The Laws of Official Betting

Sports betting is a huge industry that is growing quickly in the US. It is regulated and legal in many states. But despite its popularity, there are still some aspects of the sports betting experience that may be unclear to newcomers and casual fans alike.

The Laws of Official Betting

The rules for official betting vary on a state-by-state basis, but many states allow wagering on all professional sporting events. These include NFL, MLB, NBA, and NHL games.

In some states, pregame wagering on college football and basketball is permitted. Some sportsbooks also offer player props on these events.

A player prop is a bet that entails predicting the winning team in a game. It can be based on anything from how much the home team will win to who will score the first run.

For example, a player prop on the Chicago White Sox in 1919 would have required the White Sox to win nine straight games. But a player prop on the Reds in that same year would have required them to win six straight.

The Major Leagues: Regular Season/Playoffs – All scheduled games in a specified series must be official for bets to have action, unless the result is already determined prior to all scheduled games in the specified series being official. If a game is halted, all wagers will have action until the conclusion of the game (dead heat rules apply).

American/National League Wildcard – All teams in a particular league who make the playoffs and advance to the postseason must play at least 98% of their scheduled regular season games for this bet to have action.