What Does a Bookmaker Do?

The very traditional people would hear the word “bookmaker” and you know that they will think of a certain stereotype. While the increasing legalization of sports betting is slowly removing that stereotype, many are still wondering, what does a bookmaker do? You will read about them in pay per head industry news, so we will talk about it here today.

Basically, when you learn how to be a bookmaker, you are learning how to run a sportsbook. The industry nickname is a bookie, and bookmaker is a bit of a formal name for it. They hold the same meaning, though. As a bookmaker, you offer odds on outcomes of sports events, which people will bet on.

What Does a Bookmaker Do?

A bookmaker’s primary job is to take in bets of their players on specific outcomes in a sports event. To do this, you need to offer lines, or odds, that people will bet on. You take the money that they wager, and either keep it if they lose, or add a prize and return it to them if they win their bet. This is what the betting public generally sees, but this is not the entirety of a bookmaker’s job.

A large bulk of a bookmaker’s work is managing the lines, or the odds. The goal is get a balanced set of wagers on each side of a line. You have the tools to manage this with your sportsbook pay per head software. If there are too many bets on team A, then you will lose money paying out bets if Team A wins. So, you want bets on Team A to more or less be equal to team B, so you can easily pay the winnings from the losing bets. Your profit as a bookmaker will come from the vig, or a set fee each wager. In addition, any excess payouts get to be your profit as well.

Get the Best Sports Betting Software for Bookmakers Here!