A sportsbook offers a wide range of betting markets on sports and events. It offers low-risk bets like a match winner after 90 minutes and more speculative options, such as first or last scorer or correct score. It also displays a full range of pre-match and in-play markets. It must offer all major sports, such as the FA Cup in England and World Cup finals for football, and include tennis betting on ATP and WTA tours, Challenger events and ITF tournaments.
Aside from the large menu of betting options, a sportsbook should be easy to navigate and secure. It should use reputable payment processors for deposits and withdrawals, provide appropriate privacy protection, and pay out winnings promptly. It should also have a help desk to answer customer queries and problems.
In the US, sportsbooks have become ubiquitous, largely thanks to the U.S. Supreme Court ruling in 2018 that struck down a federal law that had limited legalized gambling to Nevada and three other states. The ruling has opened up a burgeoning market for sports betting, with operators opening online sportsbooks in most states.
As with traditional bookmakers, a sportsbook makes money by laying odds that guarantee a return in the long term. For example, if the Detroit Lions are favored to beat the Chicago Bears, the sportsbook will move the line in favor of the Bears and discourage Detroit backers. In the long run, this will reduce losses.