As sports betting grows in popularity, professional leagues have taken steps to regulate it and monitor integrity. The leagues are collaborating with sportsbooks and working with companies that specialize in gambling analytics to gain visibility into the bets that are being placed on their games. This increased transparency allows them to identify irregularities and take action against teams, players, coaches and other employees who are engaging in illegal activities.
While the majority of states have legalized sports betting, there are still some restrictions on who can place a bet and where. For example, the NFL prohibits its players from gambling on other sports and can punish them if they do so. This rule applies to both college and pro athletes, and it could also include team owners and coaches. The league has even warned that placing a bet could lead to eligibility violations.
In the past, several players have been banned from the sport because of their involvement in gambling scandals. One of the most famous examples was the 1919 World Series, in which eight White Sox players accepted bribes from gambler Joseph Sullivan to fix the game. The White Sox lost the Series and were banned for life from playing professional baseball. Other high-profile cases in the recent history of sports betting have involved NFL players and NCAA coaches. In early May, the NFL suspended Isaiah Rodgers and Rashod Berry, while Alabama baseball coach Brad Bohannon was fired after being linked to alleged betting activity.
The terms of the NHL’s collective bargaining agreement and constitution both state that players and staff cannot place bets on NHL games. In addition, the NHL will fine any player or employee found to be violating this rule. The rules are posted in every locker room around the league.
Most betting markets are live unless otherwise stated. Any bets that are not settled will be void. The exception to this is for prop bets on individual players, which will be deemed live if the player is listed in the market. Bets that are not confirmed within 30 seconds will be void.
For outright and tournament winner markets, results will be based on the official result from the governing body. Any amendments or appeals after the final table has been declared will not affect the outcome. In the case of cup competitions, markets will be paid based on the team that immediately lifts the trophy. Own goals do not count.
For match bets, the odds are calculated on the basis of total runs, points or goals scored during a match including overtime. Over/Under bets are paid out if either the number of over or under goals is greater than or equal to a given amount. In the case of a tie, all bets will stand. Bets are subject to a vigorish, or bookmaker’s commission, which is deducted from the winnings. This is usually around 10% and is used to cover the cost of operating the betting market.