The Rise of Official Betting

Official betting refers to sports wagering that is conducted by entities sanctioned by a sport’s governing body. In addition to ensuring the integrity of sports betting, it also helps limit the number of people who could be exposed to problem gambling. The governing bodies regulate the legality and safety of gambling, establishing age requirements and limiting the maximum amount that can be placed on a wager. They also create educational resources for fans and athletes to help prevent gambling addiction.

The NBA has signed a multiyear deal with DraftKings and FanDuel to make them the league’s co-official sports betting partners. Both companies will have extensive rights to use NBA data and other content for their sports betting and daily fantasy products. The partnership also includes the right to display official NBA logos and marks in their sports betting platforms.

A key component of a successful sports betting strategy is knowing how to read the odds. The odds are determined by the betting providers and include information such as the riskiness of a bet, the expected winning team and the likelihood that an underdog will win. Moreover, the odds can be changed on a regular basis depending on how well or poorly a specific team is performing.

In the past, the NFL fought hard to keep sports betting out of New Jersey. But since they lost the Supreme Court case, they’ve done a full 180 and are now embracing it by partnering with sportsbooks. They’re even opening sportsbooks inside some of their stadiums.