Betting online is one of the most popular ways to wager on sports and other events. It can be done through legal betting sites operated by state-licensed operators, as well as through private enterprises known as bookmakers or sportsbooks. Whether you’re a casual player or a professional gambler, the key to making a profit is keeping your losses as low as possible while maximizing your profits. This is easier said than done, but with some basic strategies you can make smarter bets and increase your winnings.

Online betting is available in more than 35 states and the District of Columbia. Most operators offer a simple and straightforward registration process that allows new customers to spend less time signing up and more time betting. Once registered, you can access a full range of bonuses and features such as big welcome bonuses, odds boosts, elite rewards programs, and an easy-to-use sports betting app.

Sportsbooks set odds on occurrences in games based on their probability of happening, and bettors can then choose which side to place a wager on. A sportsbook’s goal is to balance the bets on both sides of a game by giving the underdog a certain number of points that they must win or lose by to cover the spread.

Colorado became the 19th state to legalize sports gambling in 2020, and multiple operators began accepting bets online shortly after. The state’s laws allow residents to place wagers on both pro and college sports, though bets on in-state collegiate games are prohibited.