Official betting refers to sportsbooks in states that offer legal, regulated sports gambling. The term is often used in conjunction with online and mobile betting platforms, but can also apply to brick-and-mortar sportsbooks. In some cases, teams or events partner with a specific sportsbook in order to increase brand awareness. These partnerships can be beneficial for both the sportsbook and the team or event, but they are also an indication of the broader trend toward more acceptance of sports betting.
After the Supreme Court overturned PASPA in 2018, many states began drafting laws to allow for sports betting, with New Jersey and Delaware leading the way. Some states chose to regulate their sportsbooks through the state lottery while others opted for gambling commissions or other gaming oversight bodies. In some cases, a sportsbook will partner with a sporting league in order to use their official data in the oddsmaking process. This is a natural alignment that allows for better understanding of the betting odds by the public.
In March 2022, MLB signed a multi-year deal with FanDuel to become an official sportsbook partner. This adds to FanDuel’s extensive US sports sponsorship roster that includes the NFL, NBA, NHL, WNBA, and PGA Tour.