A sportsbook is a gambling establishment that accepts bets on different sporting events. They offer a variety of betting options, including straight bets and over/under bets. They also provide a range of additional services, such as live betting and odds updates. In addition, they have a customer support staff to help with any issues you might encounter.

Legal sportsbooks in the US are a relatively recent development. While Nevada has allowed sports wagering for decades, most states only made it legal in 2018. The Supreme Court decision in 2018 allowed all US citizens to gamble at a sportsbook, and many have since opened their doors.

Sportsbooks make money by setting odds that aim for balanced action on both sides of the bet. To do this, they take into account the expected margin of victory and move lines as needed to reduce liabilities. In addition, they adjust odds based on new information (injuries, lineup changes, etc).

The most common type of bet is a straight bet, which is a wager on a single outcome. For example, you could place a bet on the Toronto Raptors to win their game against the Boston Celtics. Another popular bet is the over/under bet, which is a wager on the total number of points scored in the game.

In addition to offering a variety of betting options, sportsbooks often have special promotions and bonuses for new customers. They also have a wide range of tools to help users manage their accounts, including self-imposed limits on how much they can deposit or wager in a day, week, or month. These restrictions can help prevent overly hopeful or desperate moments from clouding a bettor’s judgment.