The Difference Between Official and Unofficial Betting

In the world of sports betting, official or live bets are those that are settled and paid out according to their respective governing bodies. This is compared to unofficial or pre-game bets that are not settling and will not be paid out, regardless of the final result.

In baseball, any player or employee of a MLB club who places a bet while inside team facilities is subject to an indefinite suspension and could be banned from the game’s Hall of Fame (although most players have been reinstated years later). The NBA has a similar rule, with all bets placed on NBA teams and league properties being void if the wagerer is associated with one of the 30 clubs or the league overall. However, if the NBA isn’t the focus of a bet, such as a wager on a country to win soccer’s World Cup or a player to win the NFL Offensive Rookie of the Year, these types of wagers are acceptable.

In football, the FA bans all players and employees at clubs in lower levels of men’s or women’s league systems from advertising or promoting any gambling activity in which they are involved or can influence. However, this only applies to their personal capacity and doesn’t impact their ability to work for other clubs or organizations. It’s also worth noting that betting odds on matches can be volatile and fluctuate during play. This can make placing bets in-game very difficult, so it’s recommended that you research each sportsbook thoroughly before making a decision.

The Official Lottery

The official lottery offers a variety of games with various prize amounts and odds. These games can include scratch-off tickets, instant games, keno, or video-lottery terminals. Some states also offer a combination of these. The prizes may be cash, goods, or services. In most cases, the prize amounts are determined by a percentage of total ticket sales.

While the lottery has a long history, its modern state-run form dates from New Hampshire in 1964. At the time, as Cohen recounts, America was “defined politically by its aversion to taxation,” and lottery advocates promoted it as a way for governments to raise money without increasing taxes. They were right to do so, but it turned out to be a flawed solution.

State lotteries are regressive, meaning that they take more from lower-income Americans than higher-income ones. What’s worse, lottery revenue isn’t enough to meet even the smallest public needs. Despite decades of noise and promotion, the public is still misled about how much lottery funds benefit schools and other public services.

Lotteries have evolved into a multibillion-dollar industry worldwide. They can be held in many different forms, including raffles, where the prize is a fixed amount of money or goods, and public lotteries, where the prize is a percentage of total receipts. Regardless of format, there are several important questions to consider before participating in a lottery. These include how the prize will be awarded, whether the odds of winning are reasonable, and how much the odds of winning differ by demographic group.