Sportsbooks accept wagers on different sports events and have betting odds that reflect the probability of a particular outcome. The most common betting options are against the spread bets and over/under (total) bets. They also offer prop bets, which are wagers on specific aspects of the game. In the United States, most top online sportsbooks provide American odds, which use positive (+) and negative (-) symbols to indicate how much money you can win if your bet is successful.
Sportsbook odds move for a number of reasons. Sometimes a line will open that induces lopsided action on one side, which can be a liability for the bookmaker. In other cases, a new piece of information may be released that changes the public’s perception of a team or player’s chance of winning. A sportsbook may also move lines to better balance the action in order to reduce potential liabilities.
In addition to moving handicaps, a sportsbook can also move odds in moneyline bets and adjust totals in over/under or prop bets. For example, if a sportsbook saw heavy action on the over on Patrick Mahomes’s passing total, it could lower the under from -110 to -125. It would then simultaneously raise the over from 249.5 to 252.5 yards to induce more action on the over.
Another important aspect of a sportsbook is its ability to pay out bets when they’re right. This is called vigorish or the sportsbook’s commission, and it allows them to offset losses from bettors who are wrong about the outcome of a game.