Official betting is a legal form of wagering on sports events, such as NFL games or horse races. It is typically offered by online and mobile sportsbooks.

The legality of betting on sports depends on state law, but most states allow some form of sports gambling to take place. Some have banned certain types of bets, such as betting on college events or games at specific venues.

There are three basic forms of sports bets: straight bets, props and exotic bets. These can be based on the number of players, team records, matchups or other factors.

Some bets are based on special events, such as playoffs, championships or World Series. Others are based on statistical analysis.

In-play or live betting is a popular way to place bets during the course of a game, allowing you to ride the action and make your wagers when the matchups change. It’s also a great way to take advantage of stoppages in play, when teams are taking a breather and making adjustments.

Totalizators are another common form of in-play wagering. They work by adjusting odds to reflect the percentage share of each possible outcome that has been received by the bookmaker.

In-play wagering is a popular way to bet on sports, but it’s important to read the fine print on each of your wagers. For example, you should check to see if the bookmaker requires you to download their app or create an account before you can place a bet.