Sports Betting – What Is Official Betting?

Official betting is wagering on games regulated by the state in which you live. The most popular bets include money lines, point spreads and totals. These bets can be placed online or at land-based sportsbooks. In addition to the most popular US sports, some states also regulate horse racing and other international sports.

While sports betting is legal in more than half the United States, it has been slow to roll out in many states. This is largely due to the fact that the legalization process has required regulators to draft, take public input on and formally vote on over 200 different regulations. In some cases, this has taken over a year.

Several states have rolled out official betting in 2023, including Colorado, which allowed residents to place bets on sporting events as of May 1 and Connecticut, which launched its first sportsbook less than a month after the Supreme Court’s ruling in 2018. However, the latter still doesn’t allow players to bet on their own collegiate teams.

It’s important to remember that any athlete who participates in a regulated gaming event is at risk of losing their eligibility for future events. In fact, some players have received one-year suspensions for placing bets on NFL games or gambling at team or league facilities. Athletes are required to sign a contract that says they understand and agree to league rules regarding gambling.