Sports gambling is the activity of predicting sports results and placing a wager (bet) on the outcome. Bettors risk money on the chance of a specific event occurring, with potential winnings and losses determined by odds set by a bookmaker or a licensed sportsbook. By 2025, 38 states and Washington D.C. had legalized sports betting, and this industry generated a record revenue of $13.71 billion from nearly $150 billion in total wagers.

Typical types of sports bets include:
Moneyline - A straightforward bet on which team or player will win the event outright.
Point Spread - A bet on the margin of victory.
Over/Under - A wager on whether the total combined score of both teams will be over or under a predetermined number set by the sportsbook.
Parlay- A single bet that combines multiple individual wagers.
Prop Bets (Proposition Bets)- These are wagers on specific occurrences or statistical achievements within a game that do not necessarily relate to the final outcome. Examples include betting on which player will score the first touchdown, the number of goals a player will score, or how many passing yards a quarterback will have.
Futures - Long-term wagers on outcomes that will be decided in the future, such as which team will win a championship or a player will win an MVP award before the season begins.
Live Betting - Placing wagers on an event that is currently in progress, with the odds changing in real-time based on the action.

All major professional sports leagues including the NFL, NBA, MLB, NHL, MSL, PGA, and WNBA have now embraced and formally partnered with sports betting companies following the 2018 Supreme Court decision that paved the way for legalized sports betting. They have moved from an oppositional stance to viewing sports betting as a significant new revenue stream and a way to increase fan engagement. Critics warn gambling can lead to serious harm to one’s health, including financial stress and bankruptcy, relationship breakdowns, family violence, mental illness and suicide. Signs that someone has a gambling problem is if they’re spending a lot of time gambling, spending less time with friends and family, have financial difficulties and debts, or if they lie, hide, steal, or deny they have a problem, and by returning to recoup losses.

Pending Legislation: H.R.2087 - SAFE Bet Act of 2025
Sponsor: Rep. Paul Tonko (NY)
Status: Referred to the House Committees on Energy and Commerce, and Natural Resources, for a period to be subsequently determined by the Speaker
House Speaker: Speaker Mike Johnson (LA)