Time To Join The Sports Betting World?

It's not exactly breaking news that sports betting is huge. What might be breaking news is that I think I'm going to start betting on sports. Just for some history, I placed a wager on a Pittsburgh Steelers game with a "bookie" when I was in college. (I won. Meanwhile, the bookie ended up having a fairly successful media career until last year when he abruptly did not though he seems to be working in the industry again.) I also go to the sports book whenever I visit Las Vegas, though I haven't been there in well over a decade. 

Sports betting is now easier to do than ever. It's also legal in more and more places, and it's a huge moneymaker for states. For example, Pennsylvania has a high tax rate on sports betting revenue. Since Pennsylvania legalized sports betting, they have surpassed $7 billion in total handles.  A small 2% goes to local jurisdictions while the rest goes to the state. Revenue for the Keystone State is over $500 million (this number does not include May 2021 numbers yet), and when the NFL season begins, there will be even more months of high revenues. (Even with all of this revenue, the cost to drive on the turnpike still seems staggeringly high, though that could be a topic for another blog post.)

I'll admit that I don't exactly know what all of this means other than a lot of people are making bets and casinos, websites, and states themselves are making money. Still, you see offers that are too good to pass up (though I have so far). A risk-free bet up to $1,000. Bet $1 and if an NBA team hits one 3-pointer in a game, you get $100. I'm sure there will be more of these as it gets closer to football season.

And speaking (well writing) of the upcoming football season, I imagine that we'll see an increase in revenue this season. The 2021 Super Bowl saw about half of Americans betting on the game so you could imagine how each month will be leading up to the 2022 Super Bowl. Just in case you're wondering, the Steelers' odds to win the Championship title this year are currently listed at +4000. 

Since I still haven't signed up for a site yet, is there one that you recommend? Any betting tips are also welcome!

Photo by John Greim/LightRocket via Getty