As sports betting becomes more prevalent in the US, there are a lot of questions surrounding this form of gambling. This article aims to provide a brief overview of official betting, including what it is and how it works.

Official betting is placing a wager on an outcome of a game and getting paid if that bet is successful. There are a variety of bet types, such as moneyline bets and totalizators (or flexible rate bets). The odds on each outcome change in real-time based on the amount of money placed on them, which is known as parimutuel betting.

Gambling on NHL games is prohibited, as it is in the league’s constitution and collective bargaining agreement. However, players and those who work for the NHL are allowed to bet on non-NHL events.

Attempts to fix or otherwise compromise a game for betting purposes are strictly forbidden by the league and will result in immediate dismissal. Seeking, offering, or accepting a bribe to fix a match is also a violation. A player may be banned from the league for life if he or she is found guilty of this.

In the past, the NFL was hesitant to embrace legal sports betting as they were concerned that it would negatively impact the integrity of the league. But since the Supreme Court ruling in 2018, they have embraced it and now have a network of partners to monitor the betting market and identify violators. They are even looking at putting sportsbooks inside some of their stadiums, such as the Bears and Cardinals.