When Does Your Bet Become Official?

Sports betting is now legal in more than 30 USA states and territories, with many offering both in-person and online wagering. New customers should familiarize themselves with the rules and policies of a particular sportsbook before placing their bets. This article explains when your bet becomes official and the procedural policies most sportsbooks follow to settle their bets.

A bet is considered officially settled at the end of “Regular Time” or “Full Time,” unless otherwise specified in the Market Rules, the Betting Rules or the bet specific terms and conditions. Regardless of the official result, any bets placed on a team that is eliminated before the start of the regular period or the final 20-minute period of a hockey game are deemed void and will be refunded.

It’s important to remember that the people behind sportsbooks are humans, and mistakes can happen. If a sportsbook makes a clear error in the odds or pointspread on a particular event, all bets on that line will be refunded. In addition, bets on games that are not played on the date and time scheduled are void.

In horse racing, a bet is deemed official when the bettor has picked the first two finishers in exact order, or a “quinella”; a trifecta is picking the first three finishers in any order; and a superfecta requires predicting the first four finishers in correct order (plus any special conditions that may apply). Also, bets are generally not allowed on multiple outcomes within one parlay; this type of bet is known as a correlated play.