Official betting is a way to bet on sports games by placing money down on specific outcomes. Bets can be placed on individual teams, player props and game totals. The odds of winning a wager change in real-time depending on the amount of money that is bet on each outcome. The higher the number of bets on a particular outcome, the lower the odds become. Bets are then settled based on the actual return rate of the bookmaker offering the bet.
The NHL is the first major professional league to allow its members to place bets on their own games, but it has not taken a public position on whether or not betting should be legalized in other states. The Vegas Golden Knights have signed betting partnerships with William Hill and MGM Resorts International. The NHL also works with regulators, sportsbooks and independent integrity monitors to enforce its rules on gambling. The league has a zero tolerance policy for gambling-related misconduct by its players. For example, a player who tankes a game or asks another team to lose on purpose is subject to a lifetime ban. Likewise, a player who offers gifts to an umpire is subject to a three-year ban.
All NFL players must sign a statement acknowledging the league’s rules on gambling. This is a requirement that is part of each contract. Players cannot gamble on NFL games while inside team facilities or when traveling with the club. However, players are allowed to bet on non-NFL events as long as it is legal where they live and work.