In sports betting, official bets refer to wagers that are officially settled. The outcome of a bet is determined by the rules and regulations established by the sport’s governing body, which are designed to protect both the players and sportsbooks. In order for a bet to be official, it must meet a minimum number of criteria. This includes a valid score or result, and the correct venue for a game. If a bet is not official, it will be refunded by the bookmaker.
In football, the goal line and totals markets are usually considered official bets, but some accumulator and outright bets require that a match be played to its full conclusion in order to be valid. Likewise, the outcome of an Australian rules match must be decided in regular time to be considered official. However, in the event that extra time is played, all head to head bets will be settled including overtime if it is played.
Legal sports betting is now available in 24 states and Washington, DC, with new betting sites continuing to battle for market share. Colorado, for example, launched its regulated online and mobile sportsbooks in 2021 with DraftKings, FanDuel, BetRivers, and BetMGM as the initial books to go live.
Before placing your first bet, investigate each site you’re considering using. Read reviews from multiple sources, but remember that what one person thinks of a site may not be true for another. Also, check out the selection of bets offered by each site. Some are geared toward certain sports, so it’s important to find one that suits your preferences.