Official betting is a set of procedural policies that most sportsbooks follow and standard terms and conditions that are used to define your bet. These rules are not only designed to keep the sportsbooks running smoothly, but also to protect players and customers. These rules can vary from sportsbook to sportsbook, but a few things will always remain the same.

For instance, most MLB bets are settled based on the official result outlined by the governing body. If a game is postponed or abandoned prior to the start of play, all bets will be void and stakes will be returned unless specifically noted in the market rules. Additionally, all over/under bets include overtime unless specified. Similarly, all hockey total bets (game, period, team) will include overtime and shootouts unless otherwise indicated.

In addition, any individual associated with a club at a lower level of the men’s or women’s league systems plus match officials at FA Level 4 and below are banned from betting on any WBSC events. However, this ban only applies to those betting activities in which they have a direct or indirect interest or knowledge. This includes any player, coach or athletics staff member. This rule also excludes any person who provides useful information they know to be a bet or can reasonably believe will be used to place a bet on a WBSC event. This includes anyone involved in a business relationship with a betting company that could benefit from their knowledge of upcoming bets or potential future action.