Sports Betting – What Is Official Betting?

Official betting refers to bets on an event that are accepted by the game’s governing body. This includes wagers on game outcomes, as well as individual player and team prop bets. A bet is considered to be official when it has been placed and the governing body declares it as such, usually after five innings of play in baseball.

Sportsbooks are not allowed to accept bets that combine both the moneyline and point spread on a single game, nor can they offer multiple bets where the outcome of one bet contributes to the outcome of another (these bets are known as correlated plays). The reason for this is that it increases the bookmaker’s exposure and increases the likelihood of losing.

New York legalized sports betting in 2019 through retail wagering at commercial and tribal casinos, with online offerings arriving in January 2022. DraftKings, FanDuel, BetRivers, and Caesars were among the first online sportsbooks to go live in the state. BetMGM and PointsBet joined them shortly afterward.

The NHL has yet to take a formal position on sports betting, but many of its teams have signed sponsorships with bookmakers that include a gambling component. The Vegas Golden Knights are the first expansion team to open an in-stadium sportsbook, and the league plans to add more gambling opportunities as they expand throughout the country.

Ohio passed a sports betting bill in December 2021 and launched its online sportsbooks on Jan. 1, 2023. Residents are able to place bets both in-person and online, though wagering on collegiate games is prohibited.