Sports Betting Laws and Regulations – Understanding the Official Betting Markets

As the sports betting industry continues to grow across the US, many states are making changes to their laws and regulations. Some have already legalized the activity in some capacity, while others have yet to launch at all. Regardless of the jurisdiction, there are a number of important rules that must be understood in order to place wagers on official betting markets.

Unless otherwise specified in the market rules or bet type specifics, all bets are settled based on the official result from the competition’s governing body. In soccer bets this includes full time (90 minutes plus injury time), while in hockey it is stipulated as three 20-minute periods. Extra time and penalties are not included unless listed in the market rules or bet type specifics.

In addition, bets placed on players will only be paid at the price quoted when they were bet and not the current market prices. The exception to this rule is if the player is deemed a ‘non-runner’. This is generally only applied if the player has been eliminated in a tournament, or if their game is canceled or will run more than 72 hours after the original scheduled start time.

The NBA’s Golden State Warriors haven’t won a title since 1962, but the team is currently in the middle of their best run in nearly two decades thanks to Steph Curry and his supporting cast. Their odds of winning the championship this year are among the highest in the league, but what if the Warriors fall short?