What Is Official Betting?

Official betting is when a sportsbook offers odds on specific events or markets during a game, typically with a lower house edge than standard odds. These odds are usually calculated by using data provided by the league or event organizer and are subject to change during the course of a game. This is why it’s important to know the rules and regulations for your chosen sport.

NBA players can’t gamble in NBA facilities or disclose nonpublic information to sportsbooks, and they aren’t allowed to make wagers on games in which they play during the season. However, the league constitution doesn’t explicitly prohibit its members from gambling on other sports and it is legal for MLB, NHL and NFL players to gamble outside of their own leagues.

A person convicted of violating Rule 21 (which is publicly posted on dugout walls and states that any player, club or league employee or member who bets on any game in connection with which they have a duty to perform could be banned from the sport permanently) faces fines and a yearlong suspension. In addition to that, the bettor can also be banned from being inducted into the Baseball Hall of Fame, as was the case for Pete Rose when he was banned for life after a failed attempt at rigging a game in 1919.

In 2022, California voters rejected two major propositions that would have legalized sports betting in the state. Ohio began offering in-person and mobile sports bets in December of that year, while Minnesota legislation to allow for sports betting passed in August of 2022 but has yet to launch.