Sports Betting Laws – Understanding the Rules of Official Betting

With sports betting legal in more states than ever before, leagues are pushing to shape US state and federal laws governing the industry. One of their main strategies has been to seek control over official data and a mechanism that allows them to monetize it, as opposed to the integrity fee approach of the past.

A slew of new online and brick-and-mortar sportsbooks are popping up around the country, and it has been quite a while since Nevada was king of legal sports betting. The Supreme Court’s landmark ruling in May 2018 gave individual states the green light to legalize sports wagering if they choose. As such, the race is on for new bookmakers to enter the market and establish themselves as a force to be reckoned with.

This is why it’s important to understand the rules governing official betting. Players, club and league employees, and tournament officials are not allowed to place bets on NHL games or any WBSC competition in which they are participating. It’s also illegal to provide inside information that you reasonably believe could be used to bet on a WBSC event.

Other types of betting available include futures, which are wagers on season-long outcomes (e.g. Denver Broncos to win Super Bowl, Novak Djokovic to win Wimbledon), and player prop futures, which are wagers on specific player statistics (e.g. Aaron Rodgers regular season passing TDs). The odds on these types of bets change throughout the week as betting action is placed and adjusted accordingly.

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