Official betting is the name given to the type of sports bets that are not based on the player’s performance, but rather on the outcome of an event. Sports betting is legal in many states in the U.S., but there are still some restrictions on how it is handled.
The Supreme Court has overturned the Professional and Amateur Sports Protection Act, a law that has kept sports betting illegal nationwide. But the NFL, NBA, MLB, and PGA Tour are all looking to establish official betting partnerships. They could benefit from the new revenue stream and the fees that the industry generates.
Currently, MLB has only one official betting partner, MGM Resorts. Its sportsbooks can use the league’s trademarks on their odds boards.
Major League Baseball has held discussions with a number of other sportsbooks, but hasn’t secured a deal. Its most recent agreement, with the Detroit Tigers, is the first MLB-branded partnership.
In September 2021, Caesars Sportsbook will begin taking bets at Chase Field’s ticket windows and betting kiosks. This is a great opportunity for the sportsbook, especially because it has access to official data from the MLB.
Among the sportsbooks that are not official partners with MLB are BetRivers, which is not licensed to operate as an Authorized Gaming Operator. However, they have been able to take bets at the Arizona Diamondbacks’ games.
Similarly, the MLB Postseason will feature a variety of promotions and markets for fans to place bets. Some sportsbooks have already created playoff markets that may not have existed before. Ultimately, MLB is focusing on finding partners to help the league establish an official sports betting strategy.