When it comes to official betting, it is important to know the rules that govern this area of sports gambling. These rules will differ depending on the sport and the betting markets themselves. It is vital for players and casual fans to understand these rules so that they can avoid any issues that may arise.
Generally, all bets will be settled on the official result as declared by the governing body of the event. This includes overtime scores. Any amendments or appeals that are made after the initial result will not have an impact on bet settlements. Similarly, if a fight is postponed for whatever reason and the new rescheduled date falls outside of the permitted time limit, then bets will be void unless they are rescheduled for within 72 hours of the original start time.
Betting on MLB games is illegal and any player, umpire or club or league employee who places a wager on any game that they have a duty to perform in, will be permanently banned from the league. Moreover, anyone who is found to have placed a bet on any MLB game could be subjected to other penalties. For instance, they could lose their playing rights and be barred from the Hall of Fame if they are caught. This is due to a rule known as “Rule 21” which is posted on dugout walls and states that any person who bets on a game in which they have a duty to perform, will be ineligible for entry.