips You Can Steal

'The best lawyers will push back on ideas and encourage [you] to refine them in such a way that you are able to maintain the core elements of your business plan but at the same time encourage changes to make sure to keep your risk level manageable.'

Edelman says you should choose counsel that is mindful of the developments in state law.

'The future of your sports-gambling or interactive fantasy sports business will be driven very much by your ability to operate within the framework of state laws, and many of these laws do not yet even exist.'

In other words, it's not only entrepreneurs who will be trying to cash in on the new marketplace, but attorneys and other business advisors as well.

If you like unscripted drama, boy do I have a concept to sell you. It's called sports, and every single facet of it is must-watch television. In today's world, the rate at which we consume breaking news in the sporting world is breathtaking. The rate at which we process, analyze and form thoughts on sporting events or players is next to none. If you enjoy doing all of that and want even more, I suggest you try getting involved in sports betting. Now, before you start worrying about needing to go into the shady room at the back of your local pub, I must tell you that only happens in movies. But you don't live in Las Vegas? Well, today's technology allows us to make bets from our computer or mobile device from anywhere in the world. It's really quite simple and extremely safe to do.

If your interest is still piqued and you would like to get into the world of sports betting, let me walk you through a few important steps on how to get started and what to do or look for.

Choosing a Sportsbook(s)

First things first - you need a place to make your wagers at. If you live in Las Vegas and can physically get to a brick-and-mortar Casino to make a wager then you are all set. If you are like me and reside outside of Sin City, then you must create an account with one of the many online sportsbooks currently in market. For starters, the online sports betting industry has been thriving for the last handful of years and is only getting bigger and better. Before you create an account, I would recommend sifting through the list of Doc's sportsbook bonus guide and find one that fits your needs. Some sportsbooks offer reduced juice (5Dimes), while some offer an extensive list of in-game options and teaser options.

Some sportsbooks have a small minimum deposit requirement, but all of them offer a plethora of deposit methods. Once again, make sure to do your homework on a sportsbook before you sign up so that you are completely comfortable and understand their services.

Starting a Bankroll

Now that you've decided which sportsbooks you will create an account at, you must make your first deposit. Whether you plan on placing wagers sporadically for fun or with any sort of seriousness to turn a profit, you must be clear about your bankroll. It is vital that you separate your betting money from your normal money. This will help you keep track of whether you are actually winning or losing. However, more importantly, it will help you to avoid financial problems and avoid using money allocated for bills or groceries to fund this hobby. The more safeguards you have in place in terms of the bankroll, the better off you will be and the more enjoyable it will be.

Understanding the Odds

I understand the overwhelming feeling of looking at the odds board or hearing new lingo and not knowing what any of it means. I was new to the betting scene once before. If you are having trouble understanding the lingo, our Glossary will help you understand what every word/phrase in the industry means. In the meantime, some of the most important things to understand in the betting industry are the betting odds. There are a slew of different betting options, but the odds and prices you bet on are what will make your break your bankroll. You should understand the difference between a -115 line and a -105 line on all point spread bets. With a -115 line, you must wager $115 to win $100. With a -105 line, you will wager $105 to win a $100. While the $10 savings may not seem like a big deal at the time, trust me, it adds up over the long run. Something else to consider when trying to understand the odds is the parlay payouts. While parlays are generally sucker-bets, you want to be able to get full value if you do happen to hit one. Do your research and find out what kind of odds each sportsbook gives out on two-, three-, four-, 10- or even 12-team parlays.

Have a Game Plan

Looking at the betting board is essentially like being a kid in a candy store. There are so many amazingly good-looking options to choose from, and you want to pick a little from each shelf. In sports betting, that's the quickest way to go broke. My suggestion to you would be to pick one sport you enjoy the most or know the most about and stick to that sport. Doesn't matter if that's the NHL or MLB. The minute you start placing wagers on sports you know nothing about like WNBA or Tennis or the French Basketball League is the minute your bankroll goes from full to empty. Sticking to one sport will help you improve your betting habits and allow you to focus in and find league quirks, profitable betting situations, solid ATS teams, and everything in between. The more you know, the better educated your wager will be.

How To Play Sports Betting

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How To Get Into Sports Betting Industry Youtube

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