What Is Official Betting?

Since the Supreme Court overturned the Professional and Amateur Sports Protection Act (PASPA) in 2018, nearly half of all Americans live in states that have launched regulated sports betting. Known as official betting, these legal wagers are placed through licensed sportsbooks that must adhere to federal and state regulations regarding the integrity of the games they offer. These include a requirement to monitor injury reports and ensure that the odds on games are fair.

In addition to traditional football, baseball, and basketball bets, regulated sportsbooks also accept a variety of specialty bets. These bets range from props for boxing matches to individual player stats. They can be placed online, in-person, or over the phone, and they often have better payouts than traditional bets.

While the NBA and MLB support legal betting, they have been reluctant to endorse specific sites or apps. However, the leagues have recently taken a more pro-active approach by encouraging players and employees to play responsibly. They have also encouraged their members to sign up for the Responsible Wagering program, which is free of charge.

The National Hockey League does not have a formal policy on gambling, but the Vegas Golden Knights were the first team to open a sports book in Nevada. It is also against the NHL’s collective bargaining agreement for players and employees to gamble on NHL games. However, there are no restrictions on gambling in other sportsbooks.

Colorado voters approved legal sports betting in 2019, and it began accepting bets in May of that year. Online and mobile sportsbooks launched in December 2021, with DraftKings, FanDuel, BetRivers, and Caesars all offering bets. BetMGM and PointsBet launched shortly thereafter. Unlike some other states, the legal sportsbooks in Colorado do not allow bets on in-state collegiate teams.

During the NBA’s 2021-23 season, the total number of points scored in regular and playoff games exceeded the over/under line for the first time ever. This was largely due to the fact that the league’s new 3-game elimination format made the game more exciting, and it increased the number of high-value bets.

The upcoming 2024 NHL season will be the fourth in the league’s history, and it will feature a new playoff format and an expanded roster of teams. The expansion will likely increase the popularity of hockey bets, which are based on team and individual player statistics.

In addition to the new format, there will be several other changes for the NHL this season. One of the most notable is the addition of a shootout after a tie. The shootout is similar to a sudden death playoff, and it will involve two teams going head-to-head in an impromptu shootout after the game ends in a tied score.

While many states are now offering legal sports betting, the process for launching these markets is different from one state to the next. Some have opted for a model that requires official data, while others have adopted a more relaxed approach. In some cases, the official data requirement applies only to Tier 1 wagers, while in others it applies to all bets. The American Gaming Association supports private commercial agreements for official betting data and opposes legislative mandates.