Choosing the best online sports betting site can be a daunting task for many people. There are several things to consider when choosing a betting site, such as where you live, whether or not your state has any restrictions on sports betting, how much money you have to wager on a given sport, and whether or not you’re taxed on your winnings.
esports betting
eSports betting in Australia is a relatively new industry. It is based on professional video game competitions. However, it has gained popularity among Aussies in recent years. It is also a lucrative industry for professional players.
It has also become an avenue for gambling. In Australia, most bets are placed through smartphones. Unlike traditional sports betting, eSports players need to provide proof of identity before they can make a wager with real money.
As of 2017, the most popular eSports game in Australia is League of Legends. It is a multiplayer online battle arena game that requires teams of five players to protect a stronghold and destroy the nexus of an opposing team.
Basketball betting
Whether you are new to basketball or a seasoned veteran, it’s never a bad idea to check out what the best bookmakers have to offer. The sport is a major draw for Aussie punters. You can watch live streams of the game, place bets on the go with the use of your mobile device, and get some great basketball betting odds.
The best basketball betting sites will also provide you with all the info you need to get started. You’ll be able to place a bet on the game, watch it in real-time, and get a winning payout in your online betting account.
MMA betting
MMA betting in Australia has gained in popularity in recent years. It’s easy to find online bookmakers that offer the opportunity to bet on the UFC. There are even apps that let you place moneyline and round bets on MMA fights.
In general, betting on MMA involves selecting a winner or an underdog. For a winning bet, a fighter must win at least three rounds. The underdog has a slightly larger payoff, but also a slightly higher risk.
The UFC has been around for a long time, and there are many iconic fighters. Tito Ortiz, Randy Couture, Chuck Liddell, Royce Gracie, and George St-Piere are just a few of the names that have stood the test of time.
Horse racing
Among all the sports that Australians bet on, horse racing continues to dominate. In fact, the sport is estimated to account for about 25% of Australians betting money.
A variety of betting formats are available. For example, a treble bet covers three selections. In some cases, a horse will be ridden by more than one jockey. Other horses can be bet on using NFTs (No-Fault Tracks).
Horse racing is one of the oldest sports in the world. It began as a primitive contest of speed. Later, sophisticated electronic monitoring equipment and large fields of runners gave it a new life. It grew into a public-entertainment business. In the 21st century, however, horse racing popularity has decreased.
Live betting
Despite the ban on in-play sports betting in Australia, live betting hasn’t completely vanished. Rather, Australia has 50 legal sports betting options, with most of them focusing on the top professional sports leagues. While the laws surrounding sports betting in Australia vary from state to state, the government is trying to regulate the gambling industry.
Australians are able to place live sports bets over the phone or by internet. While this is possible, it’s not as easy as it is in other countries. Bookmakers are not allowed to advertise promotions in Australia, so it’s not as easy as you might think to shop around.
Taxes on winnings
Depending on where you live, you may be required to pay state and local income taxes on sports betting winnings. These taxes are intended to fund public works projects. The amount you will pay depends on the total income you earn throughout the year.
There are four states that do not levy state income taxes, including Nevada, Wyoming, Florida, and Tennessee. However, you will still have to report your winnings to the IRS.
Those who win at sports betting should keep track of their winnings. In the United States, the IRS requires you to report your winnings if you win more than $300. If you win more than $600, you will also be required to pay taxes on your winnings.