Before starting your sportsbook business, it is essential to assess how much money you need. This will depend on how many bets you will take per day. You can start small with a few hundred dollars, but if you intend to operate in a high-traffic area, you may need at least half a million dollars to get off the ground. In addition to the start-up money, you should also have a cash reserve.

Offer a good welcome bonus

When looking for a sportsbook, it is important to look for a good welcome bonus. This is typically a percentage of your first deposit, and you can claim it as much as $1,000 for a new account. Some sportsbooks also offer special bonuses for particular events. You may be able to get additional bonuses for different sports, such as college basketball or NFL football games.

Deposit bonuses are enticing, but they come with important conditions. Different sportsbooks have different requirements for unlocking the full bonus. For example, DraftKings requires a high deposit to qualify for their welcome bonus, and they have a 25-times playthrough requirement. By comparison, theScore Bet only requires a 20-times-playthrough requirement. However, if you are new to sports betting, this requirement may make it too complicated.

Another option is to offer a $1,000 risk-free bet. BetMGM’s welcome offer will return the bet amount as bonus cash or site credit, while FanDuel credits the wager amount in the form of free bets. There are also deposit match bonuses that will match the amount of money you deposit on your initial bet. The percentage of the match will vary between sportsbooks, but the amount is usually close to 100%.

Allow bettors to place bets from anywhere

Iowa legalized sports betting in August 2019, and the first retail sportsbook opened its doors to bettors the same month. Starting January 2021, mobile users in the state will be able to register on sportsbook apps regardless of where they are. Until that point, bettors in Iowa needed to visit a physical sportsbook to place bets. Live operators in the state include DraftKings, PointsBet, and William Hill.

Downloading a sportsbook app for your mobile device is easy. Using the apple store is the easiest way to find the app for your mobile device. Alternatively, go to a sportsbook website and search for an app. Once you’ve located the app, tap the download option. A sportsbook app can also be downloaded from Google Play Store. Note, however, that not all sportsbooks are available on both stores.

Once legalized, the first sportsbook in Maryland is expected to open by the end of 2022. The state is a conservative state, and has made several notable attempts to legalize sports betting. The most recent effort is expected to pass in the next few years, and a sportsbook in the state could open its doors as early as 2022. Until then, bettors can play DFS games and bet on horse races online.