A sportsbook is a gambling establishment that accepts bets on various sporting events. Typically, these bets are placed on professional or college teams and individual players. The odds for these occurrences are set by the sportsbook based on their probability of happening, and bettors can choose between the underdog and favorite team.

In order to run a sportsbook, it is necessary to obtain a license from a governing body. This process can take up to 18 months and requires the implementation of age verification, self-exclusion programs, deposit limits, regular audits and reporting, as well as compliance with laws and regulations. Choosing a customized solution can help you meet these requirements and ensure your product’s scalability and legality.

One of the best ways to grow a sportsbook is through content marketing. This tactic can be used to promote the sportsbook’s bonus program, reward its customers, and attract new users. It is important to know your audience, however, and to provide content that appeals to them.

Another way to attract users to a sportsbook is through referral programs. This is a type of promotion that rewards current customers for referring friends and family to the site. Typically, the reward system consists of financial compensation or free bets. There are a variety of different types of referral programs available, including flat-rate or percentage-based systems.