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Bookmakers

From Wikipedia, the free encyclopedia

A Bookmaker, or a bookie, is an organisation or a person that takes bets and may pay winnings depending upon results. Informally known as a bookie.

Most bookmakers bet on college and professional sports. The bookmaker will attempt to garner an equal amount of people to vote for each team so he will get money no matter what. A bookmaker can also make people place bets on how many points a team defeats another team by. If the minimum is not met, the better loses the money. A bookmaker can also try to buy bets from other bookmakers.

One of the most infamous bookmakers was Robert Angleton of Houston, Texas. Not only was he a bookie, but he also was a police informant about his smaller rivals. When they were shuttered, he took their business. His bookmaking scheme ended with the death of his wife, Doris Angleton.

See gambling, bet exchange.

(This guide is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.)