What is sportsbook?
Definition and example from our casino glossary.
Definition
A sportsbook is the betting section of an operator where you place wagers on sports and other events at odds set by the bookmaker.
Many casino brands also run a sportsbook that shares the same account and wallet. Bets are placed at odds offered by the bookmaker, and those odds include a margin, also called overround or vig, which plays the same role as a casino house edge. For a two-way market priced at 1.91 on both sides, the implied probabilities add up to about 104.7%, a margin of roughly 4.5% on a balanced book. Unlike casino games, sports outcomes have no fixed published RTP, and prices move continuously. Sportsbooks have their own bonus conditions, such as minimum odds, and some regulators prohibit promotions that require using both casino and betting products. Apply the same limits to sports betting as to casino play, since in-play betting in particular is fast and can encourage impulsive decisions.