Official betting is gambling on sporting events where the odds are calculated in real time. This is in contrast to fixed-odds bets, where the odds are set ahead of time. The odds on a particular outcome are adjusted in proportion to the amount of money placed on that result, taking into account the bookmakers’ return rate. This means the more money is bet on a certain outcome, the lower the odds become.
Since the Supreme Court struck down PASPA, states have jumped into the sports betting market, implementing rigorous licensing regimes and partnering with sportsbooks and integrity firms to ensure games are played fairly. In some cases, the NFL has even taken on a role as an official partner to help enforce the rules of its own betting markets.
NBA players and staff can bet on sports at legal betting sites, but not from team or league facilities or while on the road with the team. They can also bet on any non-NBA sports, but no more than the amount of money they could win in a Super Bowl squares or NCAA tournament brackets pool. Players must sign a statement acknowledging that they know the rules governing gambling.
MLB’s stance on gambling is similar to the NBA’s, with its players prohibited from placing bets while at home or away from the team’s facility. The MLB’s Rule 21 stipulates that anyone who places a wager on any game in which they have a duty to perform will be permanently banned from the league. That includes players, coaches, club employees and umpires.