Last updated on January 10th, 2024 at 07:35 am
In the early days of modern sports betting, a bookie was often seen as a shady person. This is because they would take illegal bets on horse racing, fights and pretty much any type of sporting event. In additions, TV shows and movies would often portray them as violent and dangerous individuals. While this may have had some truth in the past, this is not an accurate description of a bookie. So today, we answer the question at to What is a Bookie in today’s society.
By definition, the term “bookie” is slang for “bookmaker” and is simply a person who facilitate gambling on sporting events. As part of their job a bookie will set betting odds, accept wagers, payout and collect money from players. Before we get into whether bookies utilize “leg-breakers” to collect debts, let’s talk about types of bookies.
Bookie Categories – Credit and Post Up Business Model
Bookies will fall into 1 of 2 Types of categories. The ones that take bets on credit and the ones that require a deposit before they take a bet.
The credit bookie is the one that will let players place their bet on credit. This means that at the end of each week or month, the players and bookies settle the books. Thus, in the old days, a credit bookie may have had to resort to violence to get money from players.
Today, this will probably never happen as being a bookie is now seen as a respectable job. In addition, since being a bookie is a legal job is most places, the law is with them.
The second type of bookie is the Post-Up Bookie. This is simply a bookie that requires the player to deposit money with them before they can place their wager. For bookmaker, this is much safer option for them as they do not have to worry about collecting money. However, it can lessen the number of customers they have if they switch from credit to post-up. However, with a post-up operation, bookies will usually offer some kind of deposit bonus to entice customers.
Needless to say, there are advantages to either methods.
How Does a Bookie Earn Money from Taking Bets?
Sportsbooks make money from gamblers by taking a commission for every bet they take. This is done by setting and creating betting odds for each sporting event. The theory and the math are simple enough to understand but the it does require a lot of time and effort.
Here is a video on How bookies make money to help you understand it better.
What is a Bookie and How to Become One
Today, being a bookie is a much more complex endeavor then before due to the many sports betting market options. This is because it requires many more calculations and data to setup lines for live betting. In addition, the sports world is much bigger due to the increase in sports leagues around the world. However, thanks to advancements in sports betting software and platforms, it is also much easier.
According to gambling operators, the easiest way to become a bookie is by using a bookie pay per head service. This is because a Pay Per head provides everything necessary to open a successful sports wagering operation. Furthermore, this includes the sportsbook software and platform, a player website, the infrastructure, banking features, call center and more.
>> More Information on How to Be a Bookie
Services a Bookie Pay Per Head Provides
In general, here is what a Bookie PPH service will provide:
WHAT YOU GET:
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WHAT YOUR PLAYERS GET:
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In addition, the cost of being a bookie is with a pay Per Head Service is very cost-efficient. Or at least, it is with PricePerPlayer.com as we charge $5 or less per player!
Open a Bookie Business with PricePerPlayer.com for $5 or Less Per Player
Call us at 1-866-500-4934 or email us at [email protected] for more details
