Official betting is the process of placing wagers on events that are governed by a set of rules and regulations. The rules and regulations vary by sport. They may include how the sportsbook calculates winning bets, whether the bets are accepted and whether any bets are voided. These rules are established in order to prevent match-fixing and other forms of illegal gambling.

All bets on NBA and NCAA games will be settled based on the final result as declared by the official governing bodies, which includes overtime scores. For markets that offer a choice of players, all selected must start the game for bets to be in running. This does not apply to market bets if the game is abandoned or postponed. Affected bets will be void and stakes returned unless the game is played within 24 hours or the outcome of the market has already been decided before abandonment.

In ice hockey, all bets on Eastern and Western conference winners are determined by the teams that represent their respective conferences at the Stanley Cup playoffs. These bets will also include shootout outcomes. If a team changes its name or location after the market has been settled, it will not impact outright and tournament winner bets.

In the US, all state-licensed sportsbooks are required to promote responsible gambling and provide links to local and national organisations that can offer support. The sportsbook is also required to display an if bets banner, which lists all the ways that if bets are processed.