What Is Official Betting?

For official betting, sportsbooks have to settle bets with a real money outcome. This can include paying winning bettors, offering refunds and voiding bets that aren’t settled correctly. It also includes honoring incorrect odds. For instance, a Red Sox error on a play may be changed to a hit after the game is over, and FanDuel may honor the initial result instead of voiding the bet.

In correlated plays, a single bet is paired with another to create one large bet that pays based on the combined probability of both outcomes occurring. These bets are often more lucrative than individual bets because they pay out if the player hits either of the two specified events. They can be difficult to win, though, so it’s important to study the betting markets carefully.

A bettor must be at least 18 years old to place a wager on professional football. In addition, individuals associated with clubs at lower levels of the men’s and women’s league systems are banned from placing bets on their team or its matches. Those who are involved in the running of a WBSC-sanctioned competition are also banned, which includes officials at FA Level 4 and below, as well as club staff members including coaches/managers.

For MLB game props, a bet is only considered official once the specific player meets the sportsbook’s appearance requirement (typically one pitch thrown for pitchers and a plate appearance for position players). The game must also be at least nine innings or eight and a half if the home team is ahead to have action on over/under bets.

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