With betting on sports becoming more prevalent across the United States, it’s important for people to understand what official betting rules are. This includes how different markets operate and what the specific rules are for each sport. It’s also important to know about the risks involved when betting on sporting events and how to avoid them.
When it comes to soccer betting, the majority of markets will be settled based on the final result from the competition’s governing body, which is confirmed after the 90-minute game has finished. This will include overtime scores, unless otherwise stated. For outright bets on league tables, the outcome will be based on the official table and any amendments (such as points dedications) will not affect the results. For cup competitions, markets will be paid out based on the team that lifts the trophy, unless otherwise stated. In totalizators (also known as flexible-rate bets), odds are changed in real-time based on the share of total exchange that each possible outcome receives taking into account the bookmaker’s return rate. The higher the stake placed on a particular outcome, the lower the odds will become.
The NBA has a rule that prevents its players from placing bets on games they play in or on league-related events, even when those wagers are legal in their jurisdiction. They are also banned from making bets on any game inside their team’s facilities or when they are on the road with their club. The NBA’s betting ban is a direct descendant of the 1919 Black Sox Scandal, when professional gambler Joseph Sullivan paid eight members of the Chicago White Sox to fix the World Series.