The Rules of Official Betting

The rules of official betting are important for all bettors. They define how bets are settled and when they will pay out. They also explain how correlated plays work and how stat changes can affect the outcome of a bet. They are also a great reference for bettors to understand the rules of their state’s sportsbooks and how they differ from one another.

Official betting refers to bets that are based on official results and statistics from a sporting event. It can include wagers placed on the final score of a game, over/under bets, and player props. In order for a bet to be considered official, it must have been settled by the sportsbook and must have been based on an officially recognized source of statistical data.

Baseball games are often shortened or suspended due to weather, and a bet on a specific portion of the game (e.g., the first five innings) must be completed for a bet on that market to be paid. However, if a bet is correctly made on the winner of a game that is rained out after at least seven complete innings, it should pay out.

It is illegal to make bets on games in which a Virginia college or youth sports team participates (unless authorized by the Director). It is also illegal to offer or accept a bribe for match-fixing. It is a misdemeanor to violate the code of conduct by seeking or providing inside information that could be used to place bets on a WBSC event.