Official betting means you can place bets on the outcomes of a game or event with the assurance that you will be paid if your wager wins. It can be a simple bet on which team will win a game, or it can involve multiple outcomes in one bet, which is called a parlay.
In the United States, sports betting has been legalized in most states, although it is still prohibited in some. The laws vary from state to state, with some requiring that bets be placed in-person while others allow for online wagering. It can be difficult to keep up with the ever-changing rules of each state.
New Jersey, for example, passed legislation to legalize sports betting in 2020, but the major professional sports leagues challenged it in court, arguing that the state did not qualify for an exemption from PASPA. A lower court ruled against the state, but a rehearing was granted and the US Supreme Court agreed to hear the case.
The result was a unanimous decision that struck down PASPA and opened the door for states to legalize sports betting. The American Gaming Association pushed for the ruling, and it has been a strong advocate for state-based regulation of sports betting.
In Nevada, for example, there are both in-person and online sportsbooks. The first online book launched in November 2021, and the state’s retail sportsbooks began operating in September. In Iowa, sports betting launched in 2021 with a handful of sites going live by the end of the summer. The state’s law tethers online sportsbooks to existing casinos, and DraftKings, PointsBet and Caesars were among the first sites available.