A sports betting provider is an online bookmaker that provides bettors with the opportunity to place bets on a wide range of sporting events. These include popular soccer and basketball leagues, as well as MMA, boxing, and other combat sports. Most sports betting providers also offer a variety of live bets, which can make the experience even more exciting. They are also known for their attractive bonus promotions, which often come with a certain wagering requirement that must be met before the winnings can be cashed out.
One of the biggest challenges for an independent bookmaker is gaining access to legal sports betting markets. Most states have passed laws that allow sports betting, but the resulting sportsbooks must be licensed and contract with platform providers and other vendors who can deliver a full online product. It’s important for a sportsbook operator to do some fact-finding before getting into the market.
In Washington, DC, for example, only two online sportsbooks are currently available. The city council approved the sports betting law in 2018, but GambetDC and Caesars Sportsbook are only available to residents in a geofenced area around the Capital One Arena. The District also has a retail sportsbook that’s operated by Intralot, but it’s not available to mobile users. The state of Iowa also sprang into action after the Supreme Court decision, with retail and mobile sportsbooks launched in 2020. The state’s offering is called PointsBet, and it’s distinguished by its unique eponymous product that allows bettors to scale their wagers, so bets that win by larger margins pay out more, while bets that lose by large margins deduct more.