Official betting is wagering on events that have been declared by governing bodies to be official. This includes the final score of a game, the total points scored in a match, and the winner of a particular competition (like a World Cup or pennant). Bets on these events are settled as winners, losers, or pushes according to the governing body’s rules.
Generally speaking, players and team personnel are prohibited from placing bets on games in which they’re involved. This is especially true for NFL players, who must sign a contract statement acknowledging the league’s gambling rules. In addition, NBA team and player personnel are banned from placing bets on any event in which they participate, including the WNBA or G-League.
In baseball, a person can be permanently banned from the game if they place a bet on a game in which they’re participating or provide inside information to someone who’s placing a bet. In a famous 1919 case, professional gambler Joseph Sullivan paid eight members of the Chicago White Sox to fix a World Series against the Cincinnati Reds. The gambler was banned from the game for life and the White Sox were disqualified from the World Series, although they were later reinstated.