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Bookies or Internet Bookmakers are moderators who not only supervise betting environment, betting odds and seamless declaration of winners and the losers but also resolve issues raised by punters / bettors with regards to pay outs and subscriptions / ID’s. An interesting facet of a bookie is that this individual is not an active participant. Yet another aspect which offers certain bookies the tag of "Professional" or "Trusted" is setting up fair odds, and covering a range of popular sporting events.
Times have changed. In the good old days, physical "Bookies" ruled the roost. Not anymore! Today, new online bookies operate digitally; in the form of "SportsBook" or solo entities.
The answer is really simple! In most of the cases these entities do not bet themselves but charge a small of "Administrative" fees. This is called "VIG" or "VIGORISH". It simply means that this bookmaker charges a certain percentage of winnings or profit as commission. This is also called operator margin. Best bookie and betting websites follow this practice.
Professional bettors and even some of the rookie punters are well-informed about the setup and commissions involved which usually hovers around 4% to 6%. So, whether you are opting for a Cricket Bookie or a Casino Bookie the terms remain the same.
Imagine a sport where the coin is flipped in the air. Now punters are asked to bet on two default options—heads or tails. However, the probability of winning on each of the bets is equal or 50%. In such a scenario, the odds will typically be set below 2.0, most probably around 1.92. Punters will have to compromise around 4%. This is called bookmakers margin. Check out the list of online bookmakers to ascertain this percentage.
As mentioned above, top online bookies are organizers. They seldom get involved in betting transactions. Instead, these professionals oversee these betting events, relying on fees / margins to survive. On the other hand a SportsBook is a consortium of punters. Each punter is a wager and a bookie too. The idea is get rid of "Real" bookies and allow punters to bet between themselves. Interestingly, the commission charged by these SportsBooks and Exchanges is lower than actual "Bookies". Best Betting Bookies are highly organized and competitive as they operate on the principle of low margin, high turnover.
Yes, of course. A bookie can be a digital / professional entity, someone very similar to SportsBook. However, its operation will most likely follow the betting principles of a standalone bookie in terms of odds, fees and communication methods. The term “sports bookie online” is quite ambiguous and punters should examine / check the concerned entity’s affiliation / background.
Bookies / SportsBook are an integral part of betting domain. Your choice will depend on the best odds and pay outs. Another aspect which makes bookies a popular option is the provision of dedicated communication system, in the form of a professional telephone number which is also doubles up as a “Whatsapp” Chat Application. For bettors who love casino games should seek online casino bookie instead of general bookmaker.
