There are countless ways to make extra money these days. But very few options revolve around professional sports.
Most people dream of getting paid to watch and talk about their favorite sports. But for most, it’s a pipe dream.
Want to make it a reality? Then consider becoming a sports bookie. What is a sports bookie?
A bookie is a person who facilitates bets. Or on most occasions, it’s an online betting platform that facilitates bets.
If someone is confident that Team A is going to win, but three other people are confident that Team B is going to win, you take all of their money and dish out winnings accordingly.
And of course, you keep a cut, regardless of the outcome. Sure, working as a bookie is more complicated than that. To see if it’s right for you, read our sports bookie guide below.
The Rise of Sports Betting
Legal sports betting is still a new phenomenon, and it’s catching on at an alarming rate. What was once illegal in all of the countries (save for Las Vegas), was finally given a second chance in 2018.
Thanks to efforts from the state of New Jersey, the Supreme Court overruled a law outlawing sports betting across the country. This decision turned jurisdiction of sports gambling to the state.
Today, there are a handful of states that allow sports betting, both in-person and online. A bunch more states are currently in the process of legalizing sports betting.
And user-growth, among the states where it’s currently allowed, is seeing month and month growth.
Sports betting is made possible by the service of sportsbooks, or bookies. Keep reading to have the definition of sports bookie explained to you.
What Is a Sports Bookie?
So what is a bookie when it comes to sports betting? It’s the person or entity facilitating bets. Their main goal is to keep the betting books balanced, to ensure the winners are paid out with the money from the losers.
For example, if people want to bet on a match between the Buccaneers and the Panthers, people need to bet on both teams.
If the Buccaneers are clearly favored to win, most people will put their money on that team. But who’s going to pay them, if, in fact, they do win?
A bookie needs to ensure that there are people betting on both teams, including the Panthers. So they adjust the odds, and the level of payout, in order to attract people to bet on the underdog.
To make money as a bookie, you have to keep your books balanced in this way. Winners need to be paid out. When they receive their money, they’ll be sure to continue betting with you, helping you solidify consistent income.
Become a Sports Bookie the Easy Way
So what is a sports bookie? It’s the person facilitating bets. You create the odds, the payouts, collect money from players, and payout the winnings.
In the past, bookies did this manually. But today, bookie software automates this process for those looking to get into the action themselves.
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