Legal Definitions - bookie

Bookie

A bookie, also known as a bookmaker, is a person who sets the odds and takes bets on the outcome of events, particularly sports events.

For example, if you want to bet on a football game, you would give your money to the bookie and choose which team you think will win. The bookie will then set the odds and determine how much money you can win if your team wins. If your team wins, the bookie will pay you your winnings.

Another example is if you want to bet on a horse race. You would give your money to the bookie and choose which horse you think will win. The bookie will then set the odds and determine how much money you can win if your horse wins. If your horse wins, the bookie will pay you your winnings.

A bookie is someone who takes bets on the outcome of events and sets the odds. They make money by taking a percentage of the bets placed, which is called the "vig" or "juice". The examples illustrate how a bookie operates in different types of events, such as sports and horse racing. The bookie sets the odds based on their knowledge and expertise, and they take on the risk of paying out winnings if the bettor wins.