Official betting is sports gambling that takes place at a licensed bookmaker. It can be placed in person or online, depending on state and jurisdiction rules. Some states have a single operator for both in-person and online betting, while others have multiple bookmakers. In addition, some regulated operators are part of a larger network that monitors the integrity of sports betting.
Currently, eight states have legalized sports betting. Ohio was the first, opening up retail and online sportsbooks in 2023. Pennsylvania followed shortly thereafter, and then New Hampshire. In addition, a number of reputable operators have launched in Kentucky.
A sportsbook’s odds are based on a multitude of factors, including the popularity of certain teams and players and past performance at specific venues or in particular tournaments. These odds are then multiplied by a bookmaker’s return rate to determine how much a bet pays. Often, these odds change in real-time as more money is placed on one team or player.
It is against MLB policy for players, managers or club/league officials to gamble on baseball games. This rule is outlined in the collective bargaining agreement and is posted in every dugout room around the league. Those found in violation of this rule face a variety of penalties, including being permanently banned from the Hall of Fame.
The NFL is taking a stronger stand on betting, investing in technology, dedicating security personnel and partnering with integrity firms. The league has also started to share player-specific betting information with its partners, allowing them to identify potentially suspicious activity.