Top & Best Online Cricket Bookie
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Bookie / SportsBook – The World of Professional Betting
Bookies or Internet Bookmakers are moderators who not only supervise betting environment, betting odds and seamless declaration of winners and the losers but also resolve issues raised by punters / bettors with regards to pay outs and subscriptions / ID’s. An interesting facet of a bookie is that this individual is not an active participant. Yet another aspect which offers certain bookies the tag of “Professional” or “Trusted” is setting up fair odds, and covering a range of popular sporting events.
Times have changed. In the good old days, physical “Bookies” ruled the roost. Not anymore! Today, new online bookies operate digitally; in the form of “SportsBook” or solo entities.
So, how do the bookies make money?
The answer is really simple! In most of the cases these entities do not bet themselves but charge a small of “Administrative” fees. This is called “VIG” or “VIGORISH”. It simply means that this bookmaker charges a certain percentage of winnings or profit as commission. This is also called operator margin. Best bookie and betting websites follow this practice.
Professional bettors and even some of the rookie punters are well-informed about the setup and commissions involved which usually hovers around 4% to 6%. So, whether you are opting for a Cricket Bookie or a Casino Bookie the terms remain the same.
Here is an example -
So, how are bookies different from SportsBooks?
As mentioned above, top online bookies are organizers. They seldom get involved in betting transactions. Instead, these professionals oversee these betting events, relying on fees / margins to survive. On the other hand a SportsBook is a consortium of punters. Each punter is a wager and a bookie too. The idea is get rid of “Real” bookies and allow punters to bet between themselves. Interestingly, the commission charged by these SportsBooks and Exchanges is lower than actual “Bookies”. Best Betting Bookies are highly organized and competitive as they operate on the principle of low margin, high turnover.