Official betting, also called official data betting, is a form of wagering on a sports event where the outcome is determined by official statistics, results, or other information provided by the governing body of the sport. It is a popular way for sports bettors to place bets on sporting events and get paid if their bet wins.
There are a variety of bet types, including moneyline bets, spread bets, and parlays. The best sportsbooks will offer a wide range of options for bettors to choose from.
The most popular bets are on the big four professional sports: NFL, NBA, MLB, and NHL. In addition, there are many different types of bets on collegiate teams and tournament games.
Currently, there are three states in the US that legalize sports betting: Nevada, New Jersey, and Virginia. These states have a variety of regulations on sports betting and what type of bets are allowed.
Illinois prohibits betting on local college teams through mobile devices, but it does allow players to place bets on their favorite team at a retail book. However, no retail book in the state has filed the necessary request to start offering action on in-state college teams.
Leagues are seeking a mandated use of official league data in state-regulated sports betting. This has become a primary front in their quest to shape US sports betting policy. They are also seeking to monetize this data, ideally by charging a percentage of total sports wagers.