Ladies and gentlemen, it’s been confirmed. The Kansas City Chiefs and Tampa Bay Buccaneers are facing off at the Super Bowl LV on the 7th of February 2021. While these are very exciting times, here are things you need to know when planning to wager on the Super Bowl.
Legal gambling website PlayUSA believes legal bets will amount to over $500 million this year. That is $200 million more compared to last year’s bets. This huge increase could be due to either of the two factors: first, sports betting has surged in popularity these days, or, two, 7 more states have legalized online betting in 2020, bringing the total to 15 states where online betting is legal. These states are: Arkansas, Colorado, Delaware, Illinois, Indiana, Iowa, Nevada, New Hampshire, New Jersey, New York, Michigan, Mississippi, Montana, Oregon, Pennsylvania, Rhode Island, Tennessee, Virginia, and South Virginia.
Now there are some things you’ve got to be aware of when betting on this year’s Super Bowl. First, check whether sports betting is legal in your state. If so, know what the rules are. Because of the Professional and Amateur Sports Act that was passed down in 2018, states had individual powers to legalize sports betting. This means rules will vary from state to state. Some may accept in-person, online, and mobile betting, while other states may accept only in-person betting.
Once you’ve figured out whether sports betting is legal in your state, the next step is to look for a provider and a legal one at that. Usually, these are casinos. If your state accepts online betting, just simply find an online casino within the state.
Lastly, and probably the most important, know how to bet. Do extensive research that will help you figure out trends and understand how the whole thing plays out. If you think one player will win the MVP this year, do your research and understand the odds because your money is at stake here. Only put in money you can afford to lose. Betting more than what you can afford to lose might put you in great financial trouble if you lose.