Since the United States began legalizing sports betting in 2018, state governments have been carving out their own approaches to regulation. Some have permitted in-person betting at casinos, while others have opened online markets to anyone with an internet connection. And still, others have chosen to allow both options.
In baseball, a player can be banned from professional play for life if they are found guilty of violating Rule 21. That rule, which is publicly posted on dugout walls, prohibits players, umpires, and club or league officials or employees from betting any sum whatsoever on games in which they have a duty to perform. The code also forbids seeking, offering, or accepting a bribe to fix a game, and it is illegal for a player to divulge inside information for purposes of making a bet. Pete Rose, for example, was permanently banned from the sport after he accepted a bribe to throw the 1919 World Series in favor of the Chicago White Sox.
For those interested in placing a bet, it is helpful to understand the terms used in a sporting event’s odds. Those who are new to the sport can find a beginner-level breakdown of some common phrases and terms at the links below.
Legal sports betting is available in 24 states and Washington, DC. It launched in New York in 2019 with retail wagering at commercial and tribal casinos. The state’s first online sportsbooks were launched in January 2022, with DraftKings, FanDuel, Caesars, and BetMGM among the operators.