Official betting is when bets are placed on games that have been officially sanctioned by the game’s governing body. Bettors can place a variety of wagers, including the total number of points scored in a game, whether either team will win or lose, and more. While the concept is simple, there are many rules that must be followed to ensure bettors have a positive experience and sportsbooks can meet their licensing obligations.

The first step in betting on a game is to decide who you want to bet on. Once you’ve determined who you’re going to bet on, the next thing to do is look at the odds. The odds are the likelihood that you’ll win a bet, and they’re typically displayed in one of three formats: American, decimal and fractional. Betting odds tell you what the sportsbook thinks the probability of a specific event happening, and they’re used to determine your winnings and losses.

Odds can be displayed in several different ways, and the type of odds you’re seeing will depend on the sport and market. In general, a higher number means you’re getting better odds, while a lower number means you’re getting worse ones. Odds are constantly changing, so you may notice a change in your bet amount even after you’ve made a bet.

In addition to standard bet types, FOX Bet has a wide variety of specialty markets and props that give fans across regulated states a highly-engaging live betting experience. Among these are player props, which allow fans to place bets on specific performance metrics such as batting average, home runs and strikeouts. These bets can also include specific dates and milestones for a player.

To make a bet on a player prop, the player must have a plate appearance in the specified inning (unless otherwise stated). If a plate appearance is incomplete or not recorded at the end of the inning, the bet will be void. In live game bets on Player Props, the governing body’s official ruling on what constitutes a plate appearance will be used for settlement purposes.

The Over/Under, or totals, market is a wager that the sum of all scores in a game will be more than or less than a number set by the sportsbook. Runs scored in extra innings count towards a game’s total.

A winning bet on a total must cover the spread by two or more points, unless otherwise noted. A losing bet on a total must lose by one or more points, unless otherwise noted. The number of totals offered in a game can vary, and the totals will be updated throughout the course of the day.