Definition

Noun: A person, especially one who operates professionally, who accepts and pays off bets placed by others, particularly on sporting events like horse races. A bookie calculates odds and manages the risk of these wagers.

Usage

A "bookie" is the common, informal term for a bookmaker. The word is used to refer to the individual or operation that facilitates betting, acting as the counterparty to the bettor. It is most frequently associated with organized, and sometimes illegal, gambling.

Examples

• He placed a $50 bet on the favorite with his local bookie.
• The police arrested several bookies for operating an illegal gambling ring.
• Before online sportsbooks, you had to find a bookie to place a bet.

Advanced Usage

• "To run a book": To operate as a bookmaker.
  • He's been running a book on the side for years.
• The formal and legal term is bookmaker, while "bookie" is the colloquial equivalent.

Variants and Related Words

• Bookmaker (n): The formal term for a professional who accepts and pays off bets.
• Bookmaking (n): The profession or activity of being a bookmaker.

Synonyms

• Bookmaker
• Turf accountant (a formal, chiefly British term for a licensed bookmaker)

Related Phrases

• To lay off a bet: (For a bookie) to place a portion of a bet accepted from a customer with another bookmaker to reduce risk.
  • The bookie had to lay off some of the large wager to avoid a huge loss.

Noun

1. a gambler who accepts and pays off bets (especially on horse races)