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A sports book is a place where people can wager on various sport competitions. The method of betting varies with the sport and the type of game. In many cases, the more important the game, the more betting options that are made available.
In the US there is a 0.25% Federal Excise Wagering Tax that is paid for any betting on any sports event. generally the house takes care of this tax and the customer is usually not aware of it.
In casinos, you will usually find the following:
Bets taken are paid when the event is official. If the event finishes before it is official, then all bets are returned. This policy can cause some confusion since there can be a difference between what the book considers official and what the sports authority considers official.
Baseball
Basketball
Game is normally official after 35 minutes of play for college games or 43 minutes of play for professional games.
Boxing
Car racing
Football (American)
Game is normally official after 55 minutes of play.
Golf
Ice Hockey
Game is normally official after 55 minutes of play.
Horse races
Tennis
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