What is a Bookmaker

What is a Bookmaker


If you do not yet know what bookmakers are, how they work, and what the world of sports and football betting looks like, then this article will undoubtedly help you acquire the basic knowledge related to the above topics. So, let’s go.


A bookmaker is a group of people who make wagers with players in the field of various events, in our case this is all about football. That is, you, being a bookmaker’s client, bet on an event or several events. And then everything is simple: if the event occurs, then you return the money you put, plus you get a prize in money equivalent, and if it does not, you lose the amount of money that you bet on it.

For general development we will share with you the information that bookmakers besides sports accept bets on anything you like. Starting from politics, music, art, and ending with events related to the appearance on our planet of representatives of extraterrestrial civilizations.

Naturally, the lower the probability of an event, the more money you will earn, in case you bet on it, and it happens by some fantastic coincidence. The most popular wagers of today’s world are sports betting events: tennis, basketball, hockey, fights without rules, football, volleyball, and many other kinds.

At the same time, the higher the interest in the upcoming event, the more betting options are offered by the bookmakers (the number of cards, the number of injuries, the scored goals, the exact time of the event, and much more).

How do Bookmakers Make Money?

Perhaps you will be surprised, but the bookmaker do not really care whether you will win or you will lose! In each odd bookmakers prudently put a margin, that is, a certain percentage, which is their main profit for the services provided.

The odd is a certain number, which depends on the possibility of realization of a certain event and the amount that you have bet is multiplied by the odd. For example, the event should occur with a probability of 60%, it turns out that you need 1/60% or 1 / 0.6 = 1.66.

In order to make a profit bookmakers replace 1 by a number no lower than 0.9, in this case we see that the margin equals 10%. In the end, it turns out 0.9 / 0.6 = 1.5. Thus, the coefficient decreases, and with it, the amount of your winnings. Usually the margin does not exceed 6%, but in general you can earn a stable profit when the margin amount does not exceed 12%.

The income of any bookmaker is a small percentage of the total financial turnover within the resource, but believe us, this is a huge amount of money.

The History of Bookmakers

In the 19th century, Pierre Oler, who was from France, first opened a bookmaker’s office. He was engaged in taking bets on horse races from people. Passion always went hand in hand with humanity, so the idea turned out to be promising and there was no end to the customers.

Having picked up such a promising business, entrepreneurs around the world began actively to open bookmakers. Currently, the unconditional leader in this area is the UK, where even laws allow any private organization to legally engage in bets on sports events.

As for America, at that time the government in almost all states at a legislative level prohibited bookmakers to carry out gaming activities. This led to the dawn of clandestine bets, as well as various inventions, for example, cockroach races were invented.

The most famous state in which gambling and bets were resolved is Nevada. All of us many times heard about the wonderful city of Las Vegas – the capital of the game business, the great empire, the dream of any gambler! In Russia, the bookmaker movement originated only in the late 20th century.

Online bookmakers

Only a few years ago, sports bets were made exclusively in person and on particular places or bookmaker’s offices. Today, with the development of information technology, the online bookmakers gain more and more popularity every day. Such popularity is due to the fact that players do not need to waste their time on the way to the bookmaker’s office to place their bets. In addition, there is no link to the geographical position, and you can do betting from any point on the world map, having a device and access to the Internet.

It turns out that virtual bookmakers are in no way inferior to the real, and often are more affordable and profitable, since the owners do not need to pay for renting premises and bear other costs that are relevant for bookmakers working outside the Internet.

Bookmaker line

To make a bet, you need a betting line. This line is a list of various events that can be bet on, these lines are described in detail on the bookmaker’s sites.
Each line has odds, according to which the calculation of earned funds will be made, if you win. In other words, the odd is the fraction of the probability with which an event can occur.

For example, a game is planned, and the bookmaker offers two options for the development of events: team A victory or team B victory. Let’s assume that the odd of the first event is 1. 7, and the second is 2.3, then the first outcome may come with a probability of 100 / 1.7 = 58 %, And the second – 100 / 2,3 = 42%.

If you put 100€ on the first odd and this event happens, then the win will be 170 – 100 = 70 euro of net profit, and if the event does not come, the defeat will make you poorer by 100€.