Online Sportsbook Rules | Settlement of Bets

One of the most searched topic when it comes to betting on sports at online sportsbooks is how are bets settled. This could also qualify as one of the most important topics since some of these rules could determine the difference between a winning and losing bet.

Any online sportsbook you bet with should have a rules section posted on its website since there could be slight variations from one online betting venue to the next. However, there are some general rules for settling bets that are consistent across the sports betting industry.

Also Read – Online Sportsbook Rules | Betting NHL Games

At the top of the list is the rule that states, “The winner of an event will be determined by the official governing body for each sport on the day of that event’s conclusion.” This means that the NFL, NBA, NHL and MLB are the official governing body for those major professional sports leagues. The NCAA would be the governing body for all US college sports.

A good example of this rule would apply to professional golf. The PGA would be the governing body for an official PGA Tour event, but the USGA would be the governing body for the US Open, US Woman’s Open and US Senior Open along with any other events this organization presents.

For sports betting purposes, all results are final. Suspended games before the stated time limit, official protests and any overturned decisions after the fact will not be recognized. Minimum time limits for a game to be official are 55 minutes for both NFL and college football. This also applies to hockey games in the NHL.

NBA limits are 43 minutes and college basketball is 35 minutes. MLB games are official following the losing team’s fifth inning. Any extra play in overtime or extra innings will count towards the final results.

Here is a live rules page from a top online sportsbook.

Any baseball run line or total line bets must go the full nine innings to be valid. For any prop bets on the actual winning margin of any game, that event must go the full allotted time to be valid.

All other sporting events will be considered official for betting purposes once the actual playing time is within five minutes of the scheduled playing time. A boxing round is designated to be underway once the bell is sounded.

A set period of time within in a game must be completed for bets to be valid. For example, first quarter or first half bets in football and basketball. Overtime is included for second half bets in football and basketball.

Most online books will automatically credit any winning bets to an online account within one hour of a game or event’s conclusion.

Another very important rule to remember is at all betting odds are recorded when the actual bet is placed. This is why it is very important to take note of the current odds on the board when placing that bet. For example, if you bet Dallas -7 against Philadelphia that is your closing spread no matter what happens to that betting line right up until kickoff.

The New Year has long passed, but the new baseball year is almost here. Click here to see A New Strategy for a New Year.

All parlay bets will revert down to the next lowest number of selections in case a game ends as a draw or push. For example, if you bet a four-team parlay and you win three games with a push, your actual payout odds will be based on three games. If this happens to be a two-team parlay with a push, it will be graded as a straight bet on a single game.

Another thing to always keep in mind is that any bet is not considered to be valid until that transaction is recorded on the betting account statement. Make sure to always check the ‘open bet’ section in your online betting account to verify it has been successfully placed.

Related Articles
2019 NFL Mock Draft - 11-20 2019 NFL Mock Draft - 11-20

2019 NFL Mock Draft - 11-20

With the top 10 picks in the bag, the 2019 NFL Draft moves on to the second ten. There will most certainly be a number of future NFL starters taken among picks No. 11 through 20. Which ones will turn out to be the most productive? MISSED THE TOP 10? HERE’S THE 2019 NFL MOCK Read More…

PGA Picks | Valspar Championship PGA Picks | Valspar Championship

PGA Picks | Valspar Championship

Originally the Tampa Bay Classic, which was established in 2000, it has been the Valspar Championship since 2014. It ends the Florida swing before the PGA heads west to Texas. The #1 golfer in the world, Dustin Johnson, is in the field along with defending champ Paul Casey. In 5 years of existence, there have Read More…

NBA Free Pick | Rockets at Hawks NBA Free Pick | Rockets at Hawks

NBA Free Pick | Rockets at Hawks

Going against conventional wisdom almost worked last night, but in the end, it was another loss. I’m dipping back in the NBA tonight with a total wager on Rockets at Hawks. I’ve crushed all the numbers from my top games today, gave my magic eight ball a little rub, and here’s what I came up Read More…