Official betting is a type of sports wagering that requires the use of official league data. It is a type of gambling that is legal in some parts of the US, and it is an alternative to other forms of gambling.
Getting started with official betting is easy. Just make sure you are placing your bets at a licensed and regulated online sportsbook that accepts bettors from your state. These sites will require a form of identification, such as a driver’s license and social security number. They will also ask you to create a password and set up security questions and answers.
How it works
During the course of a game, a number of different data sources are used by bookmakers to calculate odds for events and outcomes. These include Sportradar and Genius Sports, who supply real-time statistics and betting information.
The sports leagues are the ones who collect this data, and they have a long-standing relationship with these providers. These relationships have evolved alongside the increasing demand for real-time data in sports betting.
Legislative mandates
Two states – Illinois and Tennessee – recently passed laws mandating that to-be licensed sportsbooks purchase only official league data if they want to offer live in-play wagers. These laws define “live” wagers under different tiers, and they limit the amount of data operators can access for these bets.
These rules are a bad idea, according to the industry. They artificially constrict the marketplace by limiting the amount of data distributors can buy and then sell to sportsbooks. Moreover, they force operators into private commercial agreements with the leagues. They also allow one party to impose what is essentially a monopoly on data, resulting in a higher price for bettor transactions.