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Definition of 'Bookie'

A bookie is a person or organization that accepts bets on sporting events and other events. Bookies make their money by taking a commission on the bets they accept. The commission is typically a percentage of the total amount bet, and it is usually paid by the bettor.

Bookies operate in a variety of ways. Some bookies operate online, while others operate through physical locations, such as sports bars or casinos. Bookies also vary in the types of bets they offer. Some bookies only offer bets on sporting events, while others offer bets on a wider range of events, such as political elections or reality television shows.

Bookies are often seen as a controversial figure. Some people believe that bookies are taking advantage of people who are addicted to gambling. Others believe that bookies provide a valuable service to people who enjoy betting on sporting events.

The legality of bookmaking varies from country to country. In some countries, bookmaking is legal, while in other countries, it is illegal. In the United States, bookmaking is illegal in most states, but it is legal in a few states, such as Nevada and Delaware.

Bookmaking is a complex and risky business. Bookies must be able to manage their risk carefully in order to be successful. They must also be able to attract and retain customers. Bookmakers who are successful can make a lot of money, but they can also lose a lot of money.

If you are thinking about becoming a bookie, it is important to do your research and understand the risks involved. Bookmaking can be a profitable business, but it is also a risky business.

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