Sportsbet is an online betting site that offers bets on a wide range of sporting events. It offers a variety of features including mobile and desktop betting, live streaming, and multi-bets. In addition, it offers a variety of promotions and bonuses for new customers.

A sportsbook’s odds and lines aren’t just based on how the event is expected to play out; they also reflect the betting public’s perception of how likely it is that an underdog team will win. This is because sportsbooks want to attract roughly equal action on both sides of a bet in order to avoid large losses.

This is why it’s important to understand the concept of implied probabilities and how they affect odds and payouts. Once you understand these concepts, you can use them to create value in your bets.

When Matthew Tripp founded sportsbet in 2013, he correctly predicted that the internet and mobile phones would bring about a boom in online, phone, and app-based sports betting. He also created clever marketing techniques like money-back specials and ‘justice’ refunds, which gave punters their money back in cases where they were unlucky. Despite the fact that Tripp signed a non-compete clause after selling his stake in sportsbet to Paddy Power, he went on to create another massively successful bookmaker called BetEasy before selling it to Crown Resorts casinos last year. The company is now known as CrownBet. It operates in Australia and is regulated as a corporate bookmaker under the Racing and Betting Act 1993 (NT).