What Is Official Betting?

official betting

Official betting is a type of wager in which the outcome is determined by a specific set of rules or regulations established by a sport’s governing body. This is distinct from other types of bets, such as parlays or propositions, which are determined by multiple factors. In order for a bet to be considered official, it must meet a certain number of criteria, including a valid score or result and the correct venue for a game.

In a sign of the growing power that sports leagues wield in US sports betting, the NFL and MLB are pushing for regulators to require the use of official data. Such a mandate is viewed as a bad idea, forcing operators into commercial agreements with the leagues and granting one party what amounts to a monopoly on data. Moreover, the initial terms are usually not commercially reasonable.

While a player can place bets outside of team or league facilities, they cannot bet on sports events where they are playing or working for their teams. This includes games played at home and on the road, as well as any event in a WBSC competition that they are part of.

Attempts to introduce a bill in Congress in 2022 to allow for official betting were unsuccessful, but efforts are expected to be renewed in the future. In the meantime, the NBA has a rule that prohibits players from placing wagers while in its stadiums or on its properties, but this isn’t enforced by federal law and many legal sportsbooks do not follow it.