Sports betting is one of the fastest-growing entertainment markets in the world, and its popularity has surged since the US legalized it. But even casual fans and experienced “sharps” can have trouble understanding the complexities of it all. Here are a few things to know.

Official betting

Sports leagues are seeking a bigger role in shaping US state and federal sports betting policy, as they attempt to profit from the legalization of wagering on their events. They’ve become more unified in their desire for official data mandates as a means to achieve that goal. That push has supplanted the integrity fee as the leagues’ preferred method for monetizing their data.

But the question isn’t necessarily whether or not the official data is accurate, but rather whether it will add value to a wagering market that operates under a strict integrity framework. And the answer to that seems to be an emphatic no.

Regardless of the source, real-time data is essential to the success of sports betting in the United States. There are a few key players in the space, including Sportradar and Genius Sports, which have deals with each of the major sports leagues in the US.

While the NFL hasn’t been successful in its attempts to impose an official data requirement in regulated markets, it is making headway with its effort to better monitor the betting marketplace. The league has beefed up its technology, dedicated security personnel and partnered with sportsbooks and integrity firms to create a network that monitors the betting market and identifies offenders.