As more states legalize sports betting, there’s more interest in wagering on games and events. But bettors should understand the rules of official betting before they make any wagers. A few key points to remember:

When betting odds are listed, the lower number represents the favorite. The higher number represents the underdog. A bet with a number in between the two numbers denotes an if bet, where one selection depends on another. If the first selection complies with the conditions of the bet, then the second will have action.

In baseball, a rule called “Rule 21” prohibits players, managers and club officials from gambling on any game that they are scheduled to play in or officiate. If a player makes a bet on a game in which they are playing or officiating, it can result in a lifetime ban from the sport. It also prevents them from entering the Baseball Hall of Fame, even if they are reinstated later.

The NFL is the most popular sport for betting in the US, so it’s no surprise that there are a ton of prop bets available each week. Props can range from specific player performance bets to total score bets and more.

In 2022, New York legalized sports betting and launched retail and online books on Jan. 1. DraftKings, FanDuel and BetRivers all have retail and online sportsbooks in the state. BetMGM and PointsBet have joined the lineup since. The state’s law allows for up to 25 online sportsbooks at launch.