Sports Betting Regulations – What You Need to Know About Official Betting

When it comes to official betting, sportsbooks have specific rules and procedures that are designed to protect their customers. These rules include how a bet becomes official, standard terms and conditions, and how a player’s wager will be processed. They also cover things like how the sportsbook will settle a bet, and when a game is officially over.

In general, you can only bet on point totals that have been made official by the sportsbook. For example, if the line is set at 48 points or higher, you can bet on the Over. If the line is lower than that, you can bet on the Under. Similarly, you can bet on the first quarter Over/Under or the halftime Over/Under. However, you are generally not allowed to place a bet on the moneyline and a point spread of the same game, or on multiple bets where the outcome of one part contributes to the outcome of another. This is called correlated betting and it is considered a big no-no in the world of sports betting.

Individuals who are affiliated with clubs at lower levels of the men’s and women’s league systems, as well as match officials at FA level 4 or below, are banned from betting on matches that they have any influence over. In addition, they are prohibited from advertising or promoting any betting activities that are forbidden under these regulations. In 1919, professional gambler Joseph Sullivan paid eight members of the Chicago White Sox team 10,000 dollars each to fix the World Series.