Official betting is a new way for fans to bet on their favorite sports. Unlike other sports, where the players choose the wagers, in official betting the odds are calculated and distributed by the bookmakers. This allows fans to wager and win money for their favorite teams without having to go to a sportsbook.
Although sports betting is not legal everywhere, there are several states moving toward legalizing it. The states of North Carolina, Maryland, and Tennessee have all made significant strides to legalize it. New Hampshire is already reaping the benefits of legal bets. Maple Leaf Sports & Entertainment and PointsBet have recently formed a partnership to make sports betting a reality for fans. These companies will be the official betting partners of several major sports brands. However, some leagues are concerned that the unofficial data can interfere with the integrity of the game.
While the NFL has already enacted legislation to protect its players from corruption, the NHL has been investigating allegations involving the wife of one of its players. The NHL also offers gambling-related training to its players and employs the best monitoring and protection measures available to protect its players. The NFL’s shift to a more regulated sports betting industry comes as cord-cutting disrupts the business model of traditional sports leagues.
Unlike other states, Iowa launched its sports betting market in August 2019. The other states have taken six to a year to legalize and implement. The state has also permitted mobile sports betting.