All Sports Betting Basics You Should Know

Bookmaker types

All types of bookmakers essentially perform the same role, that is, of taking bets. Nevertheless, some types may have their own unique advantages over the others. Let’s take you through the different types you should be aware of.

Racecourse bookmakers
These are the most conventional type of bookmakers which can be found at the dog racing and horse racing tracks throughout the world. Normally, they get grouped together in what’s commonly referred to as the betting circle. A good number of these bookmakers are independent small entities that constitute no more than 2-3 individuals. Rather than basing themselves at a solitary venue, they’re on the move and take bets at any location where there’s action. So you can see them in business almost every single day of the week. Furthermore, they’re asked to cough up a certain fixed fee at every racing venue they take bets at. This fee can be significant on the days of major events.
A visit to any racecourse would be incomplete if you don’t come across a racecourse bookmaker. Although people are more into placing wagers than having to wait in lines for handing over cash to racecourse bookmakers, many still find it the best way of betting at the racetracks.

Retail shops
These are retail bookmaking shops, providing bookmaking services the most conventional way. You can find hundreds of them in the UK and Ireland. Also commonly known as high street bookies, many of them are run by major brands these days. Although you could find tiny independent retail bookmaking shops in the days gone by, most of them have been taken over by larger chains today. To give you an idea about their enormity, William Hill owns 2,360 such shops, Ladbrokes PLC 2,209, Coral 1,850 and BetFred 1,350.
Majority of retail bookmaking shops deal only in cash. The customers are handed out a ticket only after they pay a certain amount of money for their wager. In the event that a wager wins, the customer can exchange his/her ticket for the applicable payout.

Telephone betting service providers
Once an extremely popular form of betting service, a large number of bookmakers still provide telephone betting services these days. In fact, they’re only second after the ever-increasing online bookmakers. Despite the fact that they aren’t as widely spread as they once used to, you can still find them in most areas.
The way they operate is pretty straightforward. You make a phone call to a particular bookmaking firm and you get connected to their operator. You tell the operator the wagers you wish to place and the amount of money you want to bet. The operator will confirm the odds and accept your payment. The payment is normally accepted in the form of debit or credit card, and winnings are automatically credited to the same card.

Online bookmakers
These bookmakers have increased by a great number since the advent of Internet during the 90s. Earlier, many people used to be skeptical about placing bets on the Internet, but now with the successful operations of several trustworthy and reputable operators, and their highly secure websites, bettors are increasingly turning to Internet for placing their bets. In fact, web-based bookmakers have become number one option for sports bettors throughout the world today.
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