A sportsbook is a business that accepts bets on various sporting events and pays out winnings. It is a regulated industry in some states. In the US, it’s possible to place bets online or over the phone. Many state-regulated operators offer large bonuses and attractive odds boosts, while others have a sleek interface that is easy to navigate. Regardless of which type of sportsbook you choose, make sure that it has effective recordkeeping measures and protects its data against cybercrime.

When choosing a sportsbook, investigate its betting menu to determine which leagues and markets it covers. A great sportsbook will include both pre-match and in-play betting markets for a range of different sports. In addition, it will also offer ante-post markets for major tournaments such as the FA Cup in England and the World Cup Finals.

The business model for sportsbooks is largely dependent on promotions and ad spend. According to a 2021 Deutsche Bank report, promotional offers in Colorado, Michigan, and Pennsylvania accounted for nearly half of the sportsbooks’ revenue inflows. However, these promotions can be costly for a sportsbook.

Using an affiliate program can help a sportsbook attract more customers. By joining an affiliate programme, a sportsbook can pay its partners for bringing in new players. Affiliates typically receive a percentage of the total amount of bets placed by the new members they bring in. Some affiliates can earn as much as a high five-figure sum every month.