Sports betting has become a huge business. Almost half of the country now lives in a state where you can bet legally on sports. The Times is working on a series of stories about the industry. Eric Lipton is one of the reporters on that project. He joins us today on FRESH AIR to talk about how sports teams have embraced this new opportunity.
LIPTON: Well, I think a lot of sports teams see it as an opportunity for new revenue streams and it also increases engagement in games. It makes the fan feel like they actually have something riding on the game — not just a ticket to go to a game or some merchandise but actually money that might be won or lost.
There are many different types of bets to choose from, including moneylines and spreads, but the most common are parlays and totals. A totals bet is a wager on the combined score of two teams. If the final adjusted score is exactly the same as the proposed total, the bet is a push and you receive your original stake back.
Another thing that is important to remember when placing a bet is that you should never chase a good win with more bets, this is known as going on tilt and it leads to bad decisions that will usually result in losses. Always have a plan and stick to it. It is also a good idea to do your homework and check out online reviews of sports betting services before signing up with them. Make sure that they are legit and not promising things that are too good to be true.