Official betting is betting on a game or event in accordance with the rules and regulations of the sports organization involved. It is a form of legalized gambling in many jurisdictions, including the United States, Australia and India. Bets may be placed online, via telephone or at a brick-and-mortar establishment. Bettors can place wagers on a variety of sporting events, including football, rugby league, cricket and Australian rules football, as well as horse racing, boxing and golf.

In baseball, players, coaches and umpires are banned from placing bets or offering tips on games they participate in. If they are found to have done so, they are permanently banned from the sport and ineligible for entry into the Hall of Fame. This rule, along with a ban on gambling in the stadiums and hotel rooms of MLB teams, are part of a public awareness campaign against illegal gambling.

New Jersey has been a leader in legal sports betting since prevailing in its Supreme Court case. Its sportsbook industry is booming thanks to a competitive operator-friendly system and the acceptance of new player models such as betting exchange Prophet. The state led all states in 2021 handle, and is now home to 21 online sportsbooks, with room for more, as well as seven brick-and-mortar sportsbooks. Kentucky passed legislation allowing sports betting last year, and opened the market with in-person and online betting on Sept. 7. Louisiana, meanwhile, passed legislation in 2022 and began operating sportsbooks in January.