Be Bookmaker

B-A-B is all you need as a Bookmaker. The platform consists of Shop software with point of sale programmes for your PC, website in any language for your customers, mobile site so they can bet with their smartphone, SMS software so your customers without. Now you can with the Bookmaker Card. Instantly transfer your winnings and make purchases with Visa PayWave, EFTPOS and at any ATM. Favourite Vs Field. Take on the favourite with the Field! If you think the favourite looks vulnerable increase your chance ot beating them by backing the whole field. You can now do this in one simple bet! BookMaker does it all for you, automatically, following the styles and settings you’ve chosen from BookMaker’s custom ribbon interface: If you’re making a book in Microsoft Word, you need BookMaker! Try BookMaker free for 45 days! Download BookMaker for. A bookmaker's margin is basically the net return that bookmakers should profit over the long term. An example of a tennis match, priced up by bookmakers: Rafael Nadal 1.53 (8/15). Noun a person who makes a business of accepting the bets of others on the outcome of sports contests, especially of horse races. A person who makes books.

A bookmaker, bookie, or turf accountant is an organization or a person that accepts and pays off bets on sporting and other events at agreed-upon odds.

History[edit]

The first bookmaker, Ogden, stood at Newmarket in 1795.^[1]

Range of events[edit]

Bookmakers in many countries focus on accepting bets on professional sports, especially horse racing and association football (soccer). However, a wider range of bets, including on political elections, awards ceremonies such as the Oscars, and novelty bets are accepted by bookmakers in some countries.

Operational procedures[edit]

By 'adjusting the odds' in their favour (paying out amounts using odds that are less than what they determined to be the true odds) or by having a point spread, bookmakers aim to guarantee a profit by achieving a 'balanced book', either by getting an equal number of bets for each possible outcome or (when they are offering odds) by getting the amounts wagered on each outcome to reflect the odds.^[2] When a large bet comes in, a bookmaker may also try to lay off the risk by buying bets from other bookmakers. Bookmakers do not generally attempt to make money from the bets themselves but rather by acting as market makers and profiting from the event regardless of the outcome. Their working methods are similar to those of an actuary, who does a similar balancing of financial outcomes of events for the assurance and insurance industries.

Legality[edit]

Depending on the country, bookmaking may be legal or illegal and is often regulated. In the United Kingdom, since 1 May 1961, bookmaking has been legal and has even been a small contributor to the British economy, with a recent explosion of interest with regard to the international gaming sector industry. However, gambling debts were unenforceable under British law until the Gambling Act 2005. Many bookmakers are members of IBAS, an industry organisation used to settle disputes.

Bookmaking is generally illegal in the United States, with Nevada being an exception due to the influence of Las Vegas. In May 2018, a United States Supreme Court ruling struck down the Professional and Amateur Sports Protection Act of 1992, which prevented individual states from legalizing bookmaking.

In some countries, such as Singapore, Sweden, Canada, and Japan, the only legal bookmaker is owned and operated by the state. In Canada, this is part of the lottery programme and is known as Sport Select.

United Kingdom gambling industry[edit]

The first bookmaker in the United Kingdom is considered to be Harry Ogden, who opened a business in the 1790s, although similar activities had existed in other forms earlier in the eighteenth century.^[3][4]

Following the Gaming Act 1845, the only gambling allowed in the United Kingdom was at race tracks. The introduction of special excursion trains meant that all classes of society could attend the new racecourses opening across the country. Cash flowed to the bookmakers who employed bodyguards against protection gangs operating within the vast crowds.^[5] Illegal betting shops were fined, but some, like Bella Thomasson, ran betting businesses that the police appeared to turn a blind eye to.^[6]

In 1961, Harold Macmillan's Conservative government legalised betting shops, with tough measures enacted to ensure that bookmakers remained honest. A large industry has grown since. At one time, there were over 15,000 betting shops. Now, through consolidation, they have been reduced to between 9,100 and 9,200 in 2013.^[7] The group of the largest bookmakers in the country, known as the 'Big Three', comprises William Hill, Ladbrokes, and Coral.^[8]

Improved TV coverage and the modernisation of the law have allowed betting in shops and casinos in most countries. In the UK, on-track bookies still mark up the odds on boards beside the race course and use tic-tac or mobile telephones to communicate the odds between their staff and to other bookies, but, with the modernisation of United Kingdom bookmaking laws, online and high street gambling are at an all-time high. A so-called super-casino had been planned for construction in Manchester, but the government announced that this plan had been scrapped on 26 February 2008.

Internet gambling[edit]

Although online gambling first started in 1994 when the licensing authority of Antigua and Barbuda passed the Free Trade & Processes Act, bookmakers did not get involved until 2001. They were forced to act when research at the time found there were eight million online players worldwide.^[9]

With the arrival of the World Wide Web, many bookmakers have an online brand, but independently owned bookmakers often still maintain a 'bricks and mortar' only operation as the software and hardware required to operate a successful online betting operation are complex and their costs are quite prohibitive; other bookmakers operate 'skins' or 'white label' websites, which they purchase from one of the large firms. The main websites require bets to be from countries where Internet gambling is allowed and from people over 18 years old. Some small bookmakers and startups purchase software from specialised white label solution providers. Since gambling products have a high conversion rate from one niche to another, most online betting websites also feature other gambling products such as poker, live dealer casino games, lottery, bingo, slots and other casino games. Controversially, the explosion in Internet gambling is being linked to a rise in gambling addiction, according to the UK's help and advice organisations for addicts, GamCare and Gamblers Anonymous.

Increasingly, online bettors are turning to the use of betting exchanges such as Betfair and BETDAQ, which automatically match back and lay bets between different bettors, thus effectively cutting out the bookmaker's traditional profit margin also called an overround.

These online exchange markets operate a market index of prices near but usually not at 100% competitiveness, as exchanges take commissions on winnings. True wholesale odds are odds that operate at 100% of probabilistic outcomes.

Betting exchanges compete with the traditional bookmaker. They are generally able to offer punters better odds because of their much lower overheads but also give opportunities for arbitrage, the practice of taking advantage of a price differential between two or more markets. However, traditionally, arbitrage has always been possible by backing all outcomes with bookmakers (dutching), as opposed to laying an outcome on an exchange. Exchanges, however, allow bookmakers to see the state of the market and set their odds accordingly.

With the increasing number of online betting exchanges, betting exchanges are now providing free bet offers in an attempt to lure customers away from the competition. These free bets are generally based on the size of the deposit made into the gambling account. For example, if a customer made a deposit of $20, the betting exchange would deposit an additional $20 for the customer to use.^[10] Free bet rules vary depending on the betting exchange.

Some bookmakers have even taken to using betting exchanges as a way of laying off unfavourable bets and thus reducing their overall exposure. This has led to insecurity from some TABs in Australia, state-run betting agencies that attempted to deny Betfair an Australian licence by running unfavourable ads in the media regarding the company. When Tasmania granted Betfair a licence despite these efforts, the Western Australian state legislature passed a law that specifically criminalised using betting exchanges from within the state; however, the law was later ruled to be unconstitutional. As a result, internet gambling in Australia required a new legal framework. The Interactive Gambling Act 2001 regulates the online gambling market in Australia, together with all its amendments. The last amendment was introduced on 13 September 2017. This bill states that online casinos, online poker and live betting is illegal in Australia. The Australian Communication and Media Authority (ACMA) is the regulatory body that is in charge of all supervising online gambling activities. Online sports betting is legal, however.^[11]

Bets are also taken via phones, using email and SMS text messages,^[12] though poker and other sports are more suited to other media. As technology moves on, the gambling world ensures it is a major player in new technology operations.

Most televised sports in the United Kingdom and the rest of Europe are now sponsored wholly or partly by Internet and high street bookmakers, with sometimes several bookmakers and online casinos being displayed on players' shirts, advertising hoardings, stadium signs and competition event titles. Sponsors are especially highlighted in the football category since football fans present a significant percentage of the target group the bookmakers serve.

Many of the bookmakers are sponsoring some of the major football teams in the major European football leagues,^[13] although Werder Bremen are currently fighting the German courts for the freedom to continue featuring bookmaker Bwin on their shirts, as Germany and France take action against online gamers. For example, as of 1 January 2020, Germany bettors will not be able to bet more than €1,000 a month. The latest amendment of the ITG states that. New online sportsbook laws are expected in the near future in Germany, as this law is only temporary: the expiration date is set to be on 20 June 2020.^[14]

The situation is not that strict in France, however. Online sports betting in France is divided into two sections: Autorité de Régulation des Jeux en Ligne (ARJEL) regulates online sports betting, while online horse betting is regulated by the law 'Decree 2010-498 from 17 May 2010. International bookmakers are allowed to enter the French market, thanks to the Law No. 2010-476 from 12 May 2010.^[15][16]

With the recent banning of tobacco sponsorship^[17] and the significant commercial budgets available to the gaming industry, sponsorship by car manufacturers, alcoholic drinks, soft drinks and fast-food marketers is being rapidly replaced by sponsorship from gaming companies in the Far East and Europe.

The United Kingdom's Gambling Act 2005 introduced a new regulatory system for governing gambling in Great Britain. This system includes new provisions for regulating the advertising of gambling products. These provisions of the Act came into effect in September 2007. It is an offence to advertise in the UK, gambling that physically takes place in a non-European Economic Area (EEA) or, in the case of gambling by remote means, gambling that is not regulated by the gambling laws of an EEA state. The Gambling Commission is the body that makes sure all sites and operators follow the new restrictions. In addition to the Gambling Act of 2005, according to the new gambling bill, online gambling sites are only allowed to offer services within the United Kingdom, if they are registered at the UK Gambling Commission.^[18]

The situation is more confused in the United States, which has attempted to restrict operators of foreign gambling websites accessing their domestic market. This resulted in 2007 in a ruling against the US government by the World Trade Organization.^[19] However, common online gambling laws in the United States still don't exist - it differs from state to state. All forms of online gambling are illegal within the states of Utah and Hawaii, while the states of Delaware, Pennsylvania and New Jersey took a different approach: almost all forms of online gambling are legal in these states. These are the only US states where online casino sites can be legally registered. It is important to mention that Native Americans have their own gambling legislation - the Indian Gaming Regulatory Act of 1988. However, they need their state's approval in order to be able to offer their services online.^[20]

See also[edit]

• Bookies – a German film

References[edit]

1. ^Barrett, Norman, ed. (1995). The Daily Telegraph Chronicle of Horse Racing. Enfield, Middlesex: Guinness Publishing. p. 10.
2. ^Cortis, Dominic (2015). 'Expected Values and variance in bookmaker payouts: A Theoretical Approach towards setting limits on odds'. Journal of Prediction Markets. 1. 9.
3. ^Munting, Roger (1996). An Economic and Social History of Gambling in Britain and the USA. Manchester University Press. p. 89.
4. ^Vamplew, Wray; Kay, Joyce. (2005). Encyclopedia of British Horseracing. Routledge. p. 50.
5. ^Dick Kirby, The Race Track Gangs, The Peeler issue 7 July 2002, 'Friends of the Met Police Museum'
6. ^'Thomason, Ann Arabella [known as Bella Thomasson] (1874–1959), bookmaker'. Oxford Dictionary of National Biography. doi:10.1093/ref:odnb/56685.
7. ^Gambling Commission Gambling industry statistics April 2009 to September 2012
8. ^Vamplew and Kay, p. 51.
9. ^'A history of online casinos: infographic'. rightcasino.com.
10. ^'The Most Common Sportsbook Bonus Types'. Retrieved 24 August 2014.
11. ^Communications. 'Interactive Gambling Act 2001'. www.legislation.gov.au. Retrieved 4 September 2019.
12. ^'Betfred.com Chooses OtherLevels' Platform to Power Their Mobile Marketing Campaigns'. Market Watch. 28 July 2014. Retrieved 24 August 2014.
13. ^'A Look At Bookmakers Sponsoring Football Clubs'. ReliableBookies.com. 19 March 2013. Retrieved 19 March 2013.
14. ^'Entwurf eines Dritten Staatsvertrages zur Änderung des Staatsvertrages zum Glücksspielwesen in Deutschland (Dritter Glücksspieländerungsstaatsvertrag)'(PDF). Landtag Nordrhein-Westfalen.
15. ^LOI n° 2010-476 du 12 mai 2010 relative à l'ouverture à la concurrence et à la régulation du secteur des jeux d'argent et de hasard en ligne (1). Legifrance. Retrieved 4 September 2019.
16. ^Décret n° 2010-498 du 17 mai 2010 relatif à la définition des courses hippiques supports des paris en ligne et aux principes généraux du pari mutuel. Legifrance. Retrieved 4 September 2019.
17. ^Holman, C D'Arcy; Donovan, Robert; Corti, Billie; Jalleh, Geoffrey; Frizzell, Shirley; Carroll, Addy. 'Banning tobacco sponsorship: replacing tobacco with health messages and creating health-promoting environments'. The British Medical Journal. Retrieved 24 August 2014.
18. ^'The Gambling (Licensing and Advertising) Act 2014'. UK Gambling Commission. Retrieved 4 September 2019.
19. ^'WTO rules against US gaming ban'. BBC News. 30 March 2007. Retrieved 1 September 2011.
20. ^'Public Law 100-497-OCT. 17, 1988: An Act to regulate gaming on Indian lands'(PDF). Government Publishing Office [US]. Retrieved 4 September 2019.

The two most important activities that you should do when learning on how to become a bookie are learning how to acquire players and signing up with a pay per head service like Realbookies.com to take your players’ bets automatically with our betting software.

If you are in college and thinking about becoming a bookie, click here to see how a student took bets to pay off his college debts

The bottom line in bookmaking business is:

The more action you write, the more money you make. You will always want to add what you believe are solid players, not only to expand your business, but also to replace those customers who have proven to be bad debt or simply have been worn down by the house advantage.

Understanding that the customer who wagers only $100 a game will lose $3,000 to $4,000 over the course of any given season should give you plenty of incentive to hit the bricks. If you use your time wisely, reaching a customer base of 200 or so (a little better than average) should be no problem.

Getting new players is not as simple as advertising in the newspaper or sticking fliers on the windshields of cars when becoming a bookie. Nor can you just go out to the backyard, shake the customer tree, and watch them start falling to the ground.

Steps to become a bookie:

1. Learn about the business from blogs and experienced people
2. Find players
3. Partner with another bookie so that you both win
4. Get a great Pay Per Head Bookie Software
5. Start running and managing your business

What you have on your side, however, is word of mouth.

“I won $3,000 from my bookie this weekend, and he paid me in full at 10:00 A.M. Tuesday.” If enough co-workers and room mates and drinking buddies hear that, they are sure to say, “Hey, you think you could get me on with your bookie?”

The best thing you can do to expand your client list is continue to treat the customers you already have with respect, courtesy, and professionalism-and to always pay in full, on time, and in cash.

People like to talk, especially when they just spent their lunch break picking up a sack of money, and if all the talk about you is similar to that above, you will have no problems adding new players.

What if you are starting out with no customers? There are still ways to maximize returns on your efforts. The first step to becoming a bookie is to understand the basic truth that gamblers know other gamblers.

Think back to the first time you talked to a bookmaker. Didn’t you know somebody who was gambling and he set you up’? Or were you in the employee break room when one of your co-workers had a sports page out and was checking the lines? Nothing has changed since that time, except that gambling has become more popular than ever.

Should you open shop?

If you are considering opening your own sportsbook operation, odds are you know people who gamble on sports. Some of them are probably looking for a new outlet to wager. I always told potential customers who already had a bookie that if they would try me just one weekend, they would never go back to their previous bookie, and in the 8 1/2 years I was in the business, none ever did.

If you follow the guidelines on this page and conduct your business based on the information here, you will create many ex-customers for other bookies around your city.

You can start a football season with as few as 10 customers, and by the time bowl season has arrived, word of mouth recommendation should swell your pay sheet to 50 or 60.

At that level, even if the customers are small time, you should be employing an office clerk and a fax clerk while still leaving yourself a profit of $100,000 or so for six months of semi-work. Another way to increase customers as a bookie is to spend your leisure time where gamblers spend their leisure time.

But… Is It legal?

Here is a list for places where land-based Sportsbooks are legal. Also, remember that some states have started to loosen up regulations as well.

• Aruba
• Australia
• Bahamas
• Belgium
• Canada
• China
• Costa Rica
• Dominican Republic
• Ecuador
• France
• Guatemala
• Honduras
• Hong Kong
• Indonesia
• Ireland
• Italy
• Japan
• Macau
• Malaysia
• Mexico
• Netherlands
• Nicaragua
• Panama
• Portugal
• Spain
• South Korea
• Switzerland
• Taiwan
• Thailand
• US
• Turkey
• UK
• United Arab Emirates

Basic truth number two:

Golfers love to gamble.

Whether it is a $1-a-hole or $500-for-closest-to-the-pin wager, money changes hands when buddies get together on the links. Visit a golf warehouse or discount store, and the clerk there should be able to provide you with the names of several local private clubs you can join.

Many have stipulations that you have to be sponsored by a current member of the club, but some don’t. Find one where the membership fee is only $1,000 or so, plus monthly dues, and join. Besides improving your golf game (never a bad thing), being a member of the club will allow you to meet the other members of the club. Whether it is on the fairway or in the clubhouse, most of these men will enjoy a friendly wager from time to time.

You should be discreet when divulging how you make your living, but a cell phone call from a cart while the other three are deciding which club to use will start the conversation. Being proficient at spades, hearts, gin, etc., will also provide you the chance to meet other gamblers at the club.

Many older gentlemen go to the club every day to do nothing other than sit in the pro shop or locker room playing poker for eight or ten hours. Be friendly, be discreet, and, before long, you will be taking action.

The same basic truth (loving to gamble) applies to most guys who play tennis, but many actually participate in that sport for health benefits, and that is not our focus here.

BARS

Looking for more customers? Select a few bars in different parts of your city and become a regular. This does not mean you also become an alcoholic, as ginger ale or cranberry juice is usually what I order. (Trust me when I say that getting a DUI is not a fun thing, and it is even less so when the arresting officer sees that you have a hundred copies of the official betting schedule in your backseat. That’s what law enforcement refers to as a “clue.” But back to bars.)

When we say select a few “bars,” I am not talking about a T.G.I. Fridays or Chilis. I am talking about real bars. You know, the kind where when you walk in you can’t see anything for a minute or two until your eyes adjust. Real bars don’t have 143 televisions. They usually have one above the bar and one in the back room where the card tables are.

Find a few establishments like this and you have also just found a couple more customers. Go in, sit at the bar, and begin watching television. When you curse a basketball player for missing a free throw when his team is up by 17, the gamblers in the joint will know why you are upset. Most likely, they will be the ones to bring up sports wagering. “Who ya’ got?” is a common opener. When you reply, “I’ve got something on every team,” the conversation is started, and pretty soon you have another reason to visit the bar.

Partnering With Another Bookie

Probably the best way to get a lot of customers on your ledger in one motion is an arrangement where another bookie becomes a “sub-book” to you. It works like this:

Almost without exception, small to mid-size bookies will shut down after the NCAA basketball tournament is over and not reopen until football season starts in August. You should have no problem finding a player who, toward the end of basketball season, is looking for a new place to play so that he can bet on baseball.

The truly amateur bookie will think only of adding one new customer and, while taking on the new guy, will promise not to tell his regular bookie that he has gone somewhere else. What you should be doing in situations like this is not only have him tell his regular bookie about you, but ask that he put you in touch with his regular bookie.

At this point, you can present a no-risk offer to the bookie who is planning to stop taking action for a while. What you propose is that he tell all his current customers that he will be shutting down for baseball, but that if any of them want to get action on the games, he can recommend someone who is staying open.

Explain to the bookie that you will keep a separate record of whatever money, as a group, his customers wind tip collecting as a net winner or paying as a net loser. If they finish the season on the plus side (they won’t), you will pay out every penny. If they finish the season on the negative side (they will), you and he will split the profits 50-50.

All he has to do is meet with you each Tuesday morning to get the figures and then go pay or collect from the guys he put on. It will cost him nothing. He will have to do almost no work. He will make money.

Make sure the bookie realizes that in no way are you trying to snake his customers, just make money for both of you. He is planning on being closed anyway and, if he does it his way, he makes zero dollars for the summer.

Do it your way and he makes many dollars for the summer. Abiding by that agreement will, at the very least, be a money maker for a few months for you and the other bookie (now a “sub-book” to you). What normally happens is the bookie (a lazy creature by nature) will realize that he made a bucket of money for working one day a week, and when August creeps over the hill, will suggest that you two continue the arrangement.

Do this once a year and you will be extremely wealthy. You know the best part of this deal? With the extra money you get from this sub-book’s customers, you will be able to more than pay for another clerk, and now you won’t be working every day, either.

Bookmaker Sportsbook Reviews Bad

Becoming a member of a VFW or Eagle’s lodge or similar organization is another fantastic way to grow your bookie business. I had been a bookie for seven years when I joined one just north of Atlanta, and within two days, they had taught me new ways to gamble on sports. The bartender was the guy at the lodge who organized all the betting there, and he was confused by it, more than anything else.

He was happy when someone came along offering to help. “Helping” quickly turned into I had 53 new customers as a result of paying my $200 initiation fee. Besides being served semi-warm beer and having to listen to much more Hank Jr. than I ever knew existed, there was little downside to it.

Finally, I have acquired customers in a variety of other ways. Bookies have died, gone semi-legit, gotten married, gotten scared, or gone to jail (nongambling-related charge).

Will Bookmakers Be Open On Monday

Hell, one buddy of mine decided that having to work three hours a day was just too much for him. For whatever the reason, if you can beat the bushes and open with even 10 or 12 guys, you will have 50 before you know it.

At that point, you are making a decent enough chunk of change to hire a clerk to work with your pay per head software service. You can then justify making him work all the shifts by himself, as you are out “recruiting new customers”.

Once you have built up a list, the next move is to acquire the correct software to automate taking the bets and the other every stuff that comes with being a bookie. For that please read on the best sportsbook software to use and the advantages of using a PPH service like RealBookies

If you are a beginer, right now you are wondering where to start acquiring the knowledge that will allow you to thrive in the Bookie Business, start with the Bookmaking Essentials course at Bookie Academy.

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