What Is Official Betting?

Official betting is a term used to describe bets that are settled based on statistics, results and other data that has been sourced from a league’s official governing body. This type of betting can be found at a number of licensed sportsbooks, including those operating in states where legal sports gambling is available.

A number of major sports leagues have teamed up with betting operators to offer their fans a chance to place bets on games in the United States. The NHL, for instance, was the first to launch a team in Nevada, where sports betting is legal. The team, the Vegas Golden Knights, has since signed sponsorship agreements with several bookmakers.

For NBA games, bets will be paid based on the result declared by the game’s official governing body, which includes overtime scores. Similarly, boxing bets will be settled based on the final result published by the fight’s governing body, and any amendments or appeals will not affect the outcome of the market.