What is a Bookie?
Last updated on February 12th, 2025 at 07:45 am
As legal sports betting is becoming more popular around the world, bookies are once again in the spotlight. However, this time it is in a more positive light. What was once a negative term for someone who takes bets is no longer true. So what is a bookie today and how did it go from being normal job, to having a bad reputation? And now back again to being a respectable job?
Before we can explain that, we must first define the word “bookie” and what that word represents in modern society.
What is a Bookie – Defining the Job of a Bookie Today
Definition of Bookie – By definition, the term “bookie” is slang for “bookmaker”. In turn, a “bookmaker” in the gambling world is a person or an organization that accepts bets on sports events. Therefore, the original version of a bookie is a person who facilitate gambling on sporting events.
The early version of a bookie was the person that held the money for 2 people betting with each other. During that time, the bettors made their own odds. However, the bookie eventually became the odds maker as well.
Since they wrote everything in their little book, they became known as bookmakers.
Later on, the practice evolved with bookie charging a commission from each bettor for taking care of their wager. “
This commission a bookie charges is known as the “vig,” “vigorish,” “the cut”, or “juice.”
Charging a fee became a turning point for bookies. This is because they had to get more create with different types of odds to get more people to bet on sports.
Here is a video on How bookies make money to help you understand it better.
The best part of being a bookie is that it doesn’t matter if a player wins their bet or not. This is because no matter the outcome, they still take their commission!
One could say that being a bookmaker is comparable to being a stock or commodities broker. A great explanation of what it is comes from the movie, “Trading Places” with Eddie Murphy. The movie is about a homeless person trading places with a commodities broker. One famous quote from that movie is when they try to explain the job of a commodities broker. After the explanation, Murphy replies with “it sounds like you guys is a couple of bookies”.
Are Bookies Illegal?
No, it is a legitimate and respectable job that thousands of people do for a living. Some countries do require bookies to have a license to practice their trade. In such a case, a bookie would have to be have the proper licensing to be a legal bookie. In addition, some countries have laws against sports betting. If a bookmaker was to establish a business there, they would be operating illegally.
There was a time where sports betting was illegal in the U.S. Therefore, 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. They had bookmakers as people that would break legs to of bettors that could not pay their debts.
While this may have had some truth in the past, today, this is no longer an accurate description of a bookmaker This is because it is now legal to bet on sports 38 of 50 states.
Bookie Categories – Credit and Post Up Business Model
Bookies will fall into one of two 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
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.
Post-Up Bookie
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 method.
The Responsibilities of a Modern-Day 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:A player management systemSet player limits and accessCreate and Edit your playersEasily enable and disable player gambling optionsDaily, Weekly and Monthly Player figuresIntuitive and reliable reportsAnd much more | WHAT YOUR PLAYERS GET:Sports BettingLive BettingPlayer Prop Bet Builderhorse racingOnline CasinoLive Dealer CasinoTelephone and online Wagering |
In addition, the cost of opening a sportsbook with a pay Per Head Service is very cost-efficient. Or at least, it is with priceperplayer.com as we charge $7 or less per player!
