Official betting is a fast-growing market, especially since the US Supreme Court’s decision legalizing sports gambling. Whether you’re a casual fan or a sharp, there are certain rules you should be aware of before placing a bet.

Betting on sports is one of the most popular forms of online gambling. While it can be lucrative, it’s also risky. You can lose a lot of money in the blink of an eye. The following tips will help you avoid common mistakes and keep your winnings to a minimum.

For football betting, bets are settled on the official result of the game as declared by the team’s or tournament’s official governing body. This includes any overtime scores. Parlays are a fun way to boost your profits, but they are more advanced and require a greater level of knowledge of the sport.

Football betting is governed by a number of regulations, including a ban on tipping. The code defines a “tipper” as any person who provides information that could be used to gain an advantage in a bet. In addition, it states that anyone who has a duty to perform in a match may not place bets on that match.

For fight markets, all bets are paid based on the official result as announced by the governing body of the event. Any appeals or amendments after the initial result won’t affect bets on that market. For player props, wagers have action as long as the player is in the squad at the time of the game. Games that are postponed will see all bets on those markets void unless they are rescheduled and take place within 72 hours of the original start time.