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In the United States, a sportsbook or a race and sports book (sometimes abbreviated as book) is a place where ♨️ a gambler can wager on various sports competitions, including golf, football, basketball, baseball, ice hockey, soccer, horse racing, greyhound racing, ♨️ boxing, and mixed martial arts. The method of betting varies with the sport and the type of game. In the ♨️ US, the Professional and Amateur Sports Protection Act of 1992 allowed only Nevada, Oregon, Montana, and Delaware to legally wager ♨️ on sports other than horse racing, greyhound racing, and jai alai; the law was ruled unconstitutional on May 14, 2024, ♨️ freeing states to legalize sports betting at their discretion.
The betting volume at sportsbooks varies throughout the year. Bettors have more ♨️ interest in certain types of sports and increase the money wagered when those sports are in season. Major sporting events ♨️ that do not follow a specific schedule, like boxing, can create peaks of activity for the sportsbooks.
Odds boards in a ♨️ Las Vegas sportsbook
Most of the United States sportsbooks are located in Nevada. In 1949, Nevada allowed bookmakers to accept bets ♨️ on horse racing and professional sports.[1] The first Nevada sportsbooks were called Turf Clubs. They were independent from the casinos ♨️ and had an informal agreement with the hotels that they would stay out of the casino business as long as ♨️ the hotels stayed out of the sportsbook business. The sportsbooks had to pay a 10 percent tax so they charged ♨️ a high vigorish to gamblers, but they still brought enough business to make a profit.
The Super Bowl is the most ♨️ popular event for the Nevada sportsbooks. They earnedR$7.2 million on theR$99 million wagered on it in 2013. Because it attracts ♨️ many unsophisticated bettors, as of January 2014 , the books had made money on 21 of the previous 23 Super ♨️ Bowls, with an average win ofR$5.5 million over the previous ten years. The most profitable Super Bowl was in 2005, ♨️ when the Philadelphia Eagles covered the spread against the favored New England Patriots, earning the booksR$15.4 million. The two losses ♨️ were in 1995—when the San Francisco 49ers defeated the San Diego Chargers—and 2008—when the favored Patriots lost to the New ♨️ York Giants, costing the booksR$2.5 million.[3]
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