Official betting is settled based on the final result of a game as outlined by official governing bodies. Bets on games that are postponed or abandoned will be void unless the game is rescheduled and played within 24 hours of being originally scheduled. For markets where results are pending or subject to change, the sportsbook reserves the right to use evidence from trusted sources to determine the final outcome of the market. This can include first goalscorer and other prop bets.
A sportsbook’s betting rules vary by sport and state, but they usually include some basic principles that all bettors are required to follow. For example, you are generally not allowed to place multiple bets on an event that depend on each other’s outcomes (known as correlated plays). This is because it increases the sportsbook’s exposure to any one event and could potentially lead to a financial loss.
In baseball, for instance, anyone who places a bet on a game while playing professionally or as a member of a team will be permanently banned from the sport. This rule dates back to 1919, when gambler Joseph Sullivan paid eight members of the Chicago White Sox to fix the World Series against the Cincinnati Reds, and was forever barred from the game as a result. More recently, Pete Rose was banned from MLB for placing bets on baseball while managing his own team. He was also banned from the Hall of Fame as a result.