At its simplest form, official betting involves placing wagers and having those bets settled once a game or event is final. It’s an essential function that most sportsbook users don’t put too much thought into, but the best sportsbooks have a set of rules in place to limit potential disputes and cover their liabilities.
The legal sportsbook rules that govern official betting are often based on state law or the rules of a specific sport. The specifics vary, but they’re typically written to ensure that bettors know how their money will be settled and what happens if something goes wrong during a game or event.
For example, if a game is halted or suspended prior to becoming official, all bets are void unless the wager was already determined (e.g., if the over/under in a 7-inning game is 6.5 innings, the over/under will stand). The “6.5 innings rule” applies to all markets that are stated as such on the sportsbook’s website or app.
Likewise, in football, player markets and other statistically dependent markets are only considered to be settled when the game is final and the necessary statistics are available from the league’s official website or from a certified stats provider. Any subsequent statistical changes to these markets will not result in re-settlement.
While it took some time, Ohio finally legalized sports betting in late 2021. Retail and online sportsbooks launched in May of the following year, with SugarHouse leading the charge. DraftKings, FanDuel and BetRivers are among the other online sportsbooks that offer action in the state.