Thinking of betting on the Super Bowl? Here’s what you need to know

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INDIANAPOLIS, Ind. — For the first time, Hoosiers can place bets legally on the Super Bowl, so some people may try it out for the first time.

But before you put down money, there are some important things to keep in mind.

The Indiana Gaming Commission says all bets must be made through a licensed company in the state. That list includes casinos and mobile betting sites.

You can find the full list of approved licensees here.

Wagers can be made on the outcome of the game in addition to the approved wagering markets. Those wagers include the coin toss outcome, the team to win the coin toss, and even the color of Gatorade used in the post-game shower.

It's estimated that mobile betting will generate 90 percent of the state's sports betting income. Many mobile options offer site credit for the first bet placed.

If you plan to put money on the big game, but you are new to sports betting there are some basic terms you will want to learn.

The point spread is the number of points given to the underdog ahead of the game for betting purposes. The favored team must win by that many points in order to "cover the spread."

The over/under is a bet placed on whether the teams' combined points will be higher or lower than a designated number.

A proposition bet can be placed on an individual player or topic (i.e. the first team to score).

Just because betting is legal doesn't necessarily mean everyone should bet.

If you think you may have a gambling problem there are many resources available.

You can call the Indiana hotline at 800-994-8448 or head here.

Additional resources are available on the Indiana Gaming Commission website.

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