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Here is an outline from SportsLine for understanding basic terms and concepts in the sports wagering industry:. Perhaps the most common question newcomers have when they see sportsbook odds is, "What do the numbers mean? While the plus and minus signs might look confusing at first, they are easily explained. Take the following listing you might see in a sportsbook:. In this example, the Giants are three-point favorites against the Cowboys. The spread is essentially a mathematical formula used to bridge the talent gap between teams and incentivize potential bettors into considering both sides. The spread is a handicap that requires the favored team to win the game by an ascribed number of points in order for the bettor to win his wager on the team.

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Sports betting exchange

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When will sports betting be legal in Michigan? Michigan passed legislation to allow sports betting in December and the first physical sportsbooks opened March Is sports betting legal in Michigan? Michigan passed legislation to allow sports betting in December and the first physical sportsbooks opened in March Is sports betting legal in Virginia?

Sports betting is legal in Virginia and residents began betting via FanDuel in January When will sports betting be legal in Virginia? When will sports betting be legal in South Dakota? Sports betting is not legal in South Dakota, but residents passed a ballot initiative in the November election, which means it's on its way.

Is sports betting legal in South Dakota? Sports betting is not legal in South Dakota, but residents passed a bill initiative in the election. Is sports betting legal in North Carolina? Sports betting is legal in North Carolina, but it's only available at two casinos, which weren't open as of early When will sports betting be legal in North Carolina?

When will sports betting be legal in Tennessee? Tennessee sports betting was legalized in and launched in Is sports betting legal in Tennessee? Is sports betting legal in Maryland? Sports betting is not legal in Maryland, but residents voted Yes to legalize sports gambling in the November election. When will sports betting be legal in Maryland? Is sports betting legal in Louisiana? Sports betting is illegal in Louisiana despite numerous attempts throughout the last couple years.

When will sports betting be legal in Louisiana? Sports betting is illegal in Louisiana despite numerous attempts to legalize it the last couple years. When will sports betting be legal in Iowa? Iowa legalized sports betting in May , becoming the 11th state to do so. Is sports betting legal in Iowa? Iowa legalized sports betting in , becoming the 11th state to pass a bill.

When will sports betting be legal in Illinois? Illinois passed sports betting legislature June and launched at physical sportsbooks March , becoming the 15th state to offer wagering. Is sports betting legal in Illinois? Illinois passed sports betting legislature in and launched at physical sportsbooks in March When will sports betting be legal in Colorado? Colorado legalized in-person and mobile sports betting November after a bill was signed by the governor and then approved by voters.

Is sports betting legal in Colorado? Colorado legalized in-person and mobile sports betting in November What are some current trends in sports betting? Exchanges are very customer-friendly. Everything is a two-way market. Traditional sportsbooks will often offer only one side of a bet.

You just need to find someone to take the other side of your action. Lack of bonuses. Top Offers. Follow Us On Social. Sportsbook Reviews. Sports Betting Calculators. How to Bet On Sports. Betting Education. Top Stories.

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That includes tighter margins and better prices, and the ability for sharp players to get big wagers down. But the Wire Act means liquidity would have to be generated state by state. FanDuel Group , whose parent company owns the Betfair Exchange , recently said exchange wagering was not a priority in the US because of those limitations.

Exchange betting in the rest of the world has never quite lived up to its potential. And like any peer-to-peer gambling ecosystem poker, DFS recreational customers are the lifeblood of the exchange ecosystem. However, Kane argued that the US culture of stock trading and investing means there is an inherent understanding of how exchanges work. Consider, Robinhood said in May it had 13 million accounts, up from 10 million at the end of Charles Schwab has nearly 13 million brokerage accounts while E-Trade is at 5.

The US sports bettor has an innate understanding of markets and trading. However, unlike a standard sportsbook that accepts your bet immediately, a betting exchange requires that your bet is matched by another customer for the wager to have action. Many exchanges set competitive odds while others allow customers to back or lay their own bets in the marketplace. Some exchanges allow a combination of both. Exchanges offer some of the best odds around. Instead, they charge a commission on a wager that is successfully matched.

Betting exchanges offer several advantages compared to traditional sportsbooks. One of the biggest advantages is the ability to lay bets or bet that an outcome will not happen. These markets are not generally available when betting at a traditional sportsbook, especially on a large scale. It also offers bettors the chance to wager on several teams or competitors to not an event or outcome. This can be a viable alternative to backing wagers on selections you may think will win the contest or competition.

Exchanges are used for hedging. Future wagers are a common type of market that allows us easy hedging opportunities, but straight bets on just about any type of market can usually be hedged at exchanges to lock in a profit. Ultimately, exchanges usually offer elite pricing and have markets that are simply not available even the largest sportsbooks online. They can be hit or miss in sometimes in terms of odds, but are an elite option for the savvy sports bettor.

The main disadvantage of exchange betting should be clear. Your bets may not always be matched. This can be an issue for smaller markets, however. Line shopping at other shops is still recommended. Their markets are efficient, but not as efficient as reduced juice sportsbooks with sharper odds.

Some reduced juice shops, particularly Pinnacle Sports, offer lower vig on their markets compared to betting exchanges. It is also worth noting for bettors who are interested in deposit bonuses, and VIP programs are almost always going to be out of luck at betting exchanges.

Exchanges may offer a small introductory bonus, but these are quite small compared to the bonuses one might find at traditional sportsbooks. However, forgoing a deposit bonus and VIP program most likely the right move , even though they can be enticing to bettors who are trying to build a bankroll. These situations should be evaluated on a case by case basis. When it comes to bonuses, payout options and speeds, and betting limits — SportsBetting.