After the Supreme Court overturned a federal ban on sports betting in 2018, legal sportsbooks are available in more states than ever. But even with regulated options, there are still limits on where people can place wagers on their favorite teams. And with professional leagues forming partnerships with integrity monitoring firms, sportsbooks and other industry players, they now have more visibility into the betting market and can catch offenders.
Official betting is defined as a bet placed on a game that is sanctioned by the official gambling authority of a state. It can be placed either on the game’s final outcome or its spread (the point-spread). It is also possible to make a “teaser” bet, which combines several individual bets into one parlay. In order to place a bet, a player must register with the sportsbook and create an account.
In addition to the rules set forth by the NCAA, some states have their own gambling regulations. For example, the state of Colorado has a gaming compact with the tribes that allows retail and online sportsbooks. The initial launch of these sportsbooks in 2021 saw the likes of DraftKings, FanDuel and BetRivers open up for business.
In addition, the state of Ohio passed legislation that went into effect in 2021. The initial launch of retail sportsbooks came in September of that year, with online offerings following soon after. Eight online books are now available in the state, including DraftKings, FanDuel, BetRivers and BetMGM.