What Is Official Betting?

official betting

Official betting refers to any wager placed on a market that is settled on the final result as officially declared by the relevant governing body. In the case of football matches, this includes goals, points, corners and free kicks. The same applies to fights settled on the final score as determined by the boxing governing body. This includes overtime scores.

Sports betting rules vary depending on the sport, but the most common are spelled out in the league’s collective bargaining agreement. For instance, the NHL prohibits players and team staff from placing bets on any NHL game while at team facilities or on the road. This rule also covers non-NHL events such as Super Bowl squares and NCAA tournament brackets.

Likewise, NBA team and league employees cannot bet on any NBA-related event. This includes the NBA, Summer League and WNBA, as well as basketball Africa League and NBA2K League games. However, if betting is legal where a player is located, then the NBA rule does not apply to them.

Athletes are required to sign a statement acknowledging betting rules as part of their contract. This is to ensure they are aware of the risks involved and can take steps to prevent themselves from becoming a victim of match-fixing, as in the 1919 Black Sox Scandal, which led to Joe Sullivan’s famous jail sentence.

Anyone betting on a game that is cancelled and not rescheduled within 24 hours will see their bets void. This is also true for games that are abandoned and not resumed, or if any of the market rules are breached.