Official betting is the wagering of money on a sports event, game or match. There are many different types of bets, but the most popular in New York is moneyline wagering. These bets have a single winner and are settled once the game is completed.

Over/Under (Totals): These bets are based on the number of runs scored in a game or season. They can be based on an individual team or all teams in the game. In a game that goes into extra innings, the odds change.

Totalizators: These bets are a way to combine multiple outcomes into one bet. These bets are typically offered at lower odds than traditional fixed-odds bets and can be a great way to increase your bankroll without risking too much.

Betting on MLB players: These bets become official if the player meets the appearance requirement of the sportsbook, usually one pitch for pitchers and one plate appearance for position players. They also become official if the game reaches a designated point or if the player hits a home run.

These are the most popular bets in New York because they’re simple to place and easy to understand. They’re also the most popular because they’re legal in all states and are regulated by the sports governing body.

Bettors can make these bets at online or in-person sportsbooks that accept New York bettors. The sports governing body sets the odds for each individual bet, but they’re flexible enough to allow bettors to adjust their positions in real-time.