If you’re a sports bettor, you’ve likely heard of the term “official betting.” It refers to a type of wager that is based on the official outcome of a sporting event. It is legal in many countries, including the United States.
There are a number of rules that govern sports betting, so it’s important to understand them before you start placing wagers. Here are some of the most important things to know about official betting:
The game must be officially played for bets to count, so the result of a football match that is called because of weather can’t be used in a bet. Likewise, the final score of a baseball game must be official to have a bet count.
Money lines become official once a game is five innings long — or if the home team leads after 4.5 innings. For bets on over/unders, totals and runlines, they don’t become official until the game is nine innings long or if the home team leads after 8.5 innings.
During a game, odds shift based on real-time information. In some cases, you can cash out your bet before the outcome is official. This can be a risky move, though, as you might lose more than the amount you initially put down.
Live in-game bets are the most popular form of bets in the US. They are available at many online sportsbooks and at brick-and-mortar casinos.
Bettors place their bets on either a favorite or underdog, with odds determined by the probability of each team winning. These bets are generally accompanied by a handicap, which is a point spread that adjusts for a player’s performance.
These bets can be extremely valuable, as they provide players with a unique angle on the game. However, they can also be a risky way to make a profit.
The odds are a percentage of the total amount placed on each outcome, taking into account the return rate of the bookmaker offering the bet. The higher the percentage, the lower your chance of winning the bet.
Some betting lines aren’t impacted by the length of the game, such as MLB player props and NFL spreads. Those types of bets have action when the player meets the listed appearance requirement, typically one pitch thrown for pitchers and one plate appearance for position players.
For a game to be official, it must meet the following conditions:
It must have a scheduled start time; it must be an authorized match in the calendar of a major league; and it must have official results. Those rules also apply to live in-game bets.
In a live in-game bet, the odds change in real-time according to the percentage of each possible outcome that has received exchanged with the bookmaker. This can give bettors a greater chance of winning.
An over/under bet on a team’s win total is another common live in-game bet. These bets are a great way to predict the final score of a sports game.