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Sports betting is simply the act of risking money on the outcome of a sporting event or any aspect of a sporting event. The goal is to turn a profit. Sports betting includes wagers on the moneyline, spread, over/under, parlays, props and futures.
Yes, betting is a form of gambling. Betting involves wagering money or valuables on the outcome of an event or a game of chance, with the hope of winning additional money or prizes. Gambling, in a broader sense, encompasses various activities that involve risking something of value on an uncertain outcome.