A sportsbook is a bookmaker that allows punters to place bets on sporting events. Previously, only Nevada operated these businesses, but a Supreme Court decision in May 2018 has led to more states legalizing these services.
Currently, more than 20 US states have legalized sportsbooks. This is a change from the 1992 Professional and Amateur Sports Protection Act, which allowed only Nevada, Oregon, Montana, and Delaware to operate these businesses.
In the United States, sportsbooks are licensed by state governments and can be accessed via an online or mobile app. They offer a variety of bets, including parlays and money lines.
The betting volume varies throughout the year, with increased activity during certain events. This is because bettors have more interest in a particular sport during its season.
To make money, sportsbooks set a point spread for each game and collect the money from bettors who win their wagers. They also collect a commission from every losing bet.
A sportsbook can also offer a wide range of betting options, including future bets and props. These bets are different from traditional wagers, because they are more about odds than who will win.
To get the best value, shop for a sportsbook that offers the highest moneylines on the games you’re interested in betting on. This can save you a lot of money in the long run. However, it’s important to remember that not all books have the same moneylines, so it’s a good idea to open accounts with multiple sportsbooks.