A person or organization that sets out the odds on a wager, accepts bets and pays out a cash incentive if the predictions are accurate is called a bookmaker. Bookmakers offer bets on many professional sports, horse racing and even events such as award ceremonies and elections. The aim of any business is to make a profit and bookmakers are no different. They calculate the odds in such a way that profits are guaranteed whilst making it worthwhile for a player to place a bet. The ideal odds ensure that the bookmaker suffers no financial loss regardless of the outcomes. Essentially, bookmakers are the backbone of the betting industry.
TAB, Take A Bet is one of South Africa’s oldest and most trusted bookmakers. Take A Bet is an example of a bookmaker that not only accepts bets placed in person at their betting outlets strategically located for easy access for people keen on responsible gambling, but has also graduated to an online bookmaker of note. TABonline is an initiative that seeks to make online betting accessible to South African who spend a lot of time on the internet and enjoy interactive betting online.
Many websites such as GamblingSA assist potential players when choosing a bookmaker with whom to place bets. GamblingSA is a directory of licensed bookmakers that appeal to players that appreciate a variety of sports, events and casino games to choose from. Online bookmakers Ladbrokes, Betfair and Greatodds come highly recommended, so is World of Sport.
It is very easy for a player to get carried away if the odds appear lucrative. It is the player’s responsibility to not bet more than the can afford and to exercise caution when making decisions about the amount of money they spend on betting activities.
Bookmakers are expected to hold licenses that allow them to provide comprehensive betting services as well as reliable support structures to ensure that online betting players are always familiar with betting rules and regulations and other relevant information so the betting service is transparent and safe.