Official Betting

Official betting is the process of placing wagers on officially-sanctioned sports events. It is available on both retail and online platforms in states where sports betting has been legalized. The sportsbooks must follow official rules and regulations to ensure that the integrity of the sport is maintained, and that the betting market is free from fraud and corruption. The betting lines and odds are based on the rules of each sport and the official statistics provided by the game’s governing body.

The sportsbook industry sprang into action after the Supreme Court overturned PASPA in 2018, with the first retail sportsbooks opening in West Virginia in September of that year. BetLucky was an early mobile option, but shut down the following year due to a technology dispute. DraftKings, FanDuel, and SugarHouse went live in the state soon after.

New York legalized sports betting in 2019, with retail options at commercial and tribal casinos and a full online rollout in April 2021. FanDuel, DraftKings, Caesars, BetRivers, and PointsBet all launched, with additional operators joining the market over time.

Pennsylvania was another state that acted quickly following the Supreme Court ruling, with its retail sportsbooks launching in November of 2021 and online sportsbooks going live in May of that same year. The launch was followed by a statewide advertising campaign, and SugarHouse, BetRivers, DraftKings, and FanDuel all went live in the state shortly after. The state’s legal sports betting market tethers online sites to its licensed casinos, with exceptions for pro sports teams that partner with a casino and the Kansas Speedway.

What is the Official Lottery?

Lotteries are a fixture in modern society, with Americans spending upward of $100 billion annually on tickets. But they weren’t always a popular pastime. During the French Revolution, philosophers like Voltaire and clergyman complained that lotteries exploited the poor. They weren’t completely wrong: Lotteries aren’t tax-deductible and they do provide some state revenue, but it’s a tiny portion of overall state revenue, amounting to no more than 2 percent for most states.

Lottery proceeds are used for public education systems. They’re also a big draw for low-income communities, which are disproportionately made up of black and brown Americans. Those folks feel pressure to get ahead and believe the lottery is a way to do so. But the odds of winning are extremely low. In fact, lottery critics say that lotteries are regressive, as lower-income people spend more of their budgets on the games than higher-income groups do. In addition, more money is wagered on instant scratch-off games, which attract low-income gamblers, than on larger jackpot drawings such as Powerball.

In the United States, lottery games are operated by state and territorial governments or private-sector companies licensed to sell them. The New York State Gaming Commission oversees the lottery, which was first established in 1967. New York State’s slogan is “Your Chance of a Lifetime to Help Education.” Proceeds from the lottery go toward public school education in the state. In addition to the New York State lottery, there are two other national lotteries: the Powerball and Mega Millions.