A sportsbook is a gambling establishment that takes bets on various sports. It can be a website or a brick-and-mortar facility. The business is regulated by the state in which it operates, and is subject to federal taxes and gambling laws. Many states have legalized sports betting since the Supreme Court overturned the Professional and Amateur Sports Protection Act in 2018.

To make money, sportsbooks charge a fee for losing bets, called vigorish or juice. It’s usually about 10% of the total amount bet. This is a significant profit margin for the bookmaker, and it’s the reason why many sportsbooks offer bonuses to attract punters.

Sportsbooks also adjust betting lines for a variety of reasons. They may move a line when they’re concerned that there is too much action on one side of the wager. In other cases, they might move the line to balance action and reduce potential liabilities. They might also move a line to reflect new information, such as injuries or coaching changes.

A common type of bet is the Over/Under. These bets are made based on the combined score of both teams in a game. An over bettor will want the total to be higher than the proposed number, and a under bettor will want it to be lower. If the final adjusted score is a tie, the bet is considered a push and most sportsbooks will refund bets on these bets, although some count them as losses.