[featured-img] There is a lot of misinformation about sportsbook bonuses on the Internet. In this guide we’re going to analyze the pros and cons of sports betting bonuses. The first step is to define the types of bonuses available to bettors. Bookies offer bonuses in several variations. Cash Bonuses A cash bonus holds the most
How do I Become a Bookie?
[featured-img] Betting on sports continues to grow in popularity each and every year and while there is no shortage of outlets booking bets in this billion dollar industry, there is still plenty of opportunity to start and run a very successful business as an independent bookmaker. One of the most important aspects of becoming a
How Does a Bookmaker Make Money?
[featured-img] The basic mechanics of booking a sports bet involves money being wagered on one outcome or the other when it comes to a particular matchup or event. There can only be one of three possible outcomes; the person making the bet wins their wager, loses their wager or the matchup/event ends as a tie
How to Bet on Sports
[featured-img] The basic premise behind betting on sports is choosing one side or the other in any particular event. If you are right you win money and if you are wrong you lose money. While that sounds simple enough, the high level of sophistication in today’s sports betting industry has made the whole process far
What exactly is a ‘bookie’?
Quite simple: The word 'bookie' is a slang for bookmaker, in the world of gambling, especially when it pertains to sports wagering. A bookie provides odds to clients and accepts bets on sporting and other events. He or she then is in charge of collecting the losing wagers and paying out winning ones that he accepts on the said events. Bookmaking and placing bets through a bookmaker is generally illegal in the United States if not done through a licensed company. Sports wagering through a licensed bookmaker is only legal inside the state of Nevada, and through one of the corporations. The legality of other different types of gambling is determined by state governments, and could very well be changing within the next few years. New Jersey is one state that is taking its case to the Supreme Court to try and get straight bets to be legalized within its state boundaries. In principle, bookies make their money by charging a fee on their customers' bets known as a "vigorish," (also known as "the vig" or "the juice"). Generally speaking, in football and other sports where a pointspread is attached, that "vig" is 11-to-10. This means that the player has to risk $110 to win $100 (for example). If the player wins, he collects $100; if he loses, he pays the bookie $110. Bookmakers do not usually make their money by placing bets themselves. There are two types of bookmaking operations on the street: credit and post-up. Credit action is when the bookie provides the player a line of credit, and the player settles weekly regardless of how much he wins or loses. Sometimes the credit bookie will agree upon a figure that the client pays or collects with him and there is no weekly settle-up; only when the figure gets to the number both parties agreed to. Post-up is where the player send funds offshore to an online sportsbook, and that amount is what the player starts with in their bank roll. The positive thing for post-up players is that they cannot get in over their heads and lose more than what has been posted up.