New Jersey and Iowa Sportsbooks Legalize Sports Betting

sports betting

Sports betting involves making a wager on the outcome of a sporting event. Those who are successful in this type of gambling are able to separate themselves from their emotional attachments to teams and players, and focus on the facts surrounding the game. In addition, they understand the math involved and know how to manage their bankrolls.

One of the most important things to remember when placing a sports bet is that more people lose than win. This is why it’s important to set a budget before you start betting and never bet more than 1% or 5% of your bankroll per play (this is known as your unit size).

Another important aspect of sports betting is knowing what each state has to offer. New Jersey voters passed a nonbinding referendum in November 2011 that instructed the legislature to legalize sports betting. The state quickly passed a bill and opened its first sportsbooks in March 2021. Then in December 2021, the state enacted an amendment to its gaming laws that allowed for online and mobile sports betting.

Iowa also rolled out sports betting in 2019. Retail options opened in September of that year, followed by the online and mobile launch in October. Initially, the state required in-person registration for sportsbook apps, but that requirement was later dropped. Currently, DraftKings, FanDuel, Caesars and PointsBet are live in the state. Eventually, the state will have as many as 25 regulated sportsbooks at maturity.