A sportsbook is a business that accepts bets on sporting events and pays winning bettors. Sports gambling exploded after the Supreme Court ruling allowed states to legalize sports betting in 2018. Now, more than 20 states offer a state-licensed sportsbook. The best way to run a sportsbook is by using pay-per-head (PPH) software. This method eliminates the need for a large capital investment and keeps your sportsbook profitable year-round.
To attract new customers, a sportsbook offers a variety of bonuses and promotions. These include free bets, first-bet bonuses and odds boosts. These bonuses are an effective way to promote your brand and encourage customers to return. They can also be used to drive traffic and increase your revenue.
If you are planning to launch a sportsbook, it is important to understand the sports betting market and the mechanics of how a betting site works. This will help you select the best partners for payments, risk management and odds compilation. It is also crucial to consider whether you are interested in a custom, white label or turnkey sportsbook.
A turnkey sportsbook is operated by another company and has set features and functions. This option can be expensive and limits your flexibility, but it can be an attractive solution for a new sportsbook. A custom sportsbook is built from the ground up, and it can be costly and time consuming. However, it is a great way to control the entire experience.