Official betting involves placing a wager on an event with the expectation that your selection will be the winner. A money line bet pays out based on the odds for the winning selection, which can be adjusted by the amount of money that is wagered on the bet. Similarly, point spread bets are priced depending on the number of points a team is expected to win or lose by. Point spreads can be adjusted as the game progresses, but the listed line at the time you place your bet is considered the official odds for betting purposes.
The official rules for a sport determine what bets are permitted and how much you can bet. For example, the NBA prohibits bets on games involving its players, and NFL rules prevent bets on games with its players. The rules also prohibit bribes to fix matches. The code defines a bribe as any inducement to bet on any match or event within a match, and it covers seeking, offering, accepting, or agreeing to accept such a bet. It also bans providing inside information that you could reasonably believe would be used for betting.
In baseball, a player can bet only on the game in which they are playing or in which they are listed to play, and can only bet with a club that is sanctioned by the MLB. The rule applies to other members of a club’s staff, including coaches and managers. A person involved with a national baseball team cannot bet on any WBSC event.