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    #1

    bookmaker, bookie

    A bookmaker, bookie, or turf accountant is an organization that, or a person who, takes bets on sporting and other events at agreed-upon odds.


    Hi,
    I ran across the above on the Internet. I wonder why he's called a bookmaker. Is it because he actually makes a book of sweep tickets to sellon sporting events? Thanks,
    Last edited by LewisJian; 24-Jun-2016 at 15:12.

  1. Tarheel's Avatar
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    #2

    Re: bookmaker, bookie

    A bookmaker keeps a list of bets, odds, and events in a booklet, or notebook.

  2. Tarheel's Avatar
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    #3

    Re: bookmaker, bookie

    The bookmaker takes bets on things. He doesn't sell tickets.

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    #4

    Re: bookmaker, bookie

    Quote Originally Posted by LewisJian View Post
    I wonder why he's called a bookmaker.
    They do record, or did in the past, details in a book, but the process is similar to bookkeeping- they try to adjust the odds to spread the risk, so that winning bets are paid out of losing bets, leaving some profit for themselves. The mathematics is fairly complex:

    https://en.wikipedia.org/wiki/Mathematics_of_bookmaking

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