With legal sports betting now available in many states, it is important to understand the rules of official betting. Official betting refers to wagers that are based on statistics, results, and other information that is provided by the governing body of a particular sport. The governing bodies are responsible for maintaining integrity and ensuring that the betting market is fair to all participants. They set odds and make regulations that govern how and where wagers are placed. These regulations include minimum age requirements, maximum amount that can be won, and other restrictions.

Sportsbooks must comply with all rules and regulations set by the governing bodies, including setting their own betting lines. They must also follow the rules of the games they are covering. This ensures that the betting market is free from any manipulation and rigged outcomes. Despite these rules, some states still allow illegal or unregulated sportsbooks that can have a negative impact on the gambling industry.

One such state is Washington, D.C., where a handful of land-based sportsbooks have opened. These are mostly located at professional sports stadiums, such as Capital One Arena home to the NBA’s Washington Wizards and NHL’s Capitals, and Nationals Park, home of the MLB’s Washington Nationals. In addition, the District allows certain restaurants and bars to open a sportsbook as long as it is not located within two blocks of the arenas in so-called exclusivity zones. These limitations on competition are bad for the consumer and the overall health of the industry.