After the Supreme Court’s ruling on sports betting, more states are allowing wagering on professional and collegiate sports events. Some have even legalized online sports gambling. While it’s important to choose a licensed and regulated bookmaker, it is also vital that you understand the rules of official betting so your wagering experience is as seamless as possible.
Generally, only sportsbooks that are a part of the state’s regulatory body can offer official betting. This is a requirement that ensures the integrity of the games, fairness of bets and legal protections for customers. It’s best to only place bets on reputable sites with a strong track record and an excellent reputation for customer support.
A permit holder is defined as any person or entity that (i) offers sports betting; (ii) operates a sportsbook; (iii) owns, controls, or holds a pecuniary interest in a sportbook; (iv) owns, controls, or holds ten percent or more of the voting securities or other ownership interests in an entity that offers sports betting; or (v) owns, controls, or holds less than five percent of the voting securities or other ownership interests in a sportbook that is owned by another person or entity. Covered persons also include athletes; umpires, referees, and officials; personnel associated with clubs, teams, leagues, and athletic associations; medical professionals and athletic trainers who provide services to athletes and players; and the immediate family members and associates of such persons.
If a game is halted prior to becoming official, all wagers will be void unless settlement has already been determined. In addition, head-to-head player props must start and either throw at least one pitch (if a pitcher) or record at least one plate appearance (if a position player) for the bet to have action.