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BOOKMAKERS: THE ORIGINS OF THE (ONLINE) BOOKMAKER AND HOW A BOOKMAKER WORKS



Anyone who has decided to place a bet on a sporting event may come into contact with a bookmaker. A bookmaker is a person who organizes a bet, often doing so on behalf of an organization but sometimes operating independently. Bookmakers were initially active in equestrian sports and later bookmakers started working in other sports and other events. Such as soccer.



Registration of bets



So bookmakers are also active in major events, such as the Brexit, for example. The bookmaker registers who participates in a bet and what the stake of this person is. The bookmaker also determines the odds and the amount of money paid out in case of a win. The word "bookmaker" comes from the English language and is based on noting the bets in a notebook ("book"). Bookmakers proceed in such a way that they can be left with a nice profit on a bet.



Equalization



In the case of a soccer match, a bookmaker sweepstakes business will try to secure a profit in each game by getting the same number of bets on both teams. For example, if 10 participants bet on a victory for team X, 10 participants bet on a draw for team X and 10 participants bet on a loss for team X, there are 30 participants. This gives the bookmaker the certainty that 20 participants have guessed wrong. An equal distribution over the possible outcomes is therefore very important if the bookmaker wants to make a profit.



Software



Nowadays many bookmakers operate online and work with software that can generate the largest possible profit for them. Such software can ensure that quotes are automatically adjusted if the participants' bets are not as expected. The adjustment is made by an algorithm. Although the calculation of the correct adjustment may be complicated, the principle is not very complicated at all. In fact, it is very clear that with the use of a proper method, the bookmaker can always count on a profit.



Listings



If team A is significantly stronger than team B then the odds at the beginning of the bet are 1.50 for team A and for team B there is a odds of 3.00. If a total amount of €1000 is wagered on team A and a total amount of €500 is wagered on team B, the profit amount paid in both cases is €1500. In the case of a draw, the entire profit goes to the bookmaker. However, the probability of team A winning is very high, so with that there is also a high probability that many participants will bet their money on team A.



Adjustments in quotations



When too many participants bet on team A, the software adjusts the quotes: the quote of team A is reduced, while the quote of team B is increased. That way, more participants will be enticed to bet on team B. By means of the software, the bet is thus controlled and in this way the bookmaker can practically always count on a certain profit. So as a participant you are more or less playing against the other participants and not against the bookmaker.



Bonuses



Many (online) bookmakers regularly offer bonuses to keep gambling attractive for participants. For example, at some bookmakers you receive a welcome bonus as a newcomer. If you deposit a new amount on top of your first deposit, you sometimes get a bonus of 10% of the newly deposited amount. So if you deposit a large amount on top of your first deposit, you can receive a considerable amount. In this way you are encouraged to bet regularly or bet a large amount. With some bookmakers, on the other hand, you get a large(er) bonus if you have already played regularly, as a kind of reward for your participation.



License



Today, bookmakers operate largely on their own, so bookmakers will benefit quite a bit from the new gambling law that will be in effect as of 2017. Bookmakers can therefore get a license for the Dutch market from 2017. From 2017, bookmakers will be allowed to use a .nl domain for their websites, and especially for Dutch bookmakers with a large (potential) reach, this is an advantageous development. Also, from 2017 it will be possible for bookmakers to become active as shirt sponsors of (professional) clubs. In this way, the consumer reach of bookmakers is increased. Thanks to legalization, the Dutch government will also benefit from the tax revenue generated by bookmakers.


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https://www.stwstb.org/profile/yoa1kin94orothy/profile

https://www.richardgerver.com/profile/yoa1kin94orothy/profile

https://www.goodbites-and-glasspints.com/profile/yoa1kin94orothy/profile

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