Official betting is the practice of placing a wager on an event’s outcome, such as which team will win or by how many points they would win by. The odds are then calculated, accepted and settled by two willing parties. This includes players, bookmakers and bettors (casino bettors are known as “sharps”).
In the case of soccer bets, markets are settled based on the final result outlined by the competition’s governing body. Bets are settled based on 90 minutes, including injury time in both halves. This includes penalty shootouts unless otherwise stated, but does not include extra time or any ad-hoc additional time. Games that are canceled or postponed will see bets on the corresponding market void unless played within 24 hours, and stakes returned.
For baseball prop bets, the game must go for 8.5 innings or more for wagers on player markets to have action. If a player is not listed on the roster at the start of the game, or if they are deemed inactive by the NFL, all bets on their team will lose.
MLB regulations state that any member of a team’s organization or an individual associated with a WBSC-sanctioned event cannot place bets on that event. The ban applies to players, members of the coaching staff, club or league officials and anyone in an ownership, executive or administrative position at an entity that organizes a WBSC-sanctioned competition. This also includes those who provide inside information for betting purposes.