What Is Official Betting?

Official betting is wagering on a game or event that meets certain requirements for a bet to be considered an official wager. Official bets are settled by a sportsbook and paid out to bettors after meeting minimum criteria for the bet to be valid. This includes a valid score or result, the correct venue for a game, and certain bet types such as totalizators.

The growth of legal sports betting creates unique challenges for college athletics and the NCAA. A September 2023 survey of campus administrators found that 10% of Division I schools reported student-athletes or their athletics personnel had been harassed online or in person by bettors with gambling interests. In addition, billion-dollar ad campaigns can entice students and others to engage in sports betting irresponsibly. These behaviors can lead to gambling addiction and harm student-athletes’ health and well-being.

Legal sports betting is now available in most states including New Jersey and Delaware, Nevada and Michigan, Connecticut and Pennsylvania. Massachusetts and Minnesota have also passed laws to allow sports betting. Minnesota’s first in-person sportsbooks opened on January 31 and the state’s online sportsbook is expected to launch in March 2023. Colorado made significant changes to its sports betting rules after the 2020 election, allowing more types of bets and eliminating some restrictions involving in-state collegiate games.

The NBA has expanded its partnerships with DraftKings and FanDuel to make them co-official sports betting partners for this season. The league will collaborate with both companies to support responsible gambling and educate fans through social media messaging, public advocacy, and best-in-class standards and limitations for betting-related content on the NBA’s digital platforms.