How to Run a Sportsbook
1 min read
A sportsbook is a place where people can place bets on various sporting events. The most popular sports to bet on are basketball, baseball, boxing, (American) football, and soccer. There are several different ways to bet at a sportsbook, including over-the-counter and online.
In the United States, for many years the only fully legal sportsbooks were in Nevada (and in limited form in Montana, Oregon, and Delaware). However, a 2018 Supreme Court decision has opened the door to more than 20 states to offer their own sportsbooks. Many of these are offering their services online.
Sportsbooks make money in the same way a bookmaker does — by setting odds that almost guarantee a positive return over the long term. Because the inherent variance in gambling makes it difficult to accurately measure one’s ability to pick winners based on results alone, professionals prize a metric known as closing line value. If a player consistently bets against the spread at a particular sportsbook, that sportsbook will move its lines to discourage him or her from betting.
The first step in running a sportsbook is ensuring it’s compliant with all relevant laws and regulations. This requires consulting a lawyer and getting the right licenses. Once that’s done, you’re ready to get started.