A gambling online sportsbook is a site that accepts wagers on various sporting events. Most of these sites offer different betting options, including player props, team and game props, as well as the option to create a parlay on a single event or multiple events. In addition, the top online sportsbooks feature a variety of payment methods, including Visa, MasterCard and American Express. Some even offer a branded Play+ card and e-wallet services, such as PayPal.
The number of states with legal sportsbooks is growing rapidly. After the Supreme Court overturned a federal ban on the activity in 2018, states have been making their own decisions about whether to permit the industry and how to regulate it. Some have chosen to prohibit the business altogether, while others are embracing it with open arms.
Many states, such as New Jersey, are leading the way by offering a wide selection of legal sportsbooks. Its 21 sites include fan favorites like DraftKings, BetMGM and Caesars Sportsbook, along with new operator models such as Prophet. In 2021, New Jersey saw handle surpass Nevada for the first time and currently ranks among the top five in the nation.
Other states are following suit. Michigan, which allows for up to 15 sportsbooks, launched its first on March 11, 2020. Its newest sportsbook is at the MGM Grand Detroit, which offers both in-person and online betting. The state also allows its tribal casinos to partner with iGaming operators and has recently signed legislation that would permit the Oxford Casino Hotel and Hollywood Casino Hotel & Raceway to do so.