Bookmakers, more commonly known as bookies, can either be an individual person or an organization who accepts and pays off bets, usually in sporting events at agreed-upon odds. Only recently have bookmakers and betting made their way into other events unrelated to sports like awarding ceremonies for celebrities, baby genders, and political elections.
Did you know that the recognized world leader in sports betting is the United Kingdom? Additionally, the first person to ever be considered as a bookmaker is a man from the UK named Harry Ogden, who did business the Newmarket Racecourse in Suffolk, England during the 1790s. Most bookies mainly focus on accepting wagers on professional sports like football, boxing, and horse racing, but some tend to venture into award ceremonies for celebrities, novelty betting, and political elections. Back in the day, bookmaking was exclusive to physical interaction with the bookmaker himself. Now, plenty of organizations offer bookmaking services online, along with recent events
Although bookmaking has been legal in the United Kingdom since 1961 and is considered to be a small contributor to the British economy, some countries see the practice as illegal and may be regulated in some states. In some countries, namely Singapore, Japan, Sweden, and Canada, only a singular bookmaker is considered legal, which is owned and controlled by the government, thereby assuring that its earnings go to the economy.
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