The term official betting refers to a set of rules that are generally adhered to by sportsbooks. The rules are primarily procedural policies and standard terms and conditions that are in place to keep the wagering process fair for everyone involved. The specific rules vary from book to book, but here are a few key points about them:
Betting on games that have not yet been officially announced as completed is prohibited. This is to protect the integrity of the game and ensure that bettors are paid out based on the correct outcome of the event.
Mistakes can happen, and if a sportsbook makes a clear mistake on a line, the wagers placed will be voided and the money will be returned to bettors. Sportsbooks are human after all.
Players’ unions in college and professional sports are unlikely to allow the use of biometric data for betting purposes, even with the explicit consent of the athlete’s players’ association. The law passed in Tennessee contains a clause banning the use of such data without consent from the player’s association.
NCAA staff and student-athletes are prohibited from engaging in any gambling activity, allowing them to avoid potential harassment from those with betting interests. A recent survey found that 10% of Division I students are aware of being harassed by someone with betting interests. Efforts to expand sports betting will likely require an increased emphasis on responsible behavior, particularly among college-age students who are more vulnerable to problematic gambling habits.