Sports Betting – What Is Official Betting?

The United States is one of the most popular markets for sports betting, with over 30 states now legalizing it. Following a Supreme Court ruling that struck down the 1992 Professional and Amateur Sports Protection Act (PAPSA), states are now able to establish their own sports betting rules and regulations.

Official betting refers to wagers placed on events with an official result from a sport’s governing body. This includes accumulator and outright bets, as well as player and team prop bets. In addition, these bets are settled based on the final result provided by the governing body, and this will include overtime scores. If a game is postponed, all bets will be void unless the rescheduled time is within 24 hours. Bets on markets such as first goalscorer and quarter/half betting will also be void if the game is abandoned before they have been settled.

A recent survey of college-age students showed that half reported placing a bet on sports in the past year. This trend is raising concerns about the impact of legal sports betting on student-athletes and the integrity of NCAA competition.

The first official betting sites launched in 2021 and were regulated by Iowa’s state law. The law allows bettors to place wagers on pro and collegiate sporting events in the state, with restrictions involving in-state college games. Betting on in-state collegiate team outcomes is allowed, but betting on player prop bets in collegiate games is prohibited.

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