A bookmaker is also called a Bookie. It sets odds and goes ahead to facilitate gambling by placing odds for customers. The payouts are made to the winners. Typically, bookmakers or bookies promote easy gambling activities at sports events.
A bookmaker/bookie is an entity responsible for setting odds and taking bets on various sporting outcomes. These sporting events may include horse racing, soccer, football, rugby, tennis, basketball, cricket, athletics, and hockey, to say the least.
In essence, bookmakers guarantee payouts to punters. The bookmaker strives to ‘balance the book’ by adjusting specific odds on various markets associated with a sporting event. Bookies, therefore, ensure an even amount for people placing the bets is maintained.
What to know about bookmakers is that: Without a bookmaker, punters wouldn’t have a platform to place their sports bets. You can bet on the premier league , Bundesliga and Serie A because bookmakers are present to accept the bets. A bookmaker or bookie, can be a person or organization.
Although some bookmakers allow bets on non-sporting events like politics, sports events form the basis of bookmakers’ business and specialization. As mentioned earlier, bookmakers uncover an evenly-balanced market for betting. This means that the betting market provided by bookmakers is attractive on all sides. Every outcome is linked to an odd.
However, the sports bookmakers will always opt to include a margin. This particular margin becomes their profit regardless of a win or loss. Upon laying a bet to a customer, the bookmaker takes money and sends you winnings if the result favors you.
Basically, sports bookmakers have no control over sports events. In fact, they are clueless about the result when Aston Villa plays against Arsenal or any other team in the world of football. However, the idea behind bookmaking is to take in more money than the payouts. This is the ultimate art of bookmaking to ensure profits.
Today, sports bookmakers operate from betting sites. Thus, there are hundreds of bookmakers online. Notably, with the expansion of sports betting in recent years, becoming a bookmaker is a legitimate affair.
Scroll to find a list of legally existing bookmakers.
Bookmakers in football
Bookmakers in football apply their knowledge in sports. With the unpredictability of sporting events, determining the outcome of a particular football event is grounded on sports knowledge. This means that the compilers in football bookmakers must portray extensive knowledge about the sport. In most cases, compilers will only specialize in 1-2 sports—the same calls for a solid understanding of mathematical and statistical principles.
Football is the most celebrated sport in the world. People are always talking about football, results, fixtures, and team form from one home, office, and city to another. At the bookmaking firm, there are odd compilers. The work of an ‘odd compiler’ is to set and balance the odds for various sports.
Another name for odd compilers is sports traders. Their work of setting odds goes a long way in determining what the bookmaker will take in – Wagers. Even better, the bookmaker can evaluate potential benefits. This whole process of setting odds is referred to as pricing the market.
Free bets from bookmakers
What are free bets? Bookmakers’ free bets come in the form of bonuses. In their bid to win the masses, bookmakers come up with incentives for customers and sign-ups. Mostly, free bets are offered to new customers who register for the first time.
The type and benefit attached to a free bet depend on a bookie to another. Many bookmakers issue free bets as credit and not actual cash. It’s after winning with the credit that you can withdraw real money. However, bookmakers ask for an initial deposit to unlock the free bet or withdrawal of real cash.
Bookmakers’ free bets form a unique way of minting money. This is free money. Nevertheless, you must be clever enough to beat the bookies. Your motive should be taking advantage of the free bet, winning the bet and finally withdrawing your real cash. See a list of safe bets to consider for free bets.
Forms of free bets include;
- Enhanced odds
- Sign up deposit bonus
- No deposit free bets
- Loyalty free bets
- Acca insurance
- Money-back specials
Every country has bookmakers offering free bets; the UK, Canada, the U.S.A, SouthAfrica, Kenya, Australia, Ireland, Germany, and Spain, to mention a few.
Today, almost every bookie has an app. With the increased use of mobile to access the internet, well-established bookmakers have apps that can be operated via android or iOS gadgets. These bookmaker apps are more of sports betting apps.
A bookmaker app enables easier access to sports betting markets. As a punter, you can bet, deposit, withdraw and check progress on bets placed from the palm of your hand. Bookmaker apps have excellent navigation, user interface, and experience.
The UK is among the nations with the highest number of bookmakers. The United Kingdom has over 8,300 betting shops linked to varied sports bookmakers. Based on a variety of market and performance metrics, the following are top bookmakers in the UK:
- Boyle sports
Depending on your location or country, you can choose any bookmaker. However, there is no much difference between the odds offered by each bookmaker.