A sportsbook is a venue, either online or in person, where people can place wagers on different sporting events. A sportsbook may also be called a bookmaker, although the two terms are sometimes used interchangeably. While some states require bettors to make their wagers in person, many have legalized sportsbooks that accept bets over the internet.
While a sportsbook is free to set its own lines and odds, most of them aim to attract action on both sides of an event. This can be accomplished by setting competitive odds that can generate a profit over the long term. By adjusting the odds as necessary, sportsbooks can avoid heavy losses and push action away from one side of an event.
In the United States, sportsbooks are licensed and regulated by their state governments. Some states restrict the types of sports they allow to be wagered on, while others prohibit sports betting altogether. In the past, sportsbooks were only available in Nevada, Oregon, Montana, and Delaware, but a recent Supreme Court decision has allowed more states to legalize them.
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