Official Betting

official betting

Official betting refers to wagering on a particular event or outcome that has been verified by an official, such as a game-winning field goal. In most cases, bets on such events are settled based on the official result given by the governing body for the competition in question. The governing bodies of the various sports also collaborate with regulators and independent integrity monitors to ensure that betting is conducted within accepted limits.

The NHL prohibits players and employees of its teams from placing bets on their own league games. The league also publishes Rule 21, publicly posted on dugout walls, which states: “Any player, umpire or club or league employee who bets any sum of money for profit on any game in which they have a duty to perform shall be declared permanently ineligible.”

In the case of soccer matches, all bets are settled based on the official result as defined by the rules of the respective governing body of the game, excluding injury time. In addition, all bets on markets that include more than one player (for example, first goalscorer and quarter/half-time scores) are settled only if all players involved in the market start the match.

In boxing betting, all markets are live from the opening bell and will be paid out based on the official result published by the governing body of the fight. Any subsequent amendments or appeals will not affect the original decision. Bets placed on fights that are postponed will stand if the rescheduled fight takes place within 24 hours.