What You Need to Know About Official Betting

Official betting is a type of sports wagering that takes place in states where gambling on professional sports events is legal. This type of betting is available through sportsbooks that offer online or mobile betting apps and in land-based casinos. However, it’s important to remember that there are certain rules and regulations that need to be followed when placing a wager on an official event.

All bets will be settled based on the official result of each game as specified by the league’s official governing body, including overtime scores. Unless otherwise stated, bets on player prop markets are settled based on statistics made available by the league’s official statistical provider. In the event of a game being abandoned or postponed, bets placed will stand as long as the market is rescheduled within 24 hours and all markets have been deemed official by the governing body of the competition.

Players and team officials who violate the NFL’s rule against betting on games in which they play or work are subject to a minimum one-year suspension. In addition, individuals who violate the NFL’s code and seek, accept or offer a bribe to fix a game or individual contest within a game are banned from participating in any form of football betting activity.

The NHL has no public position on the issue of sports betting, but some teams in the league have sponsorship agreements with betting companies. The expansion Vegas Golden Knights signed a sponsorship deal with William Hill in 2017, and other NHL clubs have entered into similar partnerships with betting operators.