by Staff Writer
What do people mean by bookmaking basics? Good question. When I was looking online for information, I kept getting sites that tried to teach me how to make a book – binding and all. So, I had to figure some things out myself.
Click Here For Our Recommended Resource for Online Wagering!Oftentimes, people feel that the bookmakers are the bad guys if a bet results in a loss or the good guys if a win results. In reality, bookmakers are the in-between guy (or girl). The bookmakers are the communication line between the oddsmakers and the bettors. Basically, the bookmakers make their money via a profit when people end up betting on teams.
Bookmakers stand to make money if they can get people to bet evenly. That is, for every bet placed on one team, there is another bet placed on the opposing team. That’s the ideal, anyway. You’ll notice that a point spread may change the closer the fight/game/tournament/etc. gets. The reason for this is that if the bookmaker sees too many people betting on one side, he changes the spread to get people to bet the other side.
Yes, Virginia, You Do Have To Give Some Information
Even more basic basics involve how to place the bets themselves. You’ll often have to register on a site by offering your personal information. Once you want to place a bet, you’ll have to deposit money into your account – usually with a credit card. When you’ve decided what to bet and where, the bookmakers will transfer funds if you win or lose. Good bookmakers will have your winnings in your account not too long after the match or game has ended.