Bookie

AAA

DEFINITION of 'Bookie'

Someone who facilitates gambling, commonly on sporting events, by setting odds, accepting and placing bets, and paying out winnings on behalf of other people. "Bookie" is a slang term for "bookmaker." Bookies do not usually make their money by placing bets themselves, but by charging a transaction fee on their customers' bets known as a "vigorish," or "the vig." Bookies may also lend money to bettors.

INVESTOPEDIA EXPLAINS 'Bookie'

The types of gambling enabled by bookies are not always legal. Bookmaking and placing bets through a bookmaker can also be illegal. The legality of different types of gambling is determined by state governments. Some people have referred to their broker as their bookie due to large commissions and the broker's insistence on trading with regularity.

RELATED TERMS
  1. Gambling Income

    Any income that is the result of games of chance or wagers on ...
  2. Gambling Loss

    A loss resulting from games of chance or wagers on events with ...
  3. Gambler's Fallacy

    When an individual erroneously believes that the onset of a certain ...
  4. Jackpot

    The top prize in a game of chance. Jackpot prizes can be anything ...
  5. Risk Of Ruin

    The probability of an individual losing sufficient trading or ...
  6. Hot Hand

    The notion that because one has had a string of successes, he ...
Related Articles
  1. Gambling is defined as staking something on a contingency.
    Investing Basics

    Are You Investing Or Gambling?

    We look at ways in which gambling creeps into trading, and what may drive an individual to trade - or gamble - in the first place.
  2. Taxes

    Winning The Jackpot: Dream Or Financial Nightmare?

    Don't assume all prizes are free. Many come with enough costs to render them worthless.
  3. Options & Futures

    Going All-In: Comparing Investing And Gambling

    People often compare stocks to gambling, but how close are they really?
  4. Investing News

    5 Famous MLB Players Who Went Broke

    Major League Baseball is one of the biggest and most lucrative industries out there.
  5. Economics

    What is Happening To Atlantic City's Gambling Industry?

    It is quite ironic that Atlantic City, once a bustling seaside resort, home to Miss America Pageant and the inspiration for the iconic “Monopoly” game finds itself in economic doldrums today.
  6. Economics

    Industries That Thrive On Recession

    Find out where to turn when looking to invest in a tumultuous market.
  7. Chart Advisor

    Add Some Sin To Your Portfolio With This ETF

    There are thousands of ETFs on the market but none dedicated to sin stocks. Here's a look at a few alternatives to consider.
  8. As stocks see strong headwinds, investors can take a few tips from a successful short-seller.
    Investing News

    Learn How To Invest Defensively From This Hedge Fund Pro

    With the Dow Jones Industrial Average and the S&P 500 hovering near all-time highs and plenty of investors shifting to a defensive stance, there are plenty of opportunities to bet against the ...
  9. Investing Basics

    The Downward Spiral Of Trading Addiction

    Trading in the financial markets is stimulating, exciting and engrossing. But one can become addicted, just like with actual casino gambling or illegal drugs. Like any severe addiction, this ...
  10. Trading Strategies

    Follow The Herd In Trading The Capital Market

    If you have ever heard "the trend is your friend" and believed it, you may be a fan of herd instinct mentality. This is an environment where, just like with fashion, masses of people follow a ...

You May Also Like

Hot Definitions
  1. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  2. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  3. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
  4. Special Administrative Region - SAR

    Unique geographical areas with a high degree of autonomy set up by the People's Republic of China. The Special Administrative ...
  5. Annual Percentage Rate - APR

    The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents ...
  6. Free Carrier - FCA

    A trade term requiring the seller to deliver goods to a named airport, terminal, or other place where the carrier operates. ...
Trading Center