Official betting is a term used to describe wagers placed at bookmakers that have been approved by state or local laws. A bookmaker, also known as a bookie or sportsbook, sets odds on events for bettors to place wagers against. A bookmaker’s goal is to attract bettors and charge transaction fees as profit. While illegal bookies still operate in many states, regulated sportsbooks are now commonplace across the country.
The Supreme Court decision that allowed individual states to regulate their own sports betting market prompted an immediate rush of new operators to launch in a number of states, including the Big Ten. These sportsbooks are operated by casinos, racetracks and other licensed gambling establishments. Most offer an assortment of betting options, including parlays, money lines and over/unders.
Those who are interested in placing a bet on the NBA can find a wide variety of wagering options, including moneylines, spreads and total points. Hockey betting is another popular choice, with bettors able to place wagers on things like first goalscorer and the team’s win/loss record.
Those looking to place a bet on college basketball games can choose from several options in Iowa, which legalized sports betting in 2019. However, the state does have restrictions involving in-state collegiate games. Betting on game outcomes is permitted, but player prop bets are prohibited. Similarly, the state of Kentucky has legalized sports betting, with a handful of licensed operators accepting bets. This includes brick-and-mortar casinos as well as online sportsbooks.