What Is Official Betting?

Official betting refers to bets that are placed on a game or event based on official data provided by sports leagues. The goal is to ensure that the betting markets are as accurate as possible, and that the odds are fair for both bettors and bookmakers. However, it is important to note that the rules surrounding this type of betting are still evolving. As such, there are many different types of bets that can be made on official data, and each one will have its own set of rules. For example, if a game is shortened or suspended due to weather, bets on a particular team’s performance will change. In addition, bets on players will change as well. The key to ensuring that all bets are fair is to always consult the betting lines at the sportsbook before placing your wager.

In the wake of SCOTUS’s landmark decision on PASPA, sports leagues have fought to establish themselves as primary stakeholders in legalized US sports betting. They want a say in how wagers are placed, ideally by receiving a direct cut of the money wagered on their events. If that isn’t feasible, the leagues are willing to settle for a mechanism that monetizes their data, a concept known as official league data mandates.

The major sports leagues have lobbied to include official data in state-regulated sports betting laws across the country. However, their quest has run into headwinds. Operators argue that the data is not valuable enough to justify a mandate, while lawmakers are concerned about the integrity of sports betting.

Official data is a term that has come front and center in the debate over sports betting, as the major professional and college sports leagues seek to impose their own requirements on operators in order to compel them to use their official statistics for bets. This has supplanted the idea of an integrity fee as the leagues’ preferred method of getting their way.

While the NHL doesn’t publicly take a position on sports betting, it does have its own in-house partnership with MGM Resorts International. It is also one of the few pro leagues to open a sportsbook in Nevada, with its Vegas Golden Knights facility becoming the first team to do so in January.

Most bets require that a game be official or reach a designated point for them to pay, with the exception of player props and certain totalizators. For example, MLB player props usually require that the specific player meets a certain appearance requirement at the sportsbook, typically one pitch thrown for pitchers and one plate appearance for position players. If a bet is placed on an incorrectly rounded number or a stat that was changed after the market was settled, it may result in a refund.

Players’ unions are also likely to be wary of any attempt by the leagues to collect, store, and monetize their biometric data. The NBA and MLB’s attempts in West Virginia and Tennessee to have their own data included in sports betting laws have run into significant resistance from their members.