A bookie, short or slang for “bookmaker,” is someone who facilitates gambling, most commonly on sporting events. A bookie sets odds, accepts and places bets, and pays out winnings on behalf of other people.
Bookies do not usually make their money by placing bets themselves; rather, they charge a transaction fee on their customers’ bets known as the “vigorish” (“vig” for short). Bookies may also lend money to bettors. A bookie can be an individual or an organization.
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