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SportsGuru Dec 13, 2015 NFL/CFL Picks 0
A bookmaker is a person or company that accepts bets on the outcome of sporting events, races, and other events with uncertain outcomes. Bookmakers set odds on the different possible outcomes of an event, and bettors place bets on those outcomes. The odds set by bookmakers reflect the perceived probability of each outcome, with more likely outcomes having lower odds and less likely outcomes having higher odds.
Bookmakers earn a profit by ensuring that the total amount of money bet on each outcome is not evenly distributed, so that they always make a profit regardless of the outcome of the event. They may also adjust the odds based on the amount of money bet on each outcome, to ensure that they can cover any potential losses.