Official betting is putting money behind an outcome of a sporting event, such as a game or match. The odds of the bet are determined by the amount of money wagered on each side and the bookmaker’s return rate. The odds will change in real time as the bookmaker receives more or less money on each bet. This is similar to parimutuel betting in horse racing and dog races.
The NFL has increased its monitoring of sports betting, dedicating resources and personnel to the issue and partnering with integrity firms that monitor wagers. The league has also seen a spike in advertising for sportsbooks on TV and national websites.
Players, coaches, officials and team employees can bet on their own teams if the activity is legal where they live and is not done while inside team facilities or on the road. They can also make Super Bowl squares or NCAA tournament brackets. Fantasy basketball and other non-NBA-related bets are OK.
Those who work in the NHL, on the other hand, can bet on their own games and those of other teams. The NHL has no formal policy against sports betting and its commissioner argues the league is smaller than the NFL and NBA and less likely to be affected by problems related to gambling. However, the NHL is still focusing on education about responsible gambling and has partnered with some sportsbooks to offer betting options. The league has also made a point to promote its teams in states with legal betting.