Official betting offers the opportunity to bet on live sporting events with real money. This is a popular form of wagering that is available online and in regulated markets. Typically, the odds of a certain outcome are adjusted in real time according to the amount of bets placed on each possible result. This allows the bookmaker to maximise its profit while offering competitive odds.

The NFL prohibits league employees, including teams and players, from placing bets on games. Players are required to sign a contract statement acknowledging the league’s gambling rules. NBA team and player personnel are also prohibited from placing bets on games played by the WNBA, G-League or Basketball Africa League. Additionally, anyone associated with clubs at the lower level of the men’s and women’s league systems, plus match officials at FA Level 4 or below, is banned from seeking, offering or accepting a bribe to fix a football game or event.

In 2019, Iowa legalized sports gambling, allowing bets to be made at multiple in-person and online sites. However, the state only offers bets on professional sports and not collegiate games. The state also doesn’t allow bets on collegiate player props. In 2022, Massachusetts legalized sports betting, launching at three in-person locations. Legislation was introduced in Minnesota to legalize sports betting, but the state has yet to take action. Ohio sports betting launched in 2023, with in-person and mobile sportsbooks permitted. Efforts to legalize sports betting in Oklahoma have stalled.