Sportsbook

A sportsbook is a place where people can place back bets. As the name would suggest, sportsbooks predominantly focus on offering markets related to sports bets, but other events - such as the Eurovision song contest, reality TV shows, and politics - can also be offered. When betting at a sportsbook, the bettor is placing bets directly with the operator rather than with another individual (as is the case with betting exchanges).

Odds
All sportsbooks offer odds on the outcome of events. These odds can be displayed in fractional form - as is most common in the UK - or sometimes as decimal odds and American odds.

Online and Offline Options
Sportsbooks are offered both online and offline. Offline betting shops, such as William Hill, run a sportsbook from their betting shops as well as an online division which offers sports bets on a range of markets. However, it is not necessary for an operator to have an offline presence in order to run an online sportsbook: the likes of NetBet, LeoVegas, and Betway all have large online sportsbooks, but do not have physical betting shops for punters to visit.