Bookie
sports bettingA person or organization that accepts and pays off bets on sporting events and other outcomes.
Key Takeaways
- 1A bookie accepts and pays off bets
- 2They profit through the vigorish (vig)
- 3Legal sportsbooks are regulated and licensed
- 4Always use licensed operators for fund protection
What is a Bookie?
A bookie (short for bookmaker) is a person or organization that accepts bets, sets odds, and pays out winnings. In the legal sports betting industry, the modern equivalent is a sportsbook — a licensed company that operates under state regulations.
How Bookmakers Make Money
Bookmakers don't gamble. They profit through the vigorish (vig or juice) — the commission built into every bet. By setting odds that create a margin, they ensure a profit regardless of the outcome.
Example
A standard -110/-110 line on a coin-flip event means:
- You risk $110 to win $100 on either side
- The bookie collects $220 total and pays out $210 to the winner
- The $10 difference is the vig — a 4.55% margin
Legal vs. Illegal Bookmakers
Since the Supreme Court struck down PASPA in 2018, legal sportsbooks have expanded across the US. Always use licensed, regulated sportsbooks to ensure your funds are protected and payouts are guaranteed.