Official betting is a type of wager placed on sporting events sanctioned by the sports league. It includes a variety of bet types, including money lines and spreads. Sports governing bodies work hard to ensure that fans are able to place responsible wagers. This involves beefing up in-house technology, deploying security personnel to monitor betting activity and partnering with integrity firms to identify violations.
In the United States, sports betting is legal in most states. However, many states don’t regulate the industry, and some have very limited regulation. This creates unique challenges for NCAA athletic programs. In a 2023 survey, 27% of autonomy schools reported that they had dealt with at least one issue related to sports betting. The NCAA believes that sports betting poses a serious threat to the well-being of student-athletes and to the integrity of NCAA competition.
Sports betting in the United Kingdom is legal, with a long history of sports betting dating back to horse races and rooster fights. The UK sports betting industry contributes over $17 billion annually to the economy and is highly regulated.
Massachusetts became the second state to legalize sports betting in January of 2023, launching in-person and online sports betting. Minnesota is trying to legalize sports betting but has been unable to resolve differences between tribal casinos, which want exclusive rights over online sports betting, and horse racing tracks, which also want to be involved in the gambling market. New Jersey has been a model for regulating the industry.