Bookmaker’s office and totalizator
Bookmaker’s office and totalizator, the principle of operation betting and bookmaker’s office. Many people do not understand the difference and have no idea what a betting company is. We will try to understand the terminology, the principles of work, and understand what a bookmaker is.
A bookmaker’s office is an establishment that accepts bets made by visitors on a certain result of events. Online bookmakers and betting clubs are widespread. What is a bookmaker’s club? It is the offline branches of betting companies. Many fans are gambling people who are willing to bet. Bookmaker’s offices give such an opportunity. In addition to sports, betting on political or cultural events.
An important condition for the operation of a bookmaker’s office – a license. To obtain it, the company must provide certain conditions, including paying taxes. In such an organization, customers must register and confirm their identity. It is possible to become a client only after reaching the age of 18 years.
What is a bookmaker? The concept has two definitions. In the broader it is called a bookmaker’s office, as well as a specific profession of an employee who accepts bets.
A totalizator is a type of betting, which is made on many events at once. Often – 15 matches, of which at least 12 must be guessed to win. An unlimited number of people can take part in them. Bets of the participants create a pot from which the winnings are paid out. Coefficients are not used in the toto. Organizers receive a percentage of all bets made. The winnings of the bettors depend on the total bank and the number of lucky players who guessed the correct outcome. The higher the total bank and fewer players tennis betting on the winning outcome, the larger the jackpot.
Who works at the BK
BK has a large staff of employees. The most important are the analysts. They estimate the probability of the event and set the odds. In cooperation with mathematicians, they calculate the margin figure so that the company makes a profit. Analysts and mathematicians are the backbone of betting shops.
An important and responsible job is a live line analyst. They have to follow the events online. Then there are traders who use software to determine the optimal odds for each event. Although most of the processes are automated, human participation is an integral part of the work of the BK.
Security keeps track of bets, and more importantly, winnings, foiling attempts to cheat. Forklifters, players with multiple accounts are the field of action of this service.
Types of bookmakers
According to the “professionalism” of the players, betting shops are divided into recreational and professional. The former attract players who satisfy gambling aspirations. For them, winning is a nice bonus, which will not make a significant contribution to the budget. Recreational betting shops have a large selection of bets, but low odds. Such betting companies are aimed at entertainment.
Professional betting shops are designed for players with serious intentions. They have low margin and high stakes. The choice of events is wide, but in some of them may be lower than the recreational ones.
Bitcoin bookmakers also operate, in which customers can use cryptocurrency. Cybersport bookmakers take bets on video game competitions.
How does a BK make money
There is a perception that BKs make money from players’ losses. Let’s take a look at the more unobvious ways to make money at the betting shops.
Do the betting shops always win?
A bookmaker’s office always stays in the black. If a client loses, his bet stays in the BK, while in case of winning the club keeps the margin. It is the difference between the actual odds of winning and the one set by the office, the bigger it is, the higher the profit of the bookmaker. As a result, the company presents a slightly undervalued odds, from which it receives income.