Bookmaking: meaning, definitions and examples
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bookmaking
[ ˈbʊkˌmeɪkɪŋ ]
gambling, sports
Bookmaking is the act of accepting and paying off bets on sporting events or other activities. It involves setting odds, managing risks, and providing a marketplace for bettors. Bookmakers often set the lines for a sporting event, determining how much a bettor can win based on the likelihood of the outcome. The process has roots in ancient civilizations and has evolved into a regulated industry in many countries.
Synonyms
betting, bookie, gambling, wagering.
Examples of usage
- He makes a living through bookmaking.
- The practice of bookmaking is highly regulated in many states.
- She opened a bookmaking operation for the football season.
Translations
Translations of the word "bookmaking" in other languages:
🇵🇹 apostas
🇮🇳 सट्टेबाज़ी
🇩🇪 Wettbüro
🇮🇩 perjudian
🇺🇦 букмекерство
🇵🇱 bukmacherstwo
🇯🇵 ブックメーカー
🇫🇷 paris
🇪🇸 apuestas
🇹🇷 bahis
🇰🇷 북메이킹
🇸🇦 مراهنات
🇨🇿 sázky
🇸🇰 stávkovanie
🇨🇳 博彩
🇸🇮 stavništvo
🇮🇸 veðmál
🇰🇿 ставка
🇬🇪 გადახდა
🇦🇿 bahis
🇲🇽 apuestas
Etymology
The term 'bookmaking' originates from the practice of keeping records of bets in a 'book'. This practice dates back to the early modern period when individuals began to formalize betting on various events, particularly in the realm of sports. Initially, it referred to the literal books where bets were recorded, hence the name. As betting became more popular and spread across Europe, especially with horse racing, the term solidified into its current usage. In the 19th century, bookmaking expanded significantly, leading to the establishment of formal institutions and regulatory oversight in various countries. Today, it encompasses a wide range of betting activities including not only sports but also political events and entertainment.