Official betting, also known as fixed-odds wagering, is a form of legal sports betting where the odds are set in advance. The bettor then places a bet on a team or individual with the intent to profit from a change in the odds. This type of betting is regulated by state laws and may only be offered in some types of establishments. The bettor is required to disclose any financial interest or other relationship with the sportsbook before placing a bet. The bettor may not solicit, offer, or accept a bribe to fix a game, and is prohibited from using inside information for betting purposes. The bettor must report any attempted bribes or other illegal activities to the governing body of the sport. If a player, umpire, or club or league official or employee violates the code, they are permanently banned from the sport.

The number of states with legalized sports betting has grown since the Supreme Court struck down PASPA in 2022. In New York, sports betting is available in retail sportsbooks and at commercial casinos. Online sportsbooks launched in the state on Jan. 11, 2024, with DraftKings, FanDuel, and BetRivers operating. BetMGM and PointsBet have since joined the market.

The National Collegiate Athletic Association has expressed concerns about the effect of sports betting on college athletes. In a survey conducted in 2023, the NCAA found that 27% of autonomy schools dealt with sports betting issues involving their students in the previous year. The issue has created a particular challenge in the NCAA, where a majority of student-athletes have some level of gambling experience.