Who is a bookmaker and the essence of betting shops

Bookmakers and totalizators: definition, working principle, similarities and differences

For several thousand years people have been attracted by excitement, danger and betting. The prototypes of modern totalizators existed already in antiquity, when people were betting on the result of a gladiatorial battle. People were willing to bet on the victory of a chosen athlete, and they needed someone to collect the money and distribute it among the winners. This is how the first sweepstakes and BKs came about.

Today, the popularity of bookmakers is at its peak. The development of Internet technology has attracted millions of new customers who can bet without getting up from their desk, while watching the state of affairs in the sports arena and choosing the best offers from the largest BKs.

Let's examine in more detail the principle of totalizators and betting shops, their features, differences and parallels parimatch review.

Who is a bookmaker

A bookmaker is a company that makes bets with customers on various events. In theory, you can bet on anything - the presidential election, Brexit, cultural and art events. However, in most cases, users bet on various sporting events - soccer and hockey matches, boxing matches, horse races, etc.

The principle of operation of bookmaker offices is very simple: a person applies to the company with the aim to put a certain amount of money on a certain outcome of a sporting event. The bookmaker gives him such an opportunity. If the client guesses the correct outcome of the event, he is paid the bet amount and some profit, in accordance with the selected odds. If the outcome is not determined correctly, the money is not returned to the client.

The founder of the modern bookmaker is considered to be a French entrepreneur Pierre Oehler. In the 19th century, he rented a small room at a hippodrome and made advertisements to attract people wishing to make a bet. Several years later, similar offices appeared in England - and, until today, British bookmakers are considered the most reliable. Bookmakers appeared in Russia in 1991.

The essence of a bookmaker's work

The main principle of operation of the betting companies is the following: the player is confident in the outcome of a particular event, and is ready to bet on it. He registers on the bookmaker's website or comes to a fixed office and places a bet. If the outcome is determined correctly, the client again applies to the same office and receives the money won. If the outcome is incorrect, the client gets nothing.