Bookmaker. What it is
Bookie — organization (at least one) whose job it is to offer wagers on outcomes of sports (and sometimes other events). The bookie takes the money (bet) at a specified odds and pays out winnings.
Bookmakers. The history and formation of
Modern bookmaking originated in the XIX century, and its founder is a French shopkeeper Pierre Oehler. In 1872 he opened the first point for betting on the racing results. Since then, the basic principles and rules of betting activity has not changed. In the UK, the first bookmakers began in the nineteenth century. Now the country holds the first place in the world in the number of bookmakers and players betting.
Widespread bookmaking purchased in the United States. Zapredelnoe officially in most States (except Nevada with the capital of gambling Las Vegas), gambling and betting become in the US a subject of interest in the criminal clans, who organized underground betting shops. Along with prostitution and clandestine drinking establishments, illegal bookmakers have become a source of formation of capital of the American mafia. In the field of betting the money came not only equestrian events, but their “small variety” — the dogs. Americans, as always, contributed, and even invented the “cockroach races” in which you could bet on your favorite cockroach. With the advent of collective sports games, the bookies have started taking bets on other competitions, such as the results of football matches. In England and some other countries to open bookmaker office and to accept bets, after obtaining a license, every private company, in other countries this right belongs to the state. Somewhere Zapredelnoe de jure bookmaking transformed into lottery (all kinds of Sports forecasts).
In the first place by the number of bets from any European bookmaker with a wide margin is football, often make bets on games of local teams. Followed by hockey, basketball, tennis, racing, “Formula 1” and less popular sports. Some bookmakers are experimenting with political and other exotic bets: the victory in the Eurovision song contest, presidential elections, etc. There are bookies that take bets on a re-coming of Christ and even the capture of the Earth by Martians. Ratios of 1 to 1,000,000 and above :). Betting on such events are unpopular, but attract the attention of customers and the media.
The basis of the work of the bookie is mainly mathematics. Major bookmaker daily offers its clients several thousand events. The betting options are even more numerous: you can bet on the winner, final score, number of goals etc. In accordance with the views of bookmakers on which team in this competition the favorite is assigned a handicap. For example, +2 means that the favorite must win by 2 points. However, the main interest for the player is the factor by which multiplied his winnings. The coefficient exhibit the bookmakers. It varies from 1.01 to 50-100 and above. In the correct determination of the coefficient is the point of having a bookie. The competition schedule with the rates and odds ratios for one day is called “line”. Analytics, components of the lines, the main getters of the bookmakers. These professionals can receive up to 10% of the profits of the firm.
The profits of bookmakers
Depending on the margin, laid in a line, the income of the business at year-end may reach 7-8% of turnover, but it is “dirty”. After accounting for all expenses, bonuses to players, salaries, advertising (some spend millions, if not tens, sponsorship) is only 1-2%. However, given the tremendous passion of people to the game, in the end? due to turnover, the market leaders reach several billion euros per year, bookmakers are extracted from your business good profits.