What Is Official Betting?

Official betting refers to wagering on a game that has been designated by a state or league governing body as an officially sanctioned and regulated event. It typically takes place at licensed sportsbooks, including those operating in states where legal sports betting is available. This includes retail and online sportsbooks, as well as mobile apps.

MLB has long been an advocate of legalized sports betting, and in 2021 signed a multi-year deal with FanDuel to be the US gambling giant’s co-exclusive official baseball betting partner. This adds to the league’s existing roster of official gaming partners that include DraftKings and PointsBet.

Generally, the rules of official betting require that all wagers be placed on games that are played and settled in accordance with established rules. This includes the use of official statistical data from a league’s official website or other official statistics provider. Markets that are settled using a’regular season player props’ or other statistically dependent markets, will only be settled once the relevant statistic is made available and the markets are declared official. This rule also applies to playoff and tournament games, where the official result is determined by the league’s governing body, or settlement has already been made from an official, shortened game.

Ohio is a good example of a state that moved quickly to regulate sports betting after the Supreme Court ruling. It passed legislation in 2018, and launched retail and online sportsbooks in May 2019. Ohio also removed the requirement that sports bettors must register in person, enabling players to place bets on their favorite teams from anywhere. This enabled sites like DraftKings and FanDuel to become live in the state.