Q. should you embed or link your OBW?
A. you can do either or both
If you embed the wizard on your page it will look like it is part of your site. To do this you will use an iFrame.
Details can be found here.
The results are something like this:
example from our friends at Alpine Sports, Morzine, France
The example is that it can be surrounded by all your own branding, above and below.
some people prefer a simple button which says 'book now'. When the visitor clicks on that button it opens a new web page and loads the OBW full-page in there.
This is known as linking. Some people say this provides a better mobile experience - though embedding also works well on mobile devices when done right.
Here is an example from our friends at Sycamore Cycles, USA
embedding your online booking in an iFrame