Sports Betting Laws – The New Era of Legal Sports Betting

The Supreme Court’s ruling in 2021 ushered in the era of legal sports betting, overturning a 1992 federal law which prohibited it. The NBA, NFL and MLB were quick to oppose the change but they have since found a way to associate with the new industry without putting their brands at risk. Each of the leagues now has partnerships with betting companies allowing them to use official data and logos. They are also allowing players to sign ambassador roles with gambling firms where they will appear in adverts alongside the brand. Edmonton Oilers star Connor McDavid is currently the face of BetGM’s NHL betting products.

All bets are settled based on the final result of a game as outlined by official governing bodies. If a game is postponed or abandoned before the commencement of play, all bets will be void unless rescheduled and played within 24 hours. All bets in markets that include two or more teams will be settled if the full allocation of rounds has been completed. Exceptions can be made for special markets such as the Over/Under 2.5 goals market where bets will not be settled if a match ends with fewer or more than this amount of scored goals.

Colorado became the 19th state to legalize betting in 2020 and has a regulated market with multiple operators offering online wagers. The state doesn’t allow wagers on in-state college games and player prop bets are not available on collegiate events.