I THINK (now I could be wrong - so I'm sure someone will correct me if I am), but for displaying a quilt in a fair (or competition) my understanding is that the binding has to be sewn to the front and hand stitched down on the back. Our local county fair will accept all quilts, but their *binding* requirements are what I stated above.
For kids quilts and what I call "using quilts"... cuddle quilts... TV quilts to be USED DAILY AND WASHED OFTEN. I sew the binding to the back and use a decorative stitch sewing the binding DOWN on the front. My hubby's 100% flannel quilt was constructed over 4 years ago using this binding method, and that thing has seen the washer/dryer many times. It's holding together VERY WELL and has yet to need a repair.