What Is Official Betting?

Official betting is a type of wager made on a sports league-sanctioned event. This includes bets on individual teams and players, as well as accumulator or outright bets. Winning bets are paid when the game or event ends in its entirety, unless otherwise specified. A bet may also become official when it has been played for a sufficient length of time to have an impact on the outcome of the event.

Bettors place bets on sporting events at sportsbooks, which are either retail locations that offer in-person bet placement or online/mobile platforms. The amount of money wagered at a sportsbook varies throughout the year, with major sporting events creating peaks of activity. This is especially true of sports with a short season or that do not follow a regular schedule, such as boxing.

Sports governing bodies have worked hard to ensure that bettors can place responsible wagers. This has included beefing up in-house technology, deploying security personnel and partnering with integrity firms to identify violations. However, it is not always easy to determine whether a bet is legitimate or not.

The legal sports betting industry is growing in the United States and Canada. Massachusetts launched sports betting in January of 2023, while Mississippi’s first online bets went live in August of the same year. Missouri has yet to introduce a legal sports betting market, as legislators have struggled to resolve differences between tribal casinos and horse racing tracks. But with the state surrounded by states that have legalized sports betting, it is expected to pass legislation soon.