Bookmark Website  | Free Registration  | The Team
The Lounge  | Champions  | The Wire |  Schedule |  Audio  |  Arcade  |  The Top Ten  |  Historical  |  Email  |  Video

Bookmaking Basics


The role of a 'bookie', the common name of the person involved in bookmaking, is quite important in the world of gambling. The bookie is responsible for keeping track of all the bets in the game.

The bookie can take bets on any professional events - election, races, college sports. Bookmaking has been prohibited been prohibited in the past. Even now it is illegal in certain states. Its legal status being in controversy, the job is considered a shady one.

In Europe, licenses were required in the past by those who wished to bet or involve themselves in bookmaking. Now, the event is illegal and betting on the election results is quite popular in Europe. Almost all sports event attract wagers in the State, especially soccer.

In USA, bookmaking is illegal in almost all the states. The only exception is the gambling hub, Nevada. However, illegal betting exists, giving the bookmakers a profitable business. The common betting events include sports. Bookmaking in Canada is state owned and operated. Bookmaking is a part of country's lottery program- sport select.

Sports remain the evergreen area for betting and bookmaking. The bettors are usually young or middle aged people. Sports being an year round activity which is mostly unpredictable attracts a lot of bookmakers who are keen on making quick money.

A less likely, but extremely popular betting event is elections. Political election being a nation wide phenomenon attracts a lot of bets. Even papal elections have not been spared by this game of luck. As the authority of the office involved in the election increases, the number and the amount of wagers also show an increase.

Horseracing is one of the most popular wagering event. The fact that makes this event so popular among the bettors is its randomness. Even the most consistent of the winners stands a chance to loose the race. Other races like grey hound races also attract wagers.These are a few conventional areas popular for betting. But bookmaking can be involved in almost any event that lacks certainty. For example, bets can also be placed on whether it will snow on the Christmas day!

The bookie stands to profit by balancing the book i.e. making sure that he has equal number of bets for all eventualities, so that he does not run out of money. A threat to the bookmaker's business is betting exchanges. These are one to one bets where the persons choose to forgo the bookie while making bets. Few betting exchanges sites have also cropped up, which enable this affair while charging a commission out of the bet.

Betting, like any other job, is not devoid of corruption. Some bookmakers can invite bets and later siphon away the entire money. This is usually the case when one involves in illegal betting. The principle of caveat emptor is forcefully applicable here.

Bookmaking is a competitive industry, with everyone willing to make fast money. However, it does involve a certain amount of skill to balance the book and earn the maximum profit out of the entire event. In countries where bookmaking is banned, people resort to online bets which are equally simple and profitable. For those who involve in illegal betting, it is advisable not to indulge in it as a small mistake can land one in deep soup.

Mansi aggarwal writes about bookmaking topics.


MORE RESOURCES:

Ex-Meadowlands Sports Complex chief urges swift action on North Jersey ...
NorthJersey.com
Jim Kirkos, president of the Meadowlands Regional Chamber of Commerce, said that while he and other local officials support North Jersey casino gambling, “a casino is subordinate to a convention center.” A number of speakers agreed that the sports ...

and more »


The Republican - masslive.com

Massachusetts gubernatorial candidates spar on casino gambling, education ...
The Republican - masslive.com
SPRINGFIELD — The five candidates for governor debated topics from global warming to casino gambling in their first televised post-primary debate, held at CityStage in Springfield. Democrat Martha Coakley, Republican Charlie Baker and independents ...

and more »


National Catholic Register

Mass. Bishops: Casino Gambling Is a Bad Bet
National Catholic Register
BOSTON — Led by Cardinal Sean O'Malley of Boston, the Catholic bishops in Massachusetts are urging voters to support a ballot measure this November that would repeal a 2011 law that legalized casino gambling in the Bay State. As of now, not a single ...

and more »


Accountant accused of theft to fund casino gambling
Chesterton Tribune
A Munster accountant has been indicted in federal court on a charge of bank fraud in connection with the theft of more than half a million dollars from a physician, the U.S. Attorney's Office for the Northern District of Indiana said. Jack Weichman, 62 ...



The Weekly Standard

Georgia needs casino gambling for education
Marietta Daily Journal
Democrats say they need to vote on Sunday; Republicans say it isn't right. It is true some will bus their votes to the polls. I don't think it matters when we vote. It is how we vote. We have been told by our lawmakers that we are not educated enough ...
House of CardsThe Weekly Standard

all 3 news articles »


New Hampshire Magazine

The real impact of casino gambling in NH
New Hampshire Magazine
As someone who spends nearly every hour of every day thinking, talking, writing about politics, you can take it from me: your vote this fall will not repeal Obamacare or keep it, it will not lower your taxes or increase them on the rich, it won't stop ...



Al Jazeera America

The winners and losers of casino gambling
Al Jazeera America
Today 39 states host casino gambling of some kind, in addition to an explosion of Internet sites. Because of this new competition, betting meccas across the nation are increasingly feeling the heat. New Jersey's gambling revenue, for example, fell by ...
Up Close: Casino GamblingWABC-TV
As Casino Gambling Busts, Atlantic City Firms Play OnMondaq News Alerts (registration)
Trump Plaza shuts downToledo Blade
MetroJacksonville.com -NJ.com -NJ TODAY
all 463 news articles »


Ohio casino gambling: Has it met your expectations?
The Plain Dealer - cleveland.com
Slots on the second floor of Horseshoe Cleveland Casino, which celebrated its second anniversary on May 14. (Lynn Ischay/The Plain Dealer) (Lynn Ischay, The Plain Dealer). Print · Amanda Harnocz, Northeast Ohio Media Group By Amanda Harnocz ...
Editorials from around OhioWTRF

all 16 news articles »


School executives association neutral on casino gambling; opposes open ...
Chalkbeat Colorado
The Colorado Association of School Executives, the advocacy group that represents school administrators statewide, has decided to take a neutral position on Amendment 68, the November ballot measure that would allow expansion of casino gambling and ...



abc40

Massachusetts bishops issue statement for repeal of casino gambling law
Attleboro Sun Chronicle
Cardinal Sean O'Malley, walks to the front entrance of St. Martha Church in Plainville during a visit last October. Posted: Monday, September 15, 2014 10:30 pm | Updated: 10:23 am, Tue Sep 16, 2014. Massachusetts bishops issue statement for repeal of ...
Casinos spending big to fight ballot questionWicked Local Hopkinton
Catholic bishops supporting repeal of casino lawwwlp.com

all 48 news articles »

Google News


Advertisement



Section Site Map - Submit News - Feedback - Comments - Advertise with Us

Copyright 2006 Luminati Inc. All rights reserved.