Bookmakers

Bookmaker, often referred as  bookie, or turf accountant is a person or an organization that takes bets on sporting and other events at agreed-upon odds. Bookmakers in the United Kingdom focus betting on professional sports, especially horse racing and association football however, a wider range of bets, including on political elections, awards ceremonies such as The Oscars, and novelty bets can also be placed.

People will pay a bookmaker and give them their predictions of a certain event happening and in return if the player predicts the event correctly the bookmaker will pay the player. The aim of bookmakers is to balance their books with multiple players to ensure whatever happens they make a profit. They do this by having what they call a margin, this means they will offer slightly less odds on an event than the likelihood of it happening.

So how Book Maker works

To understanding how bookmakers work is understanding where to place a bet. Bookmakers make a profit by pricing their betting markets so that the odds offered do not represent the statistical probability of the event.

For example, betting on a coin toss statistically represents a 50/50 chance on either outcome – heads or tails. You bet £10 to win £10, making this a 100% market. Bookmakers create markets that go above 100% to create an edge, which is where the bookmaker makes its money.

For the coin toss, bookmakers would offer heads or tails at odds below 2.0, meaning you would have to bet more to win £10. If the odds were offered at 1.91, you would have to bet £11 to make £10, and the market percent is 104.7%. Therefore the bookmaker’s margin is 4.7%.

How to play with a Book Maker

Just select the reputed online site like Betway or Ladbrokes that offer Book Makers like sports betting. Then register yourself at the casino, deposit your bet and there you go. Select your game click on Bet Now. You will be lead to number of games to bet like English (Premier League, Championship, League One, League Two, FA Cup, EFL Cup, EFL Trophy); Scotland (Ladbrokes Premiership, Championship, League One, League Two, Scottish FA Cup, Scottish League Cup, selected Challenge Cup); Champions League; Europa League; and many others of such kind.

What happens when you place your bet with a Bookmaker

Whenever you place a bet with a bookmaker you enter into a contract with them; most bookmakers will not allow you to place a bet without first seeing the money. When you place a bet, the stake you enter is deducted from your account and this money is locked into a bet in a legally binding contract. As with all legally binding contracts, it is very hard to get out of this, if you decide you no longer like the bet or wish to cancel it the bookmaker can just refuse. If multiple qualifying bets are settled on the same day, only the earliest bet placed will be refunded.

Is your money and your privacy safe with Book Maker

Whenever you place a bet the money you use has to go into a trust account, this is a legal requirement that all bookmakers have to enter into. The law says they have to hold a trust fund in a separate account which holds the total of all deposits and bets. This means that bookmakers are all secure and your money is as safe as it is in the bank.

As can be expected bookmakers also have very strict rules around protecting your personal details. There is strict legislation meaning that bookmakers are not allowed to share your personal details.

Can you contact the book maker

Yes you can. All bookmakers are available to contact across multiple platforms. All bookmakers have emails which you can contact, as well as phone line services. Some bookmakers also have a live chat channel which people can log onto and speak to a live representative. As well as all these most bookmakers are socially active, and they have Twitter and Facebook accounts as well as many others and they can sometimes be contacted through these.

Now enjoy below some of the best online Book Makers and see for yourself the amazing fun as well as the suspense of winning something great.