A bookmaker sets the odds on the possible outcomes of an event, accepts bets across those outcomes and builds a profit margin into its prices. That margin, known as the overround, means the bookmaker can make money across a market, regardless of the result.
We’ve taken a look at how betting sites operate behind the odds, from pricing risk to managing liabilities, for anyone who wants to understand how bookmakers work before placing a bet.
What is a bookie
A bookie, or bookmaker, is a company or individual that accepts bets on events and pays winnings according to the betting odds agreed…
To provide well-rounded coverage and a breadth of insight across various events, we rely on contributions from several staff writers, each bringing their own area of expertise to our publication.
