Official betting is the use of league-approved data to determine odds on sports games and prop bets. It is a growing trend in the sports industry, and it’s beneficial for both the players and the league.
The NFL has recently announced a partnership with DraftKings and FanDuel that will allow these companies to integrate their betting content into NFL Network broadcasts. The move is a major step in the evolution of official betting, and it will help protect the NFL from shady bettors.
The Company’s General Terms and Conditions, together with the specific Betting Rules, apply to Client bets placed on the website. The bets are settled according to the initial results of the event or set of events chosen by the Client, except for cases when these are changed later on, for example, if the official results published on the website are amended within 24 hours after their first publication.
In football matches, bets are accepted for regular time (the time shown by the referee on the light scoreboard) and compensated time, which is added to the regular time, as long as it does not exceed the actual duration of the match. The compensated time is used to settle the odds.
In horse racing, bettors place their money on one of three possible outcomes: the horse will win, place or show. The bookmaker or course owner then takes a share of the total bet on each horse and pays out those who have picked the winner.