How to Set Up a Sportsbook

A sportsbook is a type of bookmaker that accepts bets on sports events and pays out winning bets. It is also called a racebook or online sportsbook and has become a major industry since the 2018 Supreme Court ruling legalizing sports betting in the United States. In addition to accepting bets, a good sportsbook treats customers fairly, has security measures in place to safeguard personal information and expeditiously (plus accurately) pays out winning bets.

A good sportsbook will offer a full range of pre-match and live bets with odds on all the main sporting events. It should also be mobile-friendly and offer a variety of banking options for convenience. Promotional offers such as free bets and no deposit bonuses are important for attracting new players.

In terms of betting markets, a sportsbook should have a wide selection covering major sports like football, tennis and basketball. A top-quality bookmaker will also cover smaller sports, including darts, cricket, snooker and rugby league.

Setting up a sportsbook from scratch takes time and resources. It is also possible to buy a white-label sportsbook from an established supplier, which can save time and money. However, the quality of a white-label product may not match that of a custom sportsbook and it can be difficult to get bespoke features from a provider. Ultimately, the best option is to develop a bespoke site that will fully meet customer needs. This approach will give the operator complete control over the sportsbook brand and will not rely on other companies to supply software for odds compiling, payment methods and risk management systems.