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Sports gambling establishment

In the United States, a sportsbook or a race and sports book (sometimes abbreviated as book) is a 0️⃣ place where a gambler can wager on various sports competitions, including golf, football, basketball, baseball, ice hockey, soccer, horse racing, 0️⃣ greyhound racing, boxing, and mixed martial arts. The method of betting varies with the sport and the type of game. 0️⃣ In the US, the Professional and Amateur Sports Protection Act of 1992 allowed only Nevada, Oregon, Montana, and Delaware to 0️⃣ legally wager on sports other than horse racing, greyhound racing, and jai alai; the law was ruled unconstitutional on May 0️⃣ 14, 2024, freeing states to legalize sports betting at their discretion.

Winning bets are paid when the event finishes, or if 0️⃣ not finished, when played long enough to become official; otherwise, all bets are returned. This policy can cause some confusion 0️⃣ since there can be a difference between what the sportsbook considers official and what the sports league consider official. Customers 0️⃣ should carefully read the sportsbook rules before placing their bets.

The betting volume at sportsbooks varies throughout the year. Bettors have 0️⃣ more interest in certain types of sports and increase the money wagered when those sports are in season. Major sporting 0️⃣ events that do not follow a specific schedule, like boxing, can create peaks of activity for the sportsbooks.

Nevada [ edit 0️⃣ ]

Odds boards in a Las Vegas sportsbook

Most of the United States sportsbooks are located in Nevada. In 1949, Nevada allowed 0️⃣ bookmakers to accept bets on horse racing and professional sports.[1] The first Nevada sportsbooks were called Turf Clubs. They were 0️⃣ independent from the casinos and had an informal agreement with the hotels that they would stay out of the casino 0️⃣ business as long as the hotels stayed out of the sportsbook business. The sportsbooks had to pay a 10 percent 0️⃣ tax so they charged a high vigorish to gamblers, but they still brought enough business to make a profit.

In 1974 0️⃣ the tax was lowered to 2 percent,[1] in 1983 to 0.25 percent, and in 1975 Frank Rosenthal, who ran the 0️⃣ Stardust Casino, convinced legislators to allow sportsbooks in the casinos, and soon nearly all of the casinos added them. The 0️⃣ turf clubs were no longer able to compete and eventually all closed.

Nevada casino sportsbooks generally feature betting windows, big screen 0️⃣ televisions, interactive betting stations, odds boards (usually computerized), papers with different odds for the day, and places to sit and 0️⃣ watch games and races.

Some casinos use third-party operators for their sportsbooks, such as Cantor Gaming, Leroy's, Lucky's, and Club Cal 0️⃣ Neva. In 2011, British bookmaker William Hill agreed to buy the Leroy's, the Lucky's, and the Cal Neva chains, which 0️⃣ would give it control of 115 of the state's 183 books.[2]

The Super Bowl is the most popular event for the 0️⃣ Nevada sportsbooks. They earnedR$7.2 million on theR$99 million wagered on it in 2013. Because it attracts many unsophisticated bettors, as 0️⃣ of January 2014 , the books had made money on 21 of the previous 23 Super Bowls, with an average 0️⃣ win ofR$5.5 million over the previous ten years. The most profitable Super Bowl was in 2005, when the Philadelphia Eagles 0️⃣ covered the spread against the favored New England Patriots, earning the booksR$15.4 million. The two losses were in 1995—when the 0️⃣ San Francisco 49ers defeated the San Diego Chargers—and 2008—when the favored Patriots lost to the New York Giants, costing the 0️⃣ booksR$2.5 million.[3]

Delaware [ edit ]

In 2009, a bill passed to allow betting on almost every sport.[4] That year, the NFL, 0️⃣ MLB, NHL, NBA, and NCAA filed a lawsuit against the state of Delaware, claiming their sports books were violating federal 0️⃣ law.[5] The US Supreme Court ruled that the law partially violated the federal law, and Delaware was only allowed to 0️⃣ offer parlays on NFL games.[6] Delaware's three racetrack casinos—Dover Downs, Harrington Raceway & Casino, and Delaware Park Racetrack—have sports books.[7] 0️⃣ Each sportsbook has multiple televisions, large tote boards and stations for people to wager. During the 2011 NFL season, the 0️⃣ three sports books generatedR$4.4 million in revenue for the state.[8] On June 5, 2024, the casino sportsbooks in Delaware expanded 0️⃣ sports betting to single-game and championship wagers on professional and college sports (excluding Delaware college teams) including football, baseball, basketball, 0️⃣ hockey, soccer, boxing/MMA, golf, and auto racing.[9][10][11]

See also [ edit ]

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