Online Sports Betting
Legal online sports betting is available in 24 states and Washington DC, with the most recent launch having taken place in Massachusetts. In many of the legal states, competition has been intense as the best betting sites continue to battle for market share. Kentucky sports betting will be next to launch with the state potentially going live before the start of the 2023-2024 NFL season.
Getting started with an online sportsbook is quick and simple, with a straightforward registration process that you can complete online or via mobile device in most locales. This page will highlight everything you need to know about online sports betting sites, where to get started, and the best sports betting apps and bonus offers.
Legal US sports betting sites for June 2023
Is online sports betting legal in the US?
Yes, in some places. To date, 24 states plus Washington DC have legalized online sports betting, and the list will likely continue growing in the coming years. In 2018, the US Supreme Court placed the matter of legalizing sports betting into the hands of individual states to decide. While sports betting has since become legal in a number of states, there hasn’t been any federal legislation.
Top 10 sports betting sites
Online sportsbook availability will vary by state, as some have more than 20 options, while others may have as few as one or two. And in some states, new betting sites continue to launch.
Online sports betting in Virginia launched in January 2021. The state prohibits betting on in-state college teams. The top sportsbooks in Virginia include BetMGM, DraftKings, FanDuel and Caesars.
The list of online sports betting options continues to grow. Here are the best betting sites in the US.
- FanDuel Sportsbook
- DraftKings Sportsbook
- BetMGM Sportsbook
- Caesars Sportsbook
- BetRivers Sportsbook
- Bet365 Sportsbook
- PointsBet Sportsbook
- Unibet Sportsbook
- Betway Sportsbook
- Tipico Sportsbook
The FanDuel Sportsbook app is among the smoothest and most user-friendly in the industry. It has become the go-to option for bettors in a large number of states as a result. An innovative same-game parlay feature as well as a big selection of player props are among the top features.
- App store rating: 4.8 (iOS), 4.7 (Android)
- Key takeaway: Easy-to-use app that delivers on most key betting features
- Best feature: Same game parlay
Review: FanDuel Sportsbook
The DraftKings Sportsbook app is one of the most popular in the industry as virtually everything you need is just a click or swipe away. Top features on the app include an outstanding menu layout for prop bets, a solid live betting section and a betting pools function where you can compete against other users.
- App store rating: 4.8 (iOS), 4.7 (Android)
- Key takeaway: Live betting fans will enjoy this app
- Best feature: Betting pools
Review: DraftKings Sportsbook
BetMGM has evolved into a market leader in a number of states where sports betting is legal. The BetMGM app includes a deep menu of sports available for betting, as well as “edit my bet” and “easy parlay” functions. The app can take some getting used to and isn’t known for offering the most competitive odds.
- App store rating: 4.8 (iOS), 4.6 (Android)
- Key takeaway: The number of bets make up for what the app lacks.
- Best feature: Edit My Bet
Review: BetMGM Sportsbook
Caesars Sportsbook has expanded its presence since its acquisition of William Hill’s US assets. The app provides a simple and solid sports betting experience with competitive odds. There’s also a unique rewards program for bettors and a steady stream of odds boosts and other promos.
- App store rating: 4.6 (iOS), 4.4 (Android)
- Key takeaway: Gets the player back to basics in a simple, but effective app
- Best feature: Props betting
Review: Caesars Sportsbook
BetRivers is another sportsbook that features a big menu of sports and betting options. Bettors will find useful stats and tips within the game listings in the main betting lobby, as well as a large selection of alternate lines and props. BetRivers also has a rewards program for bettors and offers its speedy cash-out approvals.
- App store rating: 2.7 (iOS), 3.9 (Android)
- Key takeaway: A good app for the beginner who likes a touch of casino gaming, too
- Best feature: iRush Rewards
Review: BetRivers Sportsbook
One of the largest sportsbooks in the world, Bet365 has begun an expansion into the US and is now available in four states with more on the way. The Bet365 app offers a wide variety of markets to wager on, and the company is known for its solid customer support. The app is beginner-friendly and can personalize the bettor experience to make it easier to find and bet on the events you like the most.
- App rating: 4.6 (iOS), 2.1 (Android)
- Key takeaway: Competitive odds and an easy-to-use app
- Best feature: Personalized display
Review: Bet365 Sportsbook
Australia-based PointsBet features a unique betting option known as PointsBetting, a high-risk, high-reward option where players win or lose beyond their initial wager based on the margin of victory or loss of their wager. PointsBet also has a “name a bet” feature where bettors can submit requests and receive odds upon approval.
- App store rating: 4.8 (iOS), 4.5 (Android)
- Key takeaway: Innovative app with unique features
- Best feature: PointsBetting
Review: PointsBet Sportsbook
One of the top sportsbooks in the country, Unibet is quickly expanding into more and more states. The Unibet app has a solid selection of live-betting options and a good menu of available props and sports to choose from. You can also live stream thousands of events on the Unibet app.
- App store rating: 3.2 (iOS), 3.9 (Android)
- Key takeaway: Solid app with great live options
- Best feature: Live streaming
Review: Unibet Sportsbook
Betway is a newer name in US sports betting circles, but it’s a well-known brand in several overseas markets. There’s plenty of experience behind the scenes, and that shows up in a clean and efficient sportsbook with regularly competitive odds and lines, along with a good betting selection.
- App store rating: 4.7 (iOS), 4.4 (Android)
- Key takeaway: Competitive odds
- Best feature: Great live-betting options
Review: Betway Sportsbook
A popular brand in Europe, Tipico uses its own software to provide a smooth, user-friendly experience. Though the app’s menu of sports betting options may not be as deep as some other apps, Tipico helps make up for it with its live-betting options. Tipico is also known to give out attractive odds boosts.
- App store rating: 4.6 (iOS), 3.8 (Android)
- Key takeaway: Solid, experienced app delivers a fine experience to players
- Best feature: Generous odds boosts
Review: Tipico Sportsbook
How we rank the best sports betting sites
Choosing the best betting sites takes many factors into account. Firstly, each legal sportsbook’s menu of available betting markets is a major influence on its ranking. The more options available to bettors, the better. Having competitive odds can also make a sportsbook stand out from its competitors.
The customer service reputation of the app is also extremely important. Bettors want quick payouts, easy deposits, and smooth communication with customer service. Sportsbooks that perform well in this area get a boost.
Users are also always looking at available bonuses, loyalty programs and odds boosts when choosing a sports betting app. Apps that offer these features are considered among the best sports betting sites on the market.
We also take into account the performance of each individual app from a user experience perspective, and consider any unique features that an app may provide. For example, DraftKings offers a popular betting pools feature that allows bettors to wager alongside friends and family, while PointsBet has a unique PointsBetting option that strays from the standard point spread method.
Live betting options, live streaming availability, app intuitiveness, usability, and personalization are also important factors in deciding the best betting sites.
Best sports betting sites for the NBA Finals
After sweeping the Los Angeles Lakers, the Denver Nuggets will represent the Western Conference in the 2023 NBA Finals. Joining them will be the Miami Heat from the East, who beat the Boston Celtics in Game 7 of the Eastern final after taking a 3-0 series lead and letting Boston battle back.
With the NBA Finals now set, you’re going to want to pick the right sportsbook to help you take advantage of all the action. Some sportsbooks offer more competitive odds when looking at spreads and totals, while others provide a deeper menu of available player props. Below is our list of the best betting sites for the NBA Finals:
- BetMGM Sportsbook — “Edit my bet’ feature lets you remove, swap or add bets after they’ve been placed.
- Caesars Sportsbook — Best for betting on player props.
- FanDuel Sportsbook — Best NBA Finals odds.
- DraftKings Sportsbook — Smooth, easy to use app.
- Bet365 Sportsbook — Daily ‘Bet Boosts’.
Newest sports betting site for May 2023
One of the newer legal online sportsbooks on the US sports betting scene, Tipico Sportsbook is one of the best betting sites available and a great option for bettors in New Jersey, Colorado, Iowa, and Ohio with more states expected to launch in the coming months.
More well known in Europe, Tipico entered the US market through a partnership with the Ocean Casino Resort in Atlantic City, New Jersey and has been expanding ever since.
Known for being user-friendly with competitive odds, the Tipico app also makes deposits and withdrawals easy, and boasts an expansive list of available betting markets.
New users can take advantage of Tipico’s deposit match bonus as well as a variety of other promotions available now.
Learn more here: Tipico Sportsbook
Where can I place a legal online sports bet?
The list of legal online sports betting states continues to grow. Currently, it’s up to 24 states plus Washington, DC, but the official launch is still pending in some spots. Florida, meanwhile, saw the launch of legal online sports betting in November 2021, but it has since been discontinued pending a lawsuit.
Arizona sports betting
Arizona legalized sports betting in April 2021 after months of maneuvering in the state Legislature and public statements of support from Gov. Doug Ducey. The subsequent launch in September 2021 featured the arrival of both retail and online sportsbooks in the state. DraftKings, FanDuel, BetMGM and Caesars were among the first books to open for business in Arizona.
Read more: Arizona sports betting apps
Colorado sports betting
Voters approved legal sports betting in Colorado in 2019. The official online and mobile rollout took place on May 1, 2020, with DraftKings, FanDuel, BetRivers and BetMGM all going live on the same day. More books have since gone live in the state.
Read more: Colorado sports betting apps
Connecticut sports betting
Legal online sports betting is available in Connecticut. The launch took place in October 2021, with DraftKings, FanDuel and PlaySugarhouse launching as the initial three apps available for bettors. The new gambling compact with the state’s tribes allows for retail betting and online sportsbooks in the state. The Gaming Division of the Department of Consumer Protection oversees betting in the state.
Read more: Connecticut sports betting
Illinois sports betting
Illinois passed sports betting legislation in 2019, with the official launch taking place in March 2020. Initially, the state required in-person registration for online and mobile bettors. That provision expired on March 5, 2022. Illinois sports bettors can download sportsbook apps, create accounts and bet from anywhere within the state. DraftKings, BetMGM, PointsBet, BetRivers and FanDuel are some of the top betting options in Illinois.
Read more: Illinois sports betting apps
Indiana sports betting
Sports betting was legalized in Indiana in 2019. The rollout happened quickly, with retail options opening up in September of that year, followed by online and mobile launch in October. DraftKings and BetRivers were the first online sports betting sites available, followed by FanDuel a month later. The list of available options continues to grow.
Read more: Indiana sports betting apps
Iowa sports betting
Iowa was also among the states that both legalized and went live with sports betting in 2019. Legislation was passed in May, with the retail and mobile launch coming in August. As of January 2021, online and mobile users can register on a sportsbook app from anywhere in the state since the in-person requirement ended on Dec. 31, 2020. DraftKings, PointsBet and Caesars are among the operators that are live in Iowa.
Read more: Iowa sports betting apps
Kansas sports betting
Kansas legalized sports betting in the spring of 2022, and it went live on Sept. 1 with six sports betting sites available. The legislation was signed into law in May by Kansas Gov. Laura Kelly and went into effect on July 1. The law tethers online sportsbooks to the four casinos with carveouts for pro sports teams who partner with a casino and the Kansas Speedway. Each casino license is permitted three online skins.
Read more: Kansas sports betting
Louisiana sports betting
Online sports betting launched in Louisiana in January 2022 and is legal in 55 of the state’s 64 parishes. There are now eight mobile apps available to bettors in the state including DraftKings, FanDuel, BetMGM and BetRivers.
Read more: Louisiana sports betting apps
Maryland sports betting
Just like in Louisiana, Maryland voters passed a referendum in November 2020, authorizing sports betting in the state. The state Legislature followed through and officially legalized retail and online betting in 2021. Maryland officially launched legal online sports betting on Nov. 23, 2022.
Read more: Maryland sports betting
Massachusetts sports betting
Massachusetts legislators struck a last-second deal in the 2022 session to bring legal sports betting to the commonwealth. Online sportsbooks launch on March 10, 2023 with six sports betting apps to start and as many as 15 permitted in the state.
Read more: Massachusetts sports betting
Michigan sports betting
Sports betting was signed into law in December 2019 in Michigan. Retail sportsbooks opened up in March 2020 and mobile sportsbook apps became legal for sports betting in Michigan in January 2021. There are close to a dozen mobile sportsbook options available in Michigan.
Read more: Michigan sports betting apps
Nevada sports betting
Nevada’s days as the only option for legal US sports betting are over. Not much has changed for the state since the SCOTUS ruling. While more known for in-person wagering at casinos throughout Las Vegas such as Westgate and Caesars, the state also has online and mobile options available from operators like BetMGM.
Read more: Nevada sports betting apps
New Hampshire sports betting
Sports betting officially debuted in New Hampshire in December 2019 after being approved by the state Legislature earlier in the year. The approval covered both retail and mobile, but the situation is unique in NH. DraftKings is the exclusive provider of online and mobile wagering in the state and also the operator of the lone retail shops.
Read more: New Hampshire betting app
New Jersey sports betting
The Garden State was one of the first to act after the landmark Supreme Court ruling. Retail sports betting rolled out in June 2018. DraftKings was the first online option in August, followed by BetRivers and FanDuel. There are now nearly two dozen NJ sports betting apps on the market.
Read more: NJ sports betting apps
New York sports betting
New York began its legal sports betting status in 2019 with retail shops at its commercial and tribal casinos. In April 2021, Gov. Andrew Cuomo added an online sports betting piece to the state budget, which passed both houses. NY mobile sports betting went live in Jan. 2022 with Caesars, DraftKings, FanDuel and BetRivers. BetMGM and PointsBet joined shortly after.
Read more: NY sports betting apps
Ohio sports betting
It was a long march for the Ohio Legislature, but lawmakers passed a sports betting bill in December 2021. It was signed by Gov. Mike DeWine shortly thereafter. Ohio online sportsbooks launched on Jan. 1, 2023. There will be as many as 25 online sportsbooks available in the state at maturity.
Read more: Ohio sports betting
Pennsylvania sports betting
Pennsylvania was among the states that moved quickly in the wake of the PASPA ruling. Retail sportsbooks opened for business in November 2018. The official launch of online sportsbooks took place in May 2019. SugarHouse was the first mobile sportsbook to go live, and it was soon joined by sister property BetRivers and others including DraftKings and FanDuel.
Read more: Pennsylvania sports betting apps
Tennessee sports betting
Tennessee approved sports betting in April 2019. It’s a unique situation as there are not expected to be any retail sportsbooks in the state. Sports bettors are now able to place mobile wagers as of November 2020 with only a handful of online sportsbooks available to choose from.
Read more: TN sports betting apps
Virginia sports betting
Sports betting was legalized in Virginia in April 2020 and officially launched its first sportsbook in January 2021. According to state law, there will be a minimum of four and as many as 12 mobile sportsbook options available.
Read more: VA sports betting apps
Washington, DC, sports betting
The city council gave its approval to sports betting in 2018, but the bill wasn’t signed into law until the following January. GambetDC, an offering run by the lottery and powered by Intralot, is the sole online and mobile option for bettors in the District since its launch in 2020. The Caesars Sportsbook app is only available in a geofenced area around Capital One Arena.
Read more: DC Sports Betting
West Virginia sports betting
West Virginia also sprang into action following the Supreme Court ruling. Retail sportsbooks opened up in September 2018. BetLucky was available for a short time as a mobile option, but it shut down the following year due to a technology dispute. DraftKings and FanDuel went live in WV soon thereafter and have since been joined by other operators.
Read more: WV sports betting apps
Wyoming sports betting
Wyoming became the first state to legalize mobile sports betting in April 2021, launching its first sportsbook app a few months later in September 2021. The market features an online-only model that is anticipated to attract multiple well-known sportsbook operators to the state.
Read more: Wyoming sports betting apps
Other legal online sports betting states
States with limitations
There’s another group of states which also have online sports betting, albeit with very limited options for users. While many of the legal markets have opted for a competitive multi-operator approach, others have settled on a single option or two to control the marketplace. Here are the details on those states.
- Arkansas: Online sports betting is legal in Arkansas, but it is available through just two apps, Betly and BetSaracen.
- Delaware: While sports betting is legal in Delaware, all wagering must take place at one of the state’s three casinos.
- Kentucky: Sports betting has been legalized in Kentucky, but will not launch until later in 2023.
- Maine: Sports betting legislation passed in Maine, but launch may not happen until sometime in 2024.
- Mississippi: Retail sports betting is the priority in the state, with just one sportsbook app accessible while on casino property only.
- Montana: In order to legally place bets in Montana, users have to be located within the geofenced footprint of an approved retail outlet.
- New Hampshire: Sports betting is overseen by the New Hampshire Lottery, which has partnered up with DraftKings for mobile betting.
- North Carolina: Sports betting is legal at three sportsbooks in the state, but there is a push to legalize online betting.
- Oregon: The Oregon Lottery is in charge of all sports betting in the state and partnered with DraftKings as the lone mobile option.
- Rhode Island: Online sports betting is controlled by the Rhode Island lottery and powered by a William Hill/IGT platform.
- South Dakota: Betting is currently limited to in-person wagering at casinos located in the city of Deadwood.
- Washington: Sports betting is legal only on tribal lands. While online betting is also legal, most betting takes place at tribal casinos.
Events to bet on
One of the convenient things about sports betting is that there are plenty of choices to consider. You can shop around for your favorite places to play, and focus on one or more bets that work for your approach, for example. The same applies to what you’re wagering on. From the most popular games and leagues to those that fly under the radar, there’s something for everyone. Here’s a look at some of the most popular sports to bet on.
- NFL odds: The NFL is the most popular sport for betting in the US. Betting on the Super Bowl is the biggest annual single-day event for sportsbooks, and they go all-out with hundreds of prop bets for bettors to consider.
- NBA odds: The NBA has firmly settled in as the second-most popular choice at sportsbooks in terms of overall volume. During the postseason and NBA Finals, each contest draws even more interest and wagers.
- MLB odds: The days of MLB being the most popular sport in America are in the past, but it still has a tremendous following. Interest will be high around Opening Day, and again during the MLB playoffs and World Series.
- NHL odds: While the NHL trails the big three in terms of overall attention, this is still a sport with an incredibly loyal and passionate following. Once the playoffs roll around, there’s a surge that continues with Stanley Cup odds until a champion is crowned.
- College basketball odds : Many seasoned handicappers shift their attention here after football season has wrapped up. Regular-season college basketball is popular, but the sport really takes over the spotlight with one of the year’s signature betting events – March Madness gets even the most casual fans off the sidelines.
- College football odds: For the fall and winter months, it’s football that controls the conversation in the world of American sports. While college football isn’t quite on the level of the NFL in terms of overall popularity, there are games on the docket where the volume is comparable to its pro counterpart. That’s especially true for bowl season and the College Football Playoff.
How to bet on sports online
While signing up to play in legal states isn’t tricky, what to do from there can lead to plenty of questions. The good news is that the learning curve for betting on sports is beatable. We have a number of dedicated resource pages that provide detailed information on all of the basics.
- Sports betting odds: Sports betting and numbers go hand-in-hand. One of the most important areas for those new to the game to understand is the odds. After you gain a little seasoning, you’ll be able to understand the most likely outcome, the potential return for winning bets, and which side the public is backing just by studying the odds.
- Moneyline: This is a basic bet and a great starting point for beginners as a result. When betting on the moneyline, you simply have to choose which side you think will win. There will be odds on both sides: negative numbers for favorites and positive for underdogs.
- Parlays: A parlay is a bet for which you combine two or more outcomes on a single slip. There’s an opportunity for great returns, but you must be right on all selections to have a winning ticket so your odds are longer. On a monthly basis, one of the biggest sources of hold for sportsbooks comes via parlay wagers.
- Spread: In a nutshell, the point spread attempts to level the playing field between two teams. It’s like a margin of victory that you must account for in your wagers. Point spread betting takes place on many sports, but it might go by different names such as run line betting for MLB or puck line betting in the NHL.
- Totals: This bet is also commonly referred to as an over/under and is a wager on the total combined score of a game. Oddsmakers will set a benchmark number, and bettors then wager on whether the actual score will be over or under that amount. The odds on both sides can move in response to betting action.
- Props: A prop bet can revolve around team or player performance during a game, or on the contest as a whole. A prop is basically a side bet on something that might or might not happen. Prop bets on player performance share a lot in common with fantasy sports. They’ve become a natural starting point for many new bettors as a result.
- Teaser: The teaser bet lets you move the point spread on two or more games. You can shift the lines in your favor, making the bet easier to win but also lowering your potential payout.
Legal vs. offshore betting
The best options available for US sports bettors come via the sites that have been approved for operations in the respective states. Gaining acceptance and approval is not easy, and those who have joined the list of approved operators have invested heavily to do so.
While there remains an active black market for sports betting via illegal offshore sites, there’s no reason to take the risk. Here are some of the main points to understand.
- The Unlawful Internet Gambling Enforcement Act was passed in 2006 to crack down on offshore operators. The law is aimed at the companies to prevent them from doing business in the US, but many still operate due to what they claim is a legal gray area.
- Offshore operators are not operating under the same rules and regulations that legal US betting sites are. There is no guarantee that your funds, data or information will be safely kept.
- Legal sports betting sites have clear terms and conditions, house rules for players to follow, a wide range of normal funding options and customer service options that can be reached easily. That’s not the case with offshore sites.
Things you can’t legally bet on in the US
Each of the individual states sets its own rules and regulations for sports betting. While there’s not complete uniformity among all of the markets, what is or isn’t allowed is one area of common ground. You won’t be able to bet on the following at legal US online sportsbooks.
- High schools sports
- Sports involving athletes under 18 years of age
- US elections – local, state, presidential, etc.
- Weather events
- Reality TV outcomes
- Oscars and other award shows
For the last item on the list, Oscar betting has been offered in a few markets to date, but sports betting is technically supposed to revolve around actual sporting events in the legal markets. The line gets a little blurry for the Super Bowl, as off the field props such as the result of the coin flip are permitted.
Another area to pay close attention to is how wagering on college sports is handled. While it’s permitted in all of the legal states, there are some restrictions in place. For example, bettors in New Jersey aren’t allowed to wager on in-state programs or events, but neighboring Pennsylvania has no such restrictions in place.
Other states, such as Colorado, allow pregame wagering on college football and basketball, but player props on those games are prohibited. For a detailed look at what is or isn’t permitted in the individual markets, our complete state guides have additional insight.
Why can’t you bet on the election or weather?
While there is often chatter about the betting odds for major political events such as the US presidential election, it remains illegal to bet on the outcome of that. There may be plenty of history attached to betting on who will be the next president, but that doesn’t mean it’s legal.
Legal and regulated operators offer odds and markets on sporting events. You won’t find options to bet on the weather or reality TV at the big shops, and there’s a simple reason for that: They’re not allowed to.
How online sports betting in USA became legal
Challenge in New Jersey
New Jersey voters passed a non-binding referendum in November 2011 that instructed the state legislature to legalize sports betting. The legislature quickly passed a bill that would have regulated sports betting at New Jersey racetracks and Atlantic City casinos. Gov. Chris Christie signed the bill into law.
The major sports leagues challenged New Jersey in court, claiming that the state was not exempted by PASPA; therefore, it could not legalize sports betting. A lower court ruling sided with the leagues, and the Third Circuit Court of Appeals affirmed it. The US Supreme Court at that time refused to hear the case.
New Jersey tried another angle. The state attempted to deregulate and decriminalize sports betting in the same venues as before. The sports leagues returned to court and challenged the new approach to sports betting. The sports leagues prevailed in the lower court and the Third Circuit Court of Appeals.
New Jersey was able to appeal and receive a rehearing in the Third Circuit, which it also lost. The Supreme Court then agreed to hear it and New Jersey won its case in May 2018.
American Gaming Association’s stance
The American Gaming Association is the gaming industry’s lobbying group. It maintains the black market of illegal gambling is too lucrative and thrives in an unregulated environment. The AGA supported the repeal of PASPA and strongly advocates for states to be able to write their own sports betting laws.
Daily fantasy sports vs. sports betting
Daily fantasy sports is believed to be legal in at least 40 states, according to the companies that promote the product.
There are big differences between daily fantasy sports and sports betting.
In sports betting, a bettor picks a team or multiple teams to win or cover a point spread. In daily fantasy sports, a user chooses athletes and enters a competition that computes a winner based on the statistics accumulated by the players in a sport.
FAQ for betting sites
Is it legal to bet on sports online?
Yes, but it depends on where you are located. Legal sports betting can be done online in many of the states mentioned above. You do not have to be a resident of a state to bet there, but you do need to be physically located within the state to place a legal online sports bet.
Is sports betting legal in Europe?
Online sports betting is legal throughout most of Europe including the UK. This includes betting shops, mobile apps, and over the Internet. Some of the best online betting sites in Europe are now operating in the US.
What is the safest betting site?
The safest options for sports betting online come via the legal and regulated operators. DraftKings and FanDuel are two examples of operators that have received approval to open for business in a number of states. Legal and regulated sites have to go through a lengthy application process, follow specific rules and regulations, and verify that customer funds are safe. That’s not the case with the unregulated options that may be available.
Why do some online sportsbooks accept cryptocurrency?
At legal online sportsbooks, cryptocurrencies aren’t on the list of approved funding options. The lone exception to the rule is in Wyoming, a state which recently legalized online sports betting and has noted that cryptos are permitted for payment. Moving forward, we could see this become an option in other legal states. For now, cryptocurrency options are most commonly found on illegal and unregulated sites.
Do I have to pay taxes on my winnings?
Yes, profits obtained from sports betting or any other type of gambling are considered taxable income in the US. If you win above a certain level, operators may even provide you with a 1099-G that states your level of winnings, and the form will be filed with the IRS, as well. Complete tracking of the deposits and withdrawals you have made for gambling purposes is a good habit to get into. For specific questions in regard to your personal situation, we encourage you to consult with a tax advisor.
Is Bovada a legal betting site?
No. Bovada is an unlicensed sports betting site. It is illegal for the company to operate in the US but players likely face no legal consequences.