When you hear the term, you don’t immediately think of modern betting offices that operate on the internet and offer you sports betting. But that’s exactly what a bookmaker is these days. Sometimes the abridged version “Bookie” is also used.
Once, he lived up to his name by keeping track of his customers’ bets, gambling odds and corresponding payouts, which is why the term is used. Today, he is still responsible for the documentation and also provides a lot of additional information for the users.
When is he allowed to offer sports bets?
Serious and safe ones always have a valid and active licence that allows them to legally offer sports betting.
Most licences for a betting operator come from Malta or Gibraltar, some from the United Kingdom and in some cases from Germany. Therefore, you should always find transparent and open information about the EU licence and the bookmaker’s regulations on the website
Revenues of a online bookmaker
It is also an entrepreneur or a company with the intention to make a profit. Of course, this does not mean that you are excluded from a good bookmaker, on the contrary: he only calculates the minimum profit in order to offer you the best possible odds and the highest possible payout key.
This payout key is a value usually between 90 and 99 percent. For example, good bookmakers return 95 to 97 percent of their earnings to the players, so a very high payout key will result in good odds for the players. If the payout key is lower, he can get more money for himself, but in the long run, sports betting fans are dissatisfied because of the worse odds. This also affects the success of the company.
How the online bookmaker business has changed
They have changed a lot in terms of variety. In the beginning only tips about victories or defeats were possible. More betting variants followed and in the meantime, some games and providers offer more than 60 opportunities to place a bet on just one event.
Live betting is also one of the modern developments that make the business flourish. This enables users to place bets in real time, make decisions even in the middle of a match and follow the action directly via livestream. Online bookmaker