  In 2010, Turaev introduced knotoids as a variation on knots that replaces the
embedding of a circle with the embedding of a closed interval with two
endpoints. A variety of knot invariants have been extended to knotoids. Here we
provide definitions of hyperbolicity for both spherical and planar knotoids. We
prove that the product of hyperbolic spherical knotoids is hyperbolic and the
volumes add. We also determine the least volume of a rational spherical knotoid
and provide various classes of hyperbolic knotoids. We also include tables of
hyperbolic volumes for both spherical and planar knotoids.
