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For the place part of the bet to give a return, the selection must either win or finish in one of the predetermined places for the event, such as first place or second place. The odds paid on the place part of the bet are usually a fraction (commonly 1 ⁄ 2, 1 ⁄ 3, 1 ⁄ 4 or 1 ⁄ 5) of the win odds. The trade-off being that one has a ...
In gambling parlance, making a book is the practice of laying bets on the various possible outcomes of a single event. The phrase originates from the practice of recording such wagers in a hard-bound ledger (the 'book') and gives the English language the term bookmaker for the person laying the bets and thus 'making the book'.
This situation occurs when two bookmakers are offering different lines on the same event, or if a bettor has placed a bet and the bookmaker changes the line. The bettor simply takes the most favorable lines at each bookmaker, and if the result of the contest is between the numbers, or in the "middle", then the bettor wins both bets.
By "adjusting the odds" in their favour (paying out amounts using odds that are less than what they determined to be the true odds) or by having a point spread, bookmakers aim to guarantee a profit by achieving a 'balanced book', either by getting an equal number of bets for each possible outcome or (when they are offering odds) by getting the amounts wagered on each outcome to reflect the ...
The extra $10 per person is, in effect, a bookmaker's commission for taking the action. This $10 is not in play and cannot be doubled by the winning bettor; it can only be lost. A losing bettor simply loses his $110. A winning bettor wins back his original $110, plus his $100 winnings, for a total of $210.
The latest survey also found that the most common reason Americans bet on sports was to make extra money (65%), edging past gambling for enjoyment (61%) and doing it to have fun with friends and ...
In 2011, William Hill sold its remaining betting shops in Ireland to BoyleSports because of what a William Hill employee described as "the restrictive nature" of the laws governing retail betting in Ireland. [55] William Hill had pulled out of Italy in 2008 after just two years, a failure which cost the company £1m in wasted investment. [56]
The Gambling Commission said it was investigating the matter and that both bookmakers could "still face regulatory action", as it investigated "key senior staff at bookmakers who are responsible for bringing those products to market". In October 2019 the Commission ordered Petfre, Betfred's parent, to pay £322,000 for money laundering failures.