Bettors are missing a lot of shots when it comes to parlay bets, and online-betting companies are cashing in. Illustration: Alex Nabaum
Online sports betting has soared in popularity in the five years since a 2018 Supreme Court decision cleared the way for its legalization in the U.S. So far, more than two dozen states and the District of Columbia have embraced online sports betting and others are considering it.
But there is a key question—familiar to investors in financial markets—that potential online bettors might want to consider: What are the average overall returns?