Official betting is a form of sports wagering in which a winning bet is unequivocally determined prior to acceptance or payment. Its goal is to protect the integrity of a game and ensure that bettors receive accurate odds before placing a wager. It also prevents betting from being influenced by inside information. It’s most common in horse racing and dog racing, but is growing in popularity with some states that have legalized sports betting.
In a partnership with a sportsbook, a sports league allows the book to use its official data and logos in advertising to attract bettors. In return, the sportsbook pays a licensing fee to the sports league for its usage. This is a win-win for both sides, as the league is able to generate additional revenue and the sportsbook gains name recognition in its market.
NBA players and employees are prohibited from betting on any NBA game, including those played in the WNBA, G-League, and Basketball Africa League, if sports gambling is legal where they are. However, if they’re not at team facilities or on the road with their teams, it’s fine to place bets on other events.
In addition to partnering with sportsbooks, sports leagues have their own partnerships with teams that include a combination of sponsorships and signage at arenas. These partnerships help legitimize the industry and can bring in new customers. Many of these relationships are formed as part of a marketing strategy that includes celebrity endorsements.