Official betting is a form of sports wagering where the odds are established by a bookmaker and updated in real time. Odds on various outcomes are calculated based on the percentage of total bets placed on each outcome and the bookmaker’s return rate. The higher the bet volume on a specific outcome, the lower the odds will be.

Betting on your favorite team can be a fun way to add another layer of interest to a game. However, it’s important to keep your emotions in check and make a sound bet that is based on facts. It’s also a good idea to place your bets at sportsbooks that offer a variety of wagering options. This way, you can explore a wide range of lines and find the one that best suits your preferences.

While the NFL feared that legalized sports betting would harm its integrity, it’s embraced it and has multiple sportsbook partners including MGM, FanDuel, and Caesars. The NBA and MLB have similar partnerships, while the NHL is less active in the market because it’s a smaller league that isn’t as reliant on betting revenue as other sports.

New York sports betting launched in 2019 with retail wagering at commercial and tribal casinos and an online launch in 2021. The state’s new rules ban student-athletes, coaches, and athletics staff members from placing bets or providing information that could help someone make a wager. Exceptions are made for a player’s immediate family members and friends.