Best Online Sportsbooks For 2024
The best online sportsbooks in the US are now available in nearly every state. These sports betting sites offer better odds, bigger bonuses, and cryptocurrency support.
Use our list of online betting sites to compare bonuses and features, and find out which is the best online sportsbook for you.
- US Sportsbooks
- Daily Fantasy
- Offshore Betting
Top 10 US Sportsbooks
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No matter which sport you want to bet on, the number of legal sports betting options may shock you. Over the last few years, sports betting has grown exponentially. What used to be a $1 billion intake during a month of the NFL season has grown to upwards of $10 billion in just five years.
Knowing where sports betting is legal in 2023 is easy. But, our goal is to ensure you are up to date with sportsbook law changes, sports betting news, and current odds so you always end up on top. You will find reviews of the best legal online sports betting sites for 2023 right here on our site!!
- 39 states (including Washington DC) have approved sports betting laws within their district, though one (Vermont) has yet to launch.
- Sportsbooks extend to US territories as well, with Puerto Rico having a regulated industry.
- There are over two dozen sports to bet at legal sportsbooks online and hundreds of leagues from college to pro.
- To date, land-based and mobile betting apps have taken in over $260 billion in sports bets since May 2018.
On This Page
Table of contents
Legal Sports Betting in 2024
The sports betting industry in the United States has seen significant changes in recent years, creating new avenues for states and bettors alike. With the legalization of sports betting, there has been a surge in opportunities, leading to notable growth within the sector.
This comprehensive guide offers a detailed analysis of the state of legalized sports betting across the nation, encompassing crucial aspects including market scope, revenue allocation, recent developments, essential facts, legal frameworks, historical backdrop, and valuable references.
What is the current legal status of sports betting in the U.S.?
The legal status of sports betting in the U.S. varies by state. Some states have fully legalized and regulated sports betting, while others have introduced bills or are in the process of legalizing it.
The 2018 Supreme Court decision in the case of Murphy v. NCAA allowed states to legalize sports betting, leading to its expansion across the country. To find the current status in your state, check local regulations.
Legal Sports Betting in 2024
The sports betting industry in the United States has seen significant changes in recent years, creating new avenues for states and bettors alike. With the legalization of sports betting, there has been a surge in opportunities, leading to notable growth within the sector.
This comprehensive guide offers a detailed analysis of the state of legalized sports betting across the nation, encompassing crucial aspects such as market scope, revenue allocation, recent developments, essential facts, legal frameworks, historical backdrop, and valuable references.
Types of Online Sportsbooks
3 Types of Online Sportsbooks: What You Need to Know
The rise of online sports betting has introduced a range of platforms where bettors can wager on sports and related activities. If you’re exploring online sports betting, it’s important to understand the different types of platforms available and how they operate. In this article, we’ll cover three main types of online sportsbooks: Legal US Sportsbooks, Daily Fantasy Sports Apps, and Offshore Betting Sites.
1. Legal US Sportsbooks
Overview:
Legal US sportsbooks are fully licensed and regulated by state and federal authorities. These platforms provide a safe and legal environment for US residents to place bets on sports, thanks to the 2018 Supreme Court ruling that allows states to regulate sports betting individually.
Some of the most popular platforms include:
- DraftKings Sportsbook
- FanDuel Sportsbook
- BetMGM
- Caesars Sportsbook
Features:
- Licensed and Regulated: Operate under strict legal frameworks enforced by US states. Each state sets its own rules and licensing requirements.
- Security: User funds and personal data are protected by robust cybersecurity measures, making these sportsbooks among the safest.
- Variety of Sports & Bets: Offer a wide range of sports, from major leagues (NFL, NBA, MLB) to international sports. You can place bets like moneylines, spreads, parlays, and futures.
- Deposit & Withdrawal Options: Most legal sportsbooks accept a range of payment options, such as credit/debit cards, PayPal, and bank transfers, with secure and fast withdrawals.
Pros:
- Completely legal and safe to use.
- Funds are protected by US laws.
- Accessible customer support and legal recourse.
Cons:
- Only available in states where sports betting is legalized.
- You may encounter limits on bet types or bonuses based on location.
2. Daily Fantasy Sports Apps
Overview:
While Daily Fantasy Sports (DFS) apps aren’t technically traditional sportsbooks, they allow users to participate in fantasy sports contests, where they can win real money based on the performance of their fantasy teams. Popular DFS apps like DraftKings and FanDuel offer this format and have since evolved to also include sportsbooks.
In daily fantasy sports, players create their fantasy rosters by selecting real-life athletes. Points are awarded based on the performance of those athletes in actual games.
Features:
- Player-based Competition: Instead of betting on game outcomes, users compete by drafting fantasy teams and winning based on individual player performances.
- Multiple Sports: DFS contests are available for a variety of sports, including football, basketball, baseball, and even niche options like MMA and golf.
- Frequent Payouts: Unlike traditional sports betting, where results are based on the outcome of games, DFS contests payout daily or weekly, depending on the contest.
- Skill-Based Element: There’s a strategic aspect to DFS that appeals to fans who enjoy analyzing player statistics and trends.
Pros:
- Legal in most states, even those where traditional sports betting isn’t allowed.
- Fast-paced contests with frequent opportunities to win.
- Engages users in fantasy sports leagues with a strategic focus.
Cons:
- Not technically “sports betting” in the traditional sense.
- Can be more complex for casual sports fans to understand.
- Limited to fantasy sports rather than direct game outcomes.
3. Offshore Betting Sites
Overview:
Offshore betting sites are online sportsbooks that operate from jurisdictions outside the US. These sites accept US customers, even though they are not subject to US regulations. Some well-known offshore sportsbooks include BetOnline and Bovada.
These platforms operate legally in the countries they are based in, but they operate in a legal gray area when it comes to US law.
Features:
- Unregulated by US Law: Offshore sportsbooks don’t follow US gambling regulations, which can put users at risk when it comes to payouts, security, and data protection.
- Wide Range of Betting Options: Offshore sites often offer betting on international sports, political events, esports, and more.
- Flexible Payment Options: Offshore sportsbooks frequently accept a wider range of deposit options, including cryptocurrencies, which may be appealing to some bettors.
Pros:
- Accessible in states where sports betting is not legalized.
- Often offer better odds and promotions due to less stringent regulations.
- More flexibility with bet types and deposit methods.
Cons:
- Lack of legal protections for US bettors.
- Higher risk of non-payment or account issues, with limited or no legal recourse.
- Lower levels of consumer protection, including issues with security and fraud.
Conclusion
Understanding the different types of online sportsbooks is essential for making an informed decision about where and how to place your bets. Here’s a quick summary of each type:
- Legal US Sportsbooks: The safest and most secure option for US bettors. These platforms are regulated, ensuring that your funds and personal information are protected. However, they are only available in states where sports betting has been legalized.
- Daily Fantasy Sports Apps: DFS apps offer a legal way to participate in fantasy sports contests with real money. These platforms are ideal for fans of fantasy leagues who enjoy the strategy of building a winning team, but they are not traditional sportsbooks.
- Offshore Betting Sites: While they may offer more flexibility and better odds, these sites come with significant risks due to their unregulated status in the US. Bettors should be cautious when using these platforms, as they have little legal protection.
Ultimately, if you’re looking for a secure and reliable betting experience, legal US sportsbooks are the best choice. While DFS apps are a great alternative for fantasy sports enthusiasts, offshore betting sites should be approached with caution due to their lack of regulation and potential legal issues.
Offshore vs Regulated US Sportsbooks
Sports betting has grown tremendously in recent years, especially with the legalization of sportsbooks in several US states. While regulated US sportsbooks function under state and federal laws, offshore sportsbooks often bypass these regulations. This article will break down the differences between the two, focusing on legality, safety, and tax implications.
Regulated US Sportsbooks
A regulated US sportsbook operates under the oversight of state gaming commissions and federal laws. These sportsbooks must meet strict licensing requirements, adhere to consumer protection laws, and ensure a fair betting environment. Some of the most popular regulated sportsbooks include DraftKings, FanDuel, and BetMGM. They offer various types of sports wagers while prioritizing the security and safety of users.
Offshore Sportsbooks
An offshore sportsbook is based outside the US and operates in countries that don’t have to follow US betting regulations. While they still provide sports betting services, these platforms do not adhere to US consumer protection laws, which can expose bettors to higher risks. Offshore sportsbooks tend to offer more flexible payment options, including cryptocurrencies, but their lack of regulation makes their services less secure for US bettors.
Legality of Regulated vs. Offshore Sportsbooks
Regulated US Sportsbooks
The legality of regulated US sportsbooks stems from state-specific laws. Since the Supreme Court’s 2018 decision to overturn the federal ban on sports betting, individual states have been allowed to legalize and regulate the practice. Bettors using these platforms are participating in a completely legal activity within states where sports betting is allowed.
Key Points:
- Must operate within the state’s legal framework.
- Bettors are protected by consumer rights and can seek recourse in case of disputes.
- Funds are safer due to stringent financial regulations.
Offshore Sportsbooks
Betting through offshore sportsbooks is considered illegal for US citizens. These platforms do not follow US law, which means that while they may accept US customers, they are not sanctioned by any US authority. Even though many bettors continue to use these sites, doing so carries significant legal risks, including the potential freezing of funds or losing access to winnings.
Key Points:
- Not legal in the US.
- Limited or no legal recourse if something goes wrong.
- Higher risks of fraud or non-payment of winnings.
Do You Have to Pay Taxes on Regulated and Offshore Sportsbooks?
Regulated US Sportsbooks
If you win money through a regulated US sportsbook, you are required to report it to the IRS as income. The sportsbook will issue a Form W-2G if your winnings exceed a certain threshold. Even if you do not receive a tax form, you are still required to report your gambling income. Many US sportsbooks even withhold taxes automatically.
Key Points:
- Winnings are taxed as income.
- You must report all gambling income, regardless of whether the sportsbook withholds taxes.
- Gambling losses can be deducted, but only up to the amount of your winnings.
Offshore Sportsbooks
Taxes on winnings from offshore sportsbooks are more complex. While you are still technically required to report all gambling income to the IRS, offshore sportsbooks do not issue tax forms like W-2G. This can lead to bettors neglecting to report their winnings, which is illegal. Additionally, since offshore sportsbooks operate outside the reach of US regulations, any tax implications are the sole responsibility of the bettor.
Key Points:
- You must report your winnings, but offshore platforms do not send tax forms.
- Failing to report winnings can lead to penalties.
- No automatic tax withholding, making it easy to overlook tax obligations.
Conclusion: Which is Better?
When comparing regulated US sportsbooks to offshore sportsbooks, the choice largely depends on how much risk you’re willing to take. Regulated sportsbooks are safer, legal, and offer better consumer protections, but they may have more restrictions on bets or promotional offers. Offshore sportsbooks, while often providing more flexibility and better odds, come with significant legal and financial risks.
For most US bettors, regulated sportsbooks provide the peace of mind that their funds and personal information are protected under US law. Conversely, while offshore sportsbooks may seem tempting due to fewer restrictions, their unregulated nature puts bettors at risk of fraud, legal issues, and tax complications.
Ultimately, staying within the confines of regulated sportsbooks is the safer and more responsible option for US-based sports bettors.
Best Online Sportsbooks Compared
Top 10 US Sportsbooks: Best Online US Sportsbooks Compared
Top 10 DFS Apps: Best Daily Fantasy Sports Apps Compared
Top 10 Offshore Betting Sites: Best Offshore Betting Sites Compared
Sportsbook Bonuses & Promos
Types Of Sportsbook Bonuses & Promotions
Here are some of the most common and popular welcome offers online sportsbooks offer.
- Bet & Get – Site credits offered after your first wager. on the site that pays out whether you win or lose. Bet365’s bonus is a great example of this kind of bonus.
- Second Chance Bets/No Sweat Bets – You are refunded you in bet credits if you lose your first real-money bet. These are very commonly offered and used to be known as risk free bets before regulators cracked down on this terminology citing the fact that there was inherent risk involved. BetMGM’s current welcome offer is an exemplary example of a Second Chance Bet.
- Deposit Bonus – Deposit bonuses typically offer users a matched (or partially matched) bonus in bet credits for their first deposit on the sportsbook. Desert Diamond currently offers users a deposit bonus.
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Sportsbooks often entice new customers with enticing bonuses and promotions. While these offers can provide value, it’s essential to understand the terms and conditions attached to them:
- Ongoing Promotions: Check if the sportsbook offers ongoing promotions for existing customers, such as reload bonuses, free bets, or cashback offers.
- Loyalty Programs: Explore whether the sportsbook has a loyalty program that rewards frequent bettors with exclusive perks.
- Bonus Codes: Determine if bonus codes are required to claim offers and ensure you follow the instructions accurately.
Betting Variety
Legal online sports betting in 2024 offers an extensive array of betting options. Bettors can choose from traditional bets like moneylines, point spreads, and totals, as well as prop bets, parlays, teasers, and more.
Additionally, sportsbooks often provide unique betting markets, such as player and team-specific prop bets, offering diverse opportunities to wager.
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Maybe the most exhilarating way to wager, live betting is a massive part of the online sports betting market.
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Where Can I Use An Online Sportsbook In The US?
Online sportsbooks can be used in states where sports betting is legally regulated. As of January 2023, here are some of the states that have legalized sports betting: New Jersey, Pennsylvania, Nevada, Colorado, Indiana, Illinois, Iowa, Michigan, Virginia, West Virginia, Tennessee, and more.
What U.S. states have legal sports betting?
Several U.S. states have legalized sports betting, and the landscape continues to evolve. It’s essential to note that the legal status of sports betting can change, so it’s advisable to check for the latest updates. As of January 2023, some states with legal sports betting include New Jersey, Pennsylvania, Nevada, Colorado, Indiana, Illinois, Iowa, Michigan, Virginia, West Virginia, Tennessee, and more. Additional states may have legalized sports betting since then, so stay informed about the latest developments.
What’s The Difference Between Legal Online Sportsbooks And Offshore Sportsbooks?
Legal Online Sportsbooks:
- Legal online sportsbooks are licensed and regulated by state authorities.
- They operate in compliance with U.S. laws and regulations, providing a safe and secure betting environment.
- Winnings from legal sportsbooks are subject to taxation and can be withdrawn without issues.
- Customer support is typically available and responsive.
- Legal sportsbooks offer a variety of payment options.
Offshore Sportsbooks:
- Offshore sportsbooks are based in foreign countries and may not be subject to U.S. regulations.
- They may not provide the same level of consumer protection as legal sportsbooks.
- Winnings from offshore sportsbooks may be subject to taxation, but compliance can be challenging.
- Customer support may be less reliable, and dispute resolution can be challenging.
- Payment options may be limited, and fees can apply.
What are the key differences between live and unrestricted online sports betting?
Live Online Sports Betting:
- Live online sports betting allows you to place bets on sports events in real-time, as they happen.
- You can bet on various outcomes during the game, including scores, player performances, and more.
- Live betting provides an interactive and dynamic betting experience.
Unrestricted Online Sports Betting:
- Unrestricted online sports betting refers to traditional pre-game betting, where you place bets before an event starts.
- Bets are typically placed on outcomes such as game winners, point spreads, totals, and props.
- Unrestricted betting allows for thoughtful analysis and planning before making wagers.
What is the current legal status of sports betting in the U.S.?
The legal status of sports betting in the U.S. varies by state. The Supreme Court’s 2018 decision to overturn the Professional and Amateur Sports Protection Act (PASPA) allowed states to individually legalize and regulate sports betting. Since then, many states have legalized sports betting, while others are still in the process of considering it. It’s essential to stay updated on the legal status in your specific state or jurisdiction.
How many online sportsbooks are there in the US?
The number of online sportsbooks in the U.S. is continually changing as more states legalize sports betting. There are numerous licensed online sportsbooks operating in legal jurisdictions across the country. The exact number can vary from state to state, and new sportsbooks may enter the market regularly.
What types of sports bets can players make?
Sports bettors can place various types of bets, including:
- Moneyline bets: Betting on the outright winner of a game or event.
- Point spread bets: Betting on the margin of victory.
- Totals (Over/Under) bets: Betting on the total points or goals scored in a game.
- Parlay bets: Combining multiple bets into one wager for higher potential payouts.
- Teaser bets: Similar to parlays but with adjusted point spreads or totals.
- Props (Proposition) bets: Betting on specific outcomes within a game, such as player statistics or game events.
- Futures bets: Betting on the outcome of an event that will occur in the future, such as championship winners.
How do I choose an online sportsbook?
When choosing an online sportsbook, consider the following factors:
- Licensing and regulation: Ensure the sportsbook is licensed and regulated in a legal jurisdiction.
- Reputation and reviews: Read reviews and gather information about the sportsbook’s reputation and user experiences.
- Betting options: Assess the range of sports, bet types, and markets offered.
- Bonuses and promotions: Consider the quality and fairness of bonuses, including wagering requirements.
- Odds and lines: Compare odds and lines with other sportsbooks to find the best value.
- User experience: Evaluate the user interface, mobile compatibility, and live betting features.
- Deposits and withdrawals: Check the availability of convenient and secure payment options.
- Customer support: Ensure responsive and helpful customer support is available.
Why Sign Up For Multiple Sportsbooks?
Signing up for multiple sportsbooks offers several advantages:
- Access to competitive odds: Different sportsbooks may offer better odds on specific events or markets.
- Bonus opportunities: You can take advantage of welcome bonuses and promotions from multiple sportsbooks.
- Diversification: Spreading your bets across multiple sportsbooks can help manage risk and maximize potential returns.
- Line shopping: Comparing odds and lines from different sportsbooks allows you to find the best value for your bets.