Sports Betting – What Is Official Betting?

A wager on a team or individual to win a specific game. Also called OVER/UNDER. Point spreads fluctuate, and the actual number of points scored in a game may be more or less than the total amount wagered on an Over/Under. Regardless of the final score, the over/under number remains official for betting purposes, and a winning Over/Under bet will pay out at true odds (not the opening or closing odds).

In baseball wagering, players place money line bets. These bets are based on the money odds, which are displayed in 3-digit format and expressed as either a plus (+) or minus (-) on the electronic wagering display and wagering sheets next to the starting pitcher. The minus indicates the favorite and the plus is the underdog.

The MLB prohibits anyone involved in its teams, including managers and coaches, from placing any kind of bet on a game in which they have a direct responsibility to play or participate. Additionally, MLB rules ban any player from seeking, offering, or accepting a bribe to fix a match or event within a match, and also prohibits an individual from misusing inside information that they could reasonably believe would be used for betting purposes.

Sports betting became legal in Nevada just five years ago, after a Supreme Court ruling allowed states to regulate the activity. More than 20 states now offer sportsbooks, and the industry is expected to continue expanding as more jurisdictions adopt legislation allowing for sports gambling.