21Mar/102
Bookmaking
The general role of the bookmaker is to act as a market maker for sports wagers, most of which have a binary outcome: a team either wins or loses. The bookmaker accepts both wagers, and maintains a spread (the vigorish) which will ensure a profit regardless of the outcome of the wager. The Federal Wire Act of 1961 was an attempt by the US government to prevent illegal bookmaking[1]. However, this Act does not apply to other types of online gambling.[2] The Supreme Court has not ruled on the meaning of the Federal Wire Act as it pertains to Online gambling.
Notes
This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.
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March 29th, 2010 - 16:20
Very nice article! I’ve been a bookmaker myself but I had to quit as i lost a lot of money …
Perhaps you should write guides as well on how to quit?
June 9th, 2010 - 10:08
Gambling rooks were never equally accepted and as widespread as when it finally came in contact with cyber space. Online gaming, although beneficiary for those gambling aficionados, allowing them to hazard and avail of the enjoyment at home, also has some of its downsides more specifically the existence of online gambling rooks.Online rooks usually include the refusal of a certain game company to give you your winnings.