What Is Official Betting?

Official betting is the practice of placing bets on games and/or events with a sportsbook that has been designated as an authorized gaming establishment by a state. This designation is generally based on the presence of key regulations, including age and identity requirements, as well as security and privacy protections.

In addition, official betting offers a more streamlined process with the sportsbook operator and allows the player to place a bet on the game in real time. These bets are typically placed through a sportsbook’s website or mobile application. While these bets can increase a player’s winnings, the odds of winning are significantly lower than those of traditional bets.

Historically, professional sports leagues have opposed legalized sports betting, citing concerns about maintaining the integrity of the sport and the potential for match-fixing and other corrupt practices. However, since the Supreme Court struck down PASPA in 2018, the NFL and NBA have become some of the biggest stakeholders in the industry, partnering with several sportsbook operators and using official league data and logos to support their wagering platforms.

College athletics programs face unique challenges with the rise of sports betting. In 2023, 27% of autonomy schools reported dealing with a sports betting issue among student-athletes or staff members, and an April survey found that 6% of NCAA athletes reported losing more than $500 on a single bet.