After the Supreme Court opened sports betting to the masses by ruling that federal laws that blocked states from regulating the activity violated state sovereignty, many bettors are curious about the specifics of the law. In the coming months, they’re likely to find out more about official betting, which will be required by a number of new states as they roll out legal sportsbooks.

The rules governing official betting include a prohibition on placing wagers on an event in which a covered person is participating, with exceptions for college sports events and tournaments involving teams from public or private institutions of higher education. The definition of “covered person” includes athletes; umpires, referees, and officials; personnel associated with clubs, teams, and leagues; medical professionals who provide services to athletes and players; and the immediate family members of such persons.

The new rules also prohibit a permit holder from offering or taking bets on an event in which a licensed sports governing body has been notified by the department that a violation of this section has occurred, and the director has determined that the violation is not remediable. A permit holder may offset loss and manage risk through the use of liquidity pools in Virginia or another jurisdiction, but such an approach cannot reduce the obligation to ensure that bettors receive payment for their bets. Moreover, the regulations require that official data be provided to operators on commercially reasonable terms, a phrase that is difficult to define at best and impossible to defend at worst. Sources in the industry cite that the cost of official data via distributor Sportradar can be as high as 0.25% of total handle, but the value of such a levy will be ultimately determined by operators and their bettors.