Official betting is the act of placing a bet with an operator that has been licensed to operate in a specific state. This can include online sportsbooks, land-based establishments and mobile apps. Regardless of the platform, it is important for punters to understand the odds and probability of winning before placing a bet. This can help them create a formula that maximizes their profits. In addition, it is crucial to avoid betting based on emotion and personal bias.

After the Supreme Court overturned the federal ban on sports betting, states have been rapidly adopting it. In fact, more than 30 states now have legal sportsbooks. Colorado, for instance, launched sportsbooks in 2021, with both retail and online options available to residents. The state has also eliminated some wagering limits. However, in-state college teams are still not eligible for bets.

Another state that recently legalized sports betting is Connecticut. In 2022, the state’s sportsbooks began accepting bets on all major sports. There are several different betting platforms in the state, including DraftKings, FanDuel, and Caesars. In addition to these brands, a handful of independent sportsbooks have also opened in the state.

While it is possible to win money betting on sports, it is important to remember that even the simplest of bets can go sideways. To maximize your chances of success, you should bet only on sports events that are legally offered by reputable bookmakers. It is also a good idea to consider your own financial situation, risk tolerance and strategy before making any bets.