Official betting refers to a wager on the result of a game, or a team in a specific competition. The outcome of a bet can be determined only when the match is played to its full conclusion, and all relevant rules are followed. A bet that does not meet these criteria is deemed unofficial, and the wager will be refunded by the sportsbook.

A common rookie mistake is betting on teams that they like, thinking this will make the game more interesting and exciting for them. However, this type of bet usually won’t increase your winnings. Instead, you should focus on betting on the teams with the best odds. This way, you can be sure that your bet is based on sound analysis and will lead to profit in the long run.

Betting providers use a variety of data to power their live betting products, including official league statistics and TV broadcasts. However, it’s worth pointing out that there is often a delay between the actual event and when the betting provider accepts bets.

Depending on the sport, there are a number of different types of bets that can be placed during live matches. These include goal line and totals markets, as well as accumulator and outright bets. It’s also worth noting that some prop bets require the match to be played to its full conclusion, or that extra time will not be played if it is needed to determine a winner.