Sports Betting Laws – What Is Official Betting?

Official betting is the act of placing a wager on a sporting event. Sports betting is legal in the majority of states, but there are still some restrictions based on league rules and player contracts. For example, college athletes are not allowed to place bets on their own teams or the competition they are playing in. This could violate their contracts, which could result in sanctions against them. In addition, NCAA rules ban gambling on any events sponsored by the NCAA at any level (pro, college or youth).

Players, coaches and front office staff are prohibited from engaging in official betting. However, this doesn’t include Super Bowl squares or NCAA tournament brackets. Players are also not allowed to participate in any gambling activities while at work, including attending a game. However, this rule is not enforced if they are in their hotel room or on the team plane on the way to the game.

Colorado legalized sports betting in 2021 and launched its retail and online sites in October. Bettors are able to use DraftKings, FanDuel and other operators in the state, but a sportsbook can’t accept bets from Colorado residents on in-state college games. Colorado has since expanded its betting options to include online and mobile sportsbooks. The state’s new gambling compact with its tribes allows for online sports betting.