Sports Betting Laws – What Is Official Betting?

Official betting is when a bet is placed and accepted by a sportsbook on a game, team or individual event. The outcome of the bet is then considered to be the official result, with all winning bets paid out and losing bets canceled. This type of betting is usually available for all events, including football games, basketball games, baseball and other team events. In addition, it is common to find odds for horse races and motor racing as well.

New Jersey was one of the first states to get into the legal sports betting game after the Supreme Court ruling, launching retail and online sportsbooks in June 2018. BetLucky and DraftKings are the two main options for the state, while other sportsbooks are expected to launch as the year goes on.

Colorado also launched in 2021, with a variety of online and retail options. Its sportsbooks include DraftKings, FanDuel, BetMGM and PointsBet. The state is also home to a number of tribal casinos that offer sports betting.

Maryland voters approved a referendum in November 2020 authorizing sports betting. The state Legislature followed through the following year, allowing both retail and online sportsbooks to operate. The launch in 2022 included six sportsbooks and apps from DraftKings, FanDuel, PlaySugarhouse, BetRivers and Caesars. The only major remaining hurdle for the state is passing a new gambling compact with its tribes. If the measure does not pass during this legislative session, it could be delayed until 2023.