What Is a Bookie?
A “bookie” is simply a slang term for “bookmaker.”
In sports betting, the bookie is the person or organization (like a company, casino, or website) that sets the odds, accepts your bets, and pays out the winnings. They are the essential middleman in the entire transaction.
What Does the Bookie Actually Do?
Whether you’re betting at a physical sportsbook in Vegas, or on an app like FanDuel or DraftKings, the entity on the other side of your bet is the bookmaker. Their primary duties are:
- Setting the Odds (The Line): They analyze the games and calculate the probability of each outcome to create the opening point spreads, moneylines, and totals.
- Balancing the Books: Their main job is to try and get an equal amount of money bet on both sides of a game. They do this by constantly adjusting the odds to attract bets to the less popular side.
- Managing Risk: If too much money comes in on one side (high “exposure“), they adjust the line or even make a “layoff” bet with another bookie to protect themselves from a massive loss.
- Paying the Vig: They make their money by charging a transaction fee on every bet, called the “Vig“ or “Juice.” They don’t make money by correctly predicting the game; they make money by collecting this small fee from every losing bet.
Legal vs. Illegal: The term “bookie” traditionally referred to an individual who operated a private, often illegal betting enterprise. Since the US legalized sports betting in many states in 2018, major companies and casinos are now legal “bookmakers” operating under the banner of a Sportsbook.
Best Online ‘Bookies’
