Sports Betting Q&A
Frequently asked questions about sports betting
See All Questions

What is a bookie in sports betting?

A bookie is someone who facilitates gambling by setting odds, accepting and placing bets, and then paying out the winnings. It's short for the term bookmaker.

A bookie was a slang term more often used when online sports betting wasn't readily available. Bookies were more popular prior to the internet explosion because they could take bets in person or over the phone, often illegally. Nowadays, a bookmaker is usually part of a sportsbook or casino. 

Bookmakers don't bet themselves, as they make money from charging a vigorish, or a transaction fee. The biggest role for bookmakers is to set the odds, often using calculations from a variety of sources, in order to receive equal money on both sides of a bet. 

For example, if the bookie opens a spread at Patriots -10 against the Jets and 80% of the money is going to the Patriots, the bookie will likely push the number higher until there is closer to an equal amount of bets on both sides. 

While that may never be possible, it's best for the bookie to get equal money on each side because that leads to a higher probability of them winning money. If the money is balanced and there is 50% of bets on each side, the bookie earns the transaction fees and comes out positive. If the spread moved up to -14 in the above situation and 70% of people were still betting the Patriots and they won by 20 points, the bookie would lose money.

Bookmakers can work on their own, but they are often part of a casino. In places like Las Vegas where there are numerous sportsbooks in a small vicinity, bookmakers will often get odds from the same source or base their odds off another location. Now that betting is legal across the country following the repeal of PASPA in 2018, the difference in odds and lines will only grow across states.

Read More Sports Betting Q&As

More Questions To Read
What Is The Promo Code For FanDuel Sportsbook?
The FanDuel promo code link gets users a No Sweat First Bet worth up to $1,000. Get your bonus and sign up as a new player with the link on this page.
What Is The Promo Code For DraftKings Sportsbook?
The DraftKings promo code will grant users $150 with a winning bet of $5. Use the DraftKings promo code link on this page to redeem.
What's The Bonus Code For BetMGM? ROTOBONUS
The BetMGM bonus code is ROTOBONUS. It grants new customers a risk-free first bet, up to $1,000. Copy and paste the code upon registration to redeem.
When will sports betting be legal in Maryland?
Sports betting is live in Maryland, for both retail and online betting.
Is sports betting legal in Maryland?
Yes, sports betting is legal in Maryland. It launched on November 23, 2022.
How can I get free money on DraftKings?
You can get free money on DraftKings by signing up for a new DraftKings Sportsbook account. Use the DraftKings promo code link for $200 in free bets.
What is the DraftKings promo code for today?
The DraftKings promo code for today gives you a chance to win $200 in free bets. Place a $5 NFL moneyline bet, and if that bet wins, you win $200.
How to do parlays on DraftKings
To do parlays on DraftKings, you need to create a DraftKings Sportsbook account and put the bets you want in your DraftKings parlay into the bet slip.
How to bet on DraftKings
To bet on DraftKings, create a sports betting account, download the DraftKings Sportsbook mobile app, and find the betting outcome you want to bet on.
Where is DraftKings legal?
DraftKings is legal for sports betting via the DraftKings Sportsbook mobile app, website or retail location in close to 20 U.S. states and 44 for DFS.
How to bet on FanDuel
You can bet on FanDuel in many ways. Once you have an account, you are able to bet on props, futures, moneylines, spreads, totals, and much more.
Where is FanDuel Sportsbook legal?
FanDuel Sportsbook is legal in 16 states. These states are AZ, CO, CT, IA, IL, IN, KS, LA, MI, NJ, NY, PA, TN, VA, WV, and WY with more coming soon.
How to do parlays on FanDuel
To bet parlays on FanDuel, you must choose multiple bets within a game OR choose multiple betting markets from other games to create a parlay ticket.
How to bet moneyline on FanDuel
To bet moneylines on FanDuel, choose a game to wager on, and then select the moneyline market. Then, place your bet with your desired wager amount.
Does FanDuel pay real money?
Yes, FanDuel pays out real money. Whether you use the DFS portion of the website, sportsbook, or online casino, you will be paid out in real money.
How do I get BetMGM promo codes?
You can get the BetMGM bonus code by copying the code we have provided " ROTOBONUS " choosing your state, signing up for an account, making a...
Is BetMGM Sportsbook legal?
Yes. use code ROTOBONUS to sign up in eligible states. BetMGM Sportsbook is legal in AZ, CO, IL, IN, IA, KS, LA, MI, NV, NJ, NY, PA, TN, VA, WV, & WY.
What are some popular sports betting books?
BetMGM, DraftKings, FanDuel and PointsBet are some of the more popular sportsbooks where sports betting is legal.
What do + and - mean in sports betting?
The plus (+) and minus (-) in sports betting can refer to either the point spread or betting odds.
What is the March Madness BetMGM Bonus Code?
The March Madness BetMGM bonus code is ROTOBONUS and it was a very attractive "Bet $10, Win $200" offer for new customers. Anyone could sign up for...
What is the rollover on BetMGM Bonus Code?
The rollover requirement on the BetMGM bonus code is just 1x. You will be issued with BetMGM free bet credits if your first wager loses, and you...
Which sports betting site is best?
Caesars Sportsbook, BetMGM, DraftKings, FanDuel and PointsBet are some of the more popular online sportsbooks where betting is legal.
When does sports betting be legal in Illinois?
Sports betting is currently legal in Illinois.
What is the spread in sports betting?
The spread, also referred to as the line, is used to even the odds between two unevenly matched teams.
Is There An NFL BetMGM Bonus or Promo Code?
You can benefit from a range of NFL BetMGM bonus code offers such as "ROTOBONUS" throughout the pro football season. There are BetMGM sign-up codes...