When Kevin Durant and the US men’s basketball team take the court in Tokyo, millions of American fans will be able to bet on their Olympic victory for the first time. Since they’re almost a sure shot to win, bettors might not win much.
Until recently, only Nevada offered legal sports betting in the US. But a 2018 ruling by the US Supreme Court changed the American sports landscape forever by striking down a 1992 federal law effectively banning sports betting in most of the country. The ruling, coming just three months after the Winter Olympics held in Pyeongchang, South Korea, means this year’s Games in Japan will be the first in which Americans no longer have to travel to Las Vegas to wager on the Olympics.
Many will now be able to place bets on their smartphones. In all, 16 states and the District of Columbia have fully legalized sports betting. Nine more have legalized it but haven’t started processing bets yet.
An entire industry has popped up to support—and profit off—the new rules. In some states, sports betting can still only take place in person at casinos or stadiums, but more than a dozen states allow online sports betting, meaning anyone over the age of 21 can download an app or visit a website and instantly place bets if they’re located in a state that allows it.
But the gambling experience varies by jurisdiction. Betting websites FanDuel and DraftKings, which serve eight and 13 states respectively, offer diverse options: users can bet on individual matches and medal results for individual competitions ahead of the games. Plus, many of the sportsbooks (those accepting and paying out bets) will offer some form of live sports betting for many sports so fans can take advantage of updating odds while competition unfolds.
