Official betting is a type of sports betting in which odds on events are determined by official data from the leagues or organizations that govern those games. This can be a good way to ensure fairness in sports betting.
Official league data can be obtained from distributors such as Sportradar, and it is a key part of the legal landscape for states with sports betting laws. In addition to enabling sportsbooks to grade in-play wagers, the data can be used to create incentives for players to bet on particular teams and events.
The NBA, NHL and MLB have all entered into sponsorship agreements with bookmakers that include access to in-play data from their teams. The NHL also has an official league betting partnership with William Hill and MGM Resorts International.
Major sports leagues are attempting to collect an integrity fee in the form of a direct cut off the top of US sports betting handle. This is intended to compensate for the use of their intellectual property, including the games themselves.
This type of wager is similar to parimutuel gambling in horse racing and dog racing, but is based on the odds of the outcomes of specific events. These bets are often placed before a season starts, but they can be placed all season long.
Some sportsbooks offer totalizators, which change in real time as the results of events unfold. These bets can include “exacta” wagers, which call for picking the first two finishers in a race; a “quinella” bet, which requires choosing the first two finishers in either order; and “trifectas” and “superfectas” bets, which require picking the first three or four finishers in exact order.