Official betting is the practice of wagering on a sporting event using odds set by sportsbooks. Sportsbooks offer a variety of betting markets, including the moneyline, point spread and total points. A bettor can also bet on team and player props, game-specific wagers and same-game parlays. The simplest type of bet is the straight, in which a bettor places a bet on either the underdog or the favorite. The winner of the bet must win by more than a certain number of points, or the bet loses.

The NFL has taken steps to protect its athletes from illegal betting, including beefing up internal technology and partnering with regulators, sportsbooks and independent integrity monitors. It has also made it clear that any employee who engages in illegal betting will be subject to a minimum one-year suspension from the league. The NBA does not prohibit betting on its games, but players and those working for teams must refrain from placing bets on any NHL event if they are at team or league facilities.

Kentucky lawmakers and governor approved retail and online sportsbooks in 2023, and sports betting launched on Sept. 28. The state’s first sportsbooks include bet365, BetMGM, Caesars, DraftKings, FanDuel and Penn (ESPN Bet). SugarHouse, WynnBET and BetRivers will launch Kentucky sports betting apps soon. The state is expected to have as many as 15 online sportsbooks by the end of the year. Regulators are also working to get North Carolina’s betting apps ready for January 2024.