What is a Bookie?

What is a bookie? This very basic question lays the foundation of what you will be doing in the sports betting or gambling industry. A bookie, in its simplest meaning, is a bookmaker, or someone who runs a sportsbook. Most movies are misleading, since they show a mafia-like approach to gambling. Some, show the flashy lifestyle of the bookie, with girls, glamor, and sports cars.

The thing is, being a bookie can be defined by anything. You could be a goon, or a guy with a sports car. You could be someone who wears a tie during the day, and manages a sportsbook at home after hours. Or, you could be a housewife, running your sportsbook from home. Anyone can be a bookie. The only thing you need to be, is to be good at being one. This is where our bookie tutorials will come in.

Bookie Basics

As a bookie, your job is to take bets, or wagers, from people. To do that, you will need to create odds, or a line, that people can bet on. Your ability to earn money as a bookie will rely mostly on your ability to set lines. There is a careful balance where you need to offer people great odds, and still make money off of it.

These odds, or lines, will be monitored until the sporting event starts. Why? Because any changes that can happen between the moment you posted your odds to the game itself, can affect the odds. As a bookie, you need to capitalize on this, and make sure it will be an enjoyable wagering experience for your players as well. Most bookmakers use a bookie pay per head service to help them.

Your goal, as a bookie, is to make sure that bets from both sides of the line will balance out in such a way that you can still earn a profit after paying out your winners. Lastly, your goal, is to make sure that the losing wagers can pay off the winning bets. This will be the first thing you need to know.