Official betting is a form of sports wagering whereby all bets are settled based on the final result as declared by the official governing body. This includes overtime scores. In markets where the outcome is a tie, the bet will be deemed void. All players must start the game in order for match bets to stand, and all bets placed on teams or individuals will be settled unless they are withdrawn before kick-off or suspended during the game.

If a team or player has a plus sign (+) in front of their odds, this denotes that they are the favorite. Similarly, a negative sign (-) means the underdog. Generally, the lower the number, the more the underdog is expected to win.

During the 1919 World Series, professional gambler Joseph Sullivan paid eight members of the Chicago White Sox to fix the game. This would go down as one of the most famous baseball scandals in history. All players involved were banned from playing professionally for life.

Legal sports betting has exploded across America since the Supreme Court revoked the Professional and Amateur Sports Protection Act in 2021. Previously, sports betting was limited to Nevada, but now the industry is flourishing in states that have passed legislation and opened their doors to sportsbooks. The influx of betting dollars has given fans a whole new way to experience their favorite teams and players, beyond wins, losses, and playoff races.