What Is A Bookmaker in Regards to Sports Betting and Wagering?
by Doc's Sports - 10/11/2014
The term "bookmaker" is a more formal term for the commonly used slang term bookie. Though bookie can have a shady, illegal connotation, that isn’t always the case. The word bookmaker, which is more common in the UK can than the US, can be used interchangeably with sportsbook, or the shortened form of book. A bookmaker simply take bets on sports, and guarantees a return at agreed upon odds if the bet is successful.
Free $60 in Member Picks No Obligation Click Here
At least theoretically, the job of a bookmaker is simple. Square bettors will often think that they are facing off against the linemakers at sportsbooks, trying to outperform them in picking winners. That just isn’t the case. Bookmakers want to act as market makers. When they set their ideal odds then one team is as attractive to half the bettors as the other team is to the other half. If one team is significantly more attractive to bettors than the other once the line is live then the bookmaker will just shift the line. The bookmaker takes in the money from the losing bets, takes a commission, and pays out the rest to the winning bettors. As long as the action is reasonably balanced in a game, the books have no risk and are assured profit regardless of the outcome of the game. Because of that, bookmakers are concerned when setting lines not with predicting who will win the game, but rather how the public is likely to perceive the game.
There are a wide range of bookmakers available for betting depending upon where you are. In the UK betting on sports is legal and widespread, and there are betting shops all over the place. Bookmakers are also widespread in Las Vegas. There are just a few other jurisdictions where sports betting of one sort or another can be done in the US. In Canada, only the government can legally act as a bookmaker, offering sports lotteries with poor odds. Bookmakers are very common on the internet, though using them is not legal in all jurisdictions. It is up to the bettor to understand where and how they can legally bet.
Doc's Sports is offering $60 worth of handicapper picks absolutely free - no obligation, no sales people - you don't even have to enter credit card information. You can use this $60 credit any way you please for any handicapper and any sport on Doc's Sports Advisory Board list of expert sports handicappers. Click here for more details and take advantage of this free $60 picks credit today .
- How to Bet on Tennis: Step-by-Step Guide for Amazing Wagering Results
- What Does WHIP Mean in Baseball? Description with Examples
- What Is A Trifecta Wheel In Horse Racing and Sports Betting?
- What Does Trifecta Mean In Horse Racing and Sports Betting?
- What Does Trifecta Box Mean In Horse Racing and Sports Betting?
- What Is A Sportsbook in Regards to Sports Betting and Wagering?
- What Does Lost By The Hook Mean In Sports Betting and Wagering?
- What Is A Linemaker in Regards to Sports Betting and Wagering?
- What Is A Line In Sports Betting and Wagering?
- What Does Limit Mean In Sports Betting and Wagering?