When you bet on sports, you’re essentially placing money behind the outcome of a game. Whether you’re betting that a team will win or lose, the odds are constantly changing based on what percentage of bettors are placing money on each possible outcome. The more money is placed on one outcome, the lower the odds will be. You can also bet on multiple outcomes and combine them into a parlay, which increases your chances of winning.
Official betting is when a bet is made on a sport or event that uses data directly from the governing body of the sport. As more states legalize sports gambling, battles over what data is required for bets have become a major issue.
The NHL is the only major professional league that has not stated a position on legalized sports betting. However, the Las Vegas Golden Knights are a part of the NHL and have signed betting sponsorship agreements with William Hill and MGM Resorts International, which will provide them with access to in-game data.
Athletes are barred from betting on NCAA sports events unless they have a waiver from their sports governing body. The ban is to prevent athletes from using inside information about a game or match, which could affect their eligibility.
Athletes can bet on other sports, including horse racing and cricket, but not on any events that are sponsored by a US regulated bookmaker or casino. Athletes are also banned from promoting or advertising any wagering activity that is prohibited by the US federal law, as well as providing insider information to bettors.