What Is Official Betting?

Sports betting is placing a wager on an outcome of a sporting event. If you bet that a team will win or lose by a certain amount of points, this is called a spread bet. If you bet on the total number of runs scored in a game, this is known as an over/under. Depending on the action and the time of day, a money line will be offered. It is important to note that the odds of a bet can change from one moment to another, so the money line listed at the time you make your bet may differ from the actual odds on your ticket.

The term “official betting” refers to the bets accepted by licensed sportsbooks in Virginia and on mobile devices. The official bets will be reported to the Department and taxed as gross revenue.

Sponsor may offer a variety of contests in the B/R Betting app and Bleacher Report social media channels during seasonal or holiday periods. The rules governing each contest will be announced within the Game, on Sponsor’s B/R Betting social media channels, and in a separate set of written rules.

A permit holder must not offer a sports wager to or accept a bet from a covered person or the immediate family members of such persons. A “covered person” means an athlete; umpires, referees, and officials; personnel associated with clubs, teams, and leagues; medical professionals and athletic trainers who provide services to athletes and players; and the immediate family members of such individuals.