If the first thing that comes into your mind when you hear the word bookmaker, is an individual who makes, publishes, or bind books then you are not completely wrong. On the other hand, in gambling terms a Bookmaker can be a person or an organization that accepts bets of other people and is also responsible in paying off bets based on the outcome of a particular sporting event.
Bookmaking, though many may not be aware, is actually a popular betting event and there are hundreds of Bookmakers that operates in different countries around the world. Bookmaking, which is a gambling practice of trying to determine the odds of winning in sporting events has first gained popularity in horse racing. Over the years, many people get hooked with the idea of bookmaking and it gained popularity not only in horse racing but also practiced in other events such as political contests, baseball, basketball, boxing, and other competitions.
However, not all countries allow betting in sporting events and prohibits the practice of bookmaking. On the other hand, there some countries wherein bookmakers can legally operate. Just like in the United States and United Kingdom, the popularity of Bookmaking is undeniable and the proof of this are the several thousands of bookies who legally operate in these countries. Due to its popularity, many casinos around the world also offers bookmaking services to their clients which is sometimes referred to as the sports book.
If there is a big sports event let’s say for example the well-known Super-Bowl championship in the United States, it is highly likely that you will spot bookmakers in sports venues. Additionally, due to the advancement of technology, bookmakers are now not only limited to doing work in traditional sport venues but they also now operates online.