What is a Sportsbook?

A sportsbook is a place where people can wager money on sports. Until recently, it was illegal to place bets on sports in the US, but that changed when the Supreme Court legalized sports gambling in 2018. The first legal sportsbooks opened in Nevada, followed by Delaware and New Jersey. People can place bets on sports online at Bovada, an offshore book, or at a state-licensed and regulated online sportsbook.

Online sportsbooks accept credit and debit cards, e-wallets and cryptocurrency such as Bitcoin and Ethereum. They can also accept payments made by check or money order. Some have mobile payment options such as Apple Pay or Google Wallet. Some also offer prepaid cards with preset values that can be used at the sportsbook.

Most major sportsbooks have a large menu of betting options, including different leagues and events, as well as different types of bets. They also provide fair odds and return on those bets. Some sportsbooks also offer bonuses and boosts to encourage players to place bets with them.

One advantage of betting on sports is that you can often find good value by combining multiple bets. This is called a parlay bet. Some sportsbooks offer better returns for winning parlays than others, so you should shop around to get the best value.

Another way that sportsbooks make money is by charging a commission, or juice, on losing bets. This fee is usually 10%, but it can vary. The sportsbook then uses the remaining money to pay winners.