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Resources for Accountants

BOOKIE-Who are they and what they do?: Easy explanation. [Video]

BOOKIE-Who are they and what they do?: Easy explanation.

In this video, you’ll learn who a bookie is and what they do.

Chapters:
00:00 – Introduction
00:44 – Who is a bookie?
01:44 – How does a bookie work?
03:17 – Disclaimer

Who is a bookie?
If you’re looking to gamble, you’ll give your money and place your bet with a bookie.

A bookie could be an individual or even an organization that takes bets. Bookies can also be online or offline, depending on the nature of their business and how they take bets.

How does a bookie work?
A bookie introduces bettors to the betting markets, and a bookie will be the link between the bettor and the market.

People can place bets with the bookie, and the bookie will generally tell them about the odds. Then, once the game is over, people can claim their money from the bookie if their bet was right.

Bookies would take a cut from the bet amount, while some bookies design the odds so that they always earn money irrespective of who wins and who loses. This is how they earn.

(Explained in detail in the video)

Disclaimer
There will always be the risk of you losing your money in betting. So you should know what you are getting into and be prepared to face the consequences if things don’t go according to you.

This was about the introduction to bookies. We will upload a part 2 video on this topic soon. So make sure you have subscribed to the channel.

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