Official betting involves putting money behind an outcome of your choice and being paid if that happens. It can be done on individual teams or in multiple outcomes, such as a parlay. The odds of winning are determined by the amount of money placed on each outcome and how much is left over after all bets have been made. The more money placed on a certain outcome, the lower the odds will be.

In recent years, the NFL has embraced sports betting. It now has multiple partnerships with sportsbook brands and works closely with integrity firms that monitor betting activity. The league also uses betting data to improve its analysis of players and team performance. NFL teams also have sportsbooks inside their stadiums. New York has one, and Washington has a plan to put one in its stadium. The Bears are also looking into it.

NBA players are prohibited from placing bets on NBA games while they’re at team or league facilities or while they’re on the road with their teams. However, they are allowed to place bets on other events that aren’t sponsored by the NBA. They also can participate in non-NBA-related bets like Super Bowl squares or NCAA tournament brackets, although those wagers don’t pay out cash prizes.

The NHL doesn’t have a stated policy for or against sports betting. However, it does have a sponsorship with William Hill and has betting partners in some states where sportsbooks are legal.