Bookmaker Parlay Rules
A bookmaker, bookie, or turf accountant is an organization or a person that accepts and pays off bets on sporting and other events at agreed-upon odds. The first bookmaker, Ogden, stood at Newmarket in 1795. Bookmakers in many countries focus on accepting bets on professional sports, especially.
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A bookmaker, bookie, or turf accountant is an organization or a person that accepts and pays off bets on sporting and other events at agreed-upon odds.
History[edit]
The first bookmaker, Ogden, stood at Newmarket in 1795.[1]
Range of events[edit]
Bookmakers in many countries focus on accepting bets on professional sports, especially horse racing and association football (soccer). However, a wider range of bets, including on political elections, awards ceremonies such as the Oscars, and novelty bets are accepted by bookmakers in some countries.
Operational procedures[edit]
By 'adjusting the odds' in their favour (paying out amounts using odds that are less than what they determined to be the true odds) or by having a point spread, bookmakers aim to guarantee a profit by achieving a 'balanced book', either by getting an equal number of bets for each possible outcome or (when they are offering odds) by getting the amounts wagered on each outcome to reflect the odds.[2] When a large bet comes in, a bookmaker may also try to lay off the risk by buying bets from other bookmakers. Bookmakers do not generally attempt to make money from the bets themselves but rather by acting as market makers and profiting from the event regardless of the outcome. Their working methods are similar to those of an actuary, who does a similar balancing of financial outcomes of events for the assurance and insurance industries.
Legality[edit]
Depending on the country, bookmaking may be legal or illegal and is often regulated. In the United Kingdom, since 1 May 1961, bookmaking has been legal and has even been a small contributor to the British economy, with a recent explosion of interest with regard to the international gaming sector industry. However, gambling debts were unenforceable under British law until the Gambling Act 2005. Many bookmakers are members of IBAS, an industry organisation used to settle disputes.
Bookmaking is generally illegal in the United States, with Nevada being an exception due to the influence of Las Vegas. In May 2018, a United States Supreme Court ruling struck down the Professional and Amateur Sports Protection Act of 1992, which prevented individual states from legalizing bookmaking.
In some countries, such as Singapore, Sweden, Canada, and Japan, the only legal bookmaker is owned and operated by the state. In Canada, this is part of the lottery programme and is known as Sport Select.
United Kingdom gambling industry[edit]
The first bookmaker in the United Kingdom is considered to be Harry Ogden, who opened a business in the 1790s, although similar activities had existed in other forms earlier in the eighteenth century.[3][4]
Following the Gaming Act 1845, the only gambling allowed in the United Kingdom was at race tracks. The introduction of special excursion trains meant that all classes of society could attend the new racecourses opening across the country. Cash flowed to the bookmakers who employed bodyguards against protection gangs operating within the vast crowds.[5] Illegal betting shops were fined, but some, like Bella Thomasson, ran betting businesses that the police appeared to turn a blind eye to.[6]
In 1961, Harold Macmillan's Conservative government legalised betting shops, with tough measures enacted to ensure that bookmakers remained honest. A large industry has grown since. At one time, there were over 15,000 betting shops. Now, through consolidation, they have been reduced to between 9,100 and 9,200 in 2013.[7] The group of the largest bookmakers in the country, known as the 'Big Three', comprises William Hill, Ladbrokes, and Coral.[8]
Improved TV coverage and the modernisation of the law have allowed betting in shops and casinos in most countries. In the UK, on-track bookies still mark up the odds on boards beside the race course and use tic-tac or mobile telephones to communicate the odds between their staff and to other bookies, but, with the modernisation of United Kingdom bookmaking laws, online and high street gambling are at an all-time high. A so-called super-casino had been planned for construction in Manchester, but the government announced that this plan had been scrapped on 26 February 2008.
Internet gambling[edit]
Although online gambling first started in 1994 when the licensing authority of Antigua and Barbuda passed the Free Trade & Processes Act, bookmakers did not get involved until 2001. They were forced to act when research at the time found there were eight million online players worldwide.[9]
With the arrival of the World Wide Web, many bookmakers have an online brand, but independently owned bookmakers often still maintain a 'bricks and mortar' only operation as the software and hardware required to operate a successful online betting operation are complex and their costs are quite prohibitive; other bookmakers operate 'skins' or 'white label' websites, which they purchase from one of the large firms. The main websites require bets to be from countries where Internet gambling is allowed and from people over 18 years old. Some small bookmakers and startups purchase software from specialised white label solution providers. Since gambling products have a high conversion rate from one niche to another, most online betting websites also feature other gambling products such as poker, live dealer casino games, lottery, bingo, slots and other casino games. Controversially, the explosion in Internet gambling is being linked to a rise in gambling addiction, according to the UK's help and advice organisations for addicts, GamCare and Gamblers Anonymous.
Increasingly, online bettors are turning to the use of betting exchanges such as Betfair and BETDAQ, which automatically match back and lay bets between different bettors, thus effectively cutting out the bookmaker's traditional profit margin also called an overround.
These online exchange markets operate a market index of prices near but usually not at 100% competitiveness, as exchanges take commissions on winnings. True wholesale odds are odds that operate at 100% of probabilistic outcomes.
Betting exchanges compete with the traditional bookmaker. They are generally able to offer punters better odds because of their much lower overheads but also give opportunities for arbitrage, the practice of taking advantage of a price differential between two or more markets. However, traditionally, arbitrage has always been possible by backing all outcomes with bookmakers (dutching), as opposed to laying an outcome on an exchange. Exchanges, however, allow bookmakers to see the state of the market and set their odds accordingly.
With the increasing number of online betting exchanges, betting exchanges are now providing free bet offers in an attempt to lure customers away from the competition. These free bets are generally based on the size of the deposit made into the gambling account. For example, if a customer made a deposit of $20, the betting exchange would deposit an additional $20 for the customer to use.[10] Free bet rules vary depending on the betting exchange.
Some bookmakers have even taken to using betting exchanges as a way of laying off unfavourable bets and thus reducing their overall exposure. This has led to insecurity from some TABs in Australia, state-run betting agencies that attempted to deny Betfair an Australian licence by running unfavourable ads in the media regarding the company. When Tasmania granted Betfair a licence despite these efforts, the Western Australian state legislature passed a law that specifically criminalised using betting exchanges from within the state; however, the law was later ruled to be unconstitutional. As a result, internet gambling in Australia required a new legal framework. The Interactive Gambling Act 2001 regulates the online gambling market in Australia, together with all its amendments. The last amendment was introduced on 13 September 2017. This bill states that online casinos, online poker and live betting is illegal in Australia. The Australian Communication and Media Authority (ACMA) is the regulatory body that is in charge of all supervising online gambling activities. Online sports betting is legal, however.[11]
Bets are also taken via phones, using email and SMS text messages,[12] though poker and other sports are more suited to other media. As technology moves on, the gambling world ensures it is a major player in new technology operations.
Most televised sports in the United Kingdom and the rest of Europe are now sponsored wholly or partly by Internet and high street bookmakers, with sometimes several bookmakers and online casinos being displayed on players' shirts, advertising hoardings, stadium signs and competition event titles. Sponsors are especially highlighted in the football category since football fans present a significant percentage of the target group the bookmakers serve.
Many of the bookmakers are sponsoring some of the major football teams in the major European football leagues,[13] although Werder Bremen are currently fighting the German courts for the freedom to continue featuring bookmaker Bwin on their shirts, as Germany and France take action against online gamers. For example, as of 1 January 2020, Germany bettors will not be able to bet more than €1,000 a month. The latest amendment of the ITG states that. New online sportsbook laws are expected in the near future in Germany, as this law is only temporary: the expiration date is set to be on 20 June 2020.[14]
The situation is not that strict in France, however. Online sports betting in France is divided into two sections: Autorité de Régulation des Jeux en Ligne (ARJEL) regulates online sports betting, while online horse betting is regulated by the law 'Decree 2010-498 from 17 May 2010. International bookmakers are allowed to enter the French market, thanks to the Law No. 2010-476 from 12 May 2010.[15][16]
With the recent banning of tobacco sponsorship[17] and the significant commercial budgets available to the gaming industry, sponsorship by car manufacturers, alcoholic drinks, soft drinks and fast-food marketers is being rapidly replaced by sponsorship from gaming companies in the Far East and Europe.
The United Kingdom's Gambling Act 2005 introduced a new regulatory system for governing gambling in Great Britain. This system includes new provisions for regulating the advertising of gambling products. These provisions of the Act came into effect in September 2007. It is an offence to advertise in the UK, gambling that physically takes place in a non-European Economic Area (EEA) or, in the case of gambling by remote means, gambling that is not regulated by the gambling laws of an EEA state. The Gambling Commission is the body that makes sure all sites and operators follow the new restrictions. In addition to the Gambling Act of 2005, according to the new gambling bill, online gambling sites are only allowed to offer services within the United Kingdom, if they are registered at the UK Gambling Commission.[18]
The situation is more confused in the United States, which has attempted to restrict operators of foreign gambling websites accessing their domestic market. This resulted in 2007 in a ruling against the US government by the World Trade Organization.[19] However, common online gambling laws in the United States still don't exist - it differs from state to state. All forms of online gambling are illegal within the states of Utah and Hawaii, while the states of Delaware, Pennsylvania and New Jersey took a different approach: almost all forms of online gambling are legal in these states. These are the only US states where online casino sites can be legally registered. It is important to mention that Native Americans have their own gambling legislation - the Indian Gaming Regulatory Act of 1988. However, they need their state's approval in order to be able to offer their services online.[20]
See also[edit]
- Bookies – a German film
References[edit]
- ^Barrett, Norman, ed. (1995). The Daily Telegraph Chronicle of Horse Racing. Enfield, Middlesex: Guinness Publishing. p. 10.
- ^Cortis, Dominic (2015). 'Expected Values and variance in bookmaker payouts: A Theoretical Approach towards setting limits on odds'. Journal of Prediction Markets. 1. 9.
- ^Munting, Roger (1996). An Economic and Social History of Gambling in Britain and the USA. Manchester University Press. p. 89.
- ^Vamplew, Wray; Kay, Joyce. (2005). Encyclopedia of British Horseracing. Routledge. p. 50.
- ^Dick Kirby, The Race Track Gangs, The Peeler issue 7 July 2002, 'Friends of the Met Police Museum'
- ^'Thomason, Ann Arabella [known as Bella Thomasson] (1874–1959), bookmaker'. Oxford Dictionary of National Biography. doi:10.1093/ref:odnb/56685.
- ^Gambling Commission Gambling industry statistics April 2009 to September 2012
- ^Vamplew and Kay, p. 51.
- ^'A history of online casinos: infographic'. rightcasino.com.
- ^'The Most Common Sportsbook Bonus Types'. Retrieved 24 August 2014.
- ^Communications. 'Interactive Gambling Act 2001'. www.legislation.gov.au. Retrieved 4 September 2019.
- ^'Betfred.com Chooses OtherLevels' Platform to Power Their Mobile Marketing Campaigns'. Market Watch. 28 July 2014. Retrieved 24 August 2014.
- ^'A Look At Bookmakers Sponsoring Football Clubs'. ReliableBookies.com. 19 March 2013. Retrieved 19 March 2013.
- ^'Entwurf eines Dritten Staatsvertrages zur Änderung des Staatsvertrages zum Glücksspielwesen in Deutschland (Dritter Glücksspieländerungsstaatsvertrag)'(PDF). Landtag Nordrhein-Westfalen.
- ^LOI n° 2010-476 du 12 mai 2010 relative à l'ouverture à la concurrence et à la régulation du secteur des jeux d'argent et de hasard en ligne (1). Legifrance. Retrieved 4 September 2019.
- ^Décret n° 2010-498 du 17 mai 2010 relatif à la définition des courses hippiques supports des paris en ligne et aux principes généraux du pari mutuel. Legifrance. Retrieved 4 September 2019.
- ^Holman, C D'Arcy; Donovan, Robert; Corti, Billie; Jalleh, Geoffrey; Frizzell, Shirley; Carroll, Addy. 'Banning tobacco sponsorship: replacing tobacco with health messages and creating health-promoting environments'. The British Medical Journal. Retrieved 24 August 2014.
- ^'The Gambling (Licensing and Advertising) Act 2014'. UK Gambling Commission. Retrieved 4 September 2019.
- ^'WTO rules against US gaming ban'. BBC News. 30 March 2007. Retrieved 1 September 2011.
- ^'Public Law 100-497-OCT. 17, 1988: An Act to regulate gaming on Indian lands'(PDF). Government Publishing Office [US]. Retrieved 4 September 2019.
What's a Parlay Pick
A Parlay is a Bet that Contains 2 to 12 Selections that are Linked Together to Provide a Higher Potential Payout. If one or more of the Selections Loses, the Entire Bet is Lost. More on Parlay Payout
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Bookmaker Parlay Rules
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Detroit Red Wings at Carolina Hurricanes - Carolina -1½ (-120)
Tampa Bay Lightning at Chicago Blackhawks - Tampa Bay -220
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Wednesday, March 3rd, 2021
Minnesota Wild at Vegas Golden Knights - Vegas -145
Minnesota Wild at Vegas Golden Knights - Over 5½ (-115)
1 Units for +2.16 at Bovada Sportsbook - Won 2.16
Tuesday, March 2nd, 2021
Buffalo Sabres at New York Rangers - NY Rangers -150
Vancouver Canucks at Winnipeg Jets - Winnipeg -120
1 Units for +2.06 at Bovada Sportsbook - Won 2.06
Monday, March 1st, 2021
Calgary Flames at Ottawa Senators - Calgary -150
Vancouver Canucks at Winnipeg Jets - Winnipeg -135
1 Units for +1.90 at Bovada Sportsbook - Lost 1.00
February 2021 Record: (8-20) -4.99
Sunday, February 28th, 2021
Boston Bruins at New York Rangers - Boston -160
Detroit Red Wings at Chicago Blackhawks - Chicago -190
1 Units for +1.48 at Bovada Sportsbook - Won 1.48
Saturday, February 27th, 2021
Indiana Pacers at New York Knicks - New York -115
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1 Units for +1.91 at Bovada Sportsbook - Lost 1.00
Friday, February 26th, 2021
Boston Bruins at New York Rangers - Boston -170
Los Angeles Kings at Minnesota Wild - Minnesota -175
1 Units for +1.50 at Bovada Sportsbook - Lost 1.00
Thursday, February 25th, 2021
Nashville Predators at Detroit Red Wings - Nashville -160
Edmonton Oilers at Vancouver Canucks - Edmonton -135
1 Units for +1.83 at Bovada Sportsbook - Lost 1.00
Wednesday, February 24th, 2021
Anaheim Ducks at Arizona Coyotes - Arizona -155
Los Angeles Kings at St. Louis Blues - St. Louis -155
1 Units for +1.71 at Bovada Sportsbook - Lost 1.00
Tuesday, February 23rd, 2021
Chicago Blackhawks at Columbus Blue Jackets - Columbus -120
Pittsburgh Penguins at Washington Capitals - Washington -110
1 Units for +2.50 at Bovada Sportsbook - Lost 1.00
Monday, February 22nd, 2021
Dallas Stars at Florida Panthers - Florida -125
Calgary Flames at Toronto Maple Leafs - Toronto -145
1 Units for +2.04 at Bovada Sportsbook - Lost 1.00
Sunday, February 21st, 2021
Maryland Terrapins at Rutgers Scarlet Knights - Rutgers -200
Penn State Nittany Lions at Iowa Hawkeyes - Iowa -11
1 Units for +1.86 at Bovada Sportsbook - Lost 1.00
Saturday, February 20th, 2021
Arizona Wildcats at USC Trojans - USC -6
Virginia Cavaliers at Duke Blue Devils - Virginia -140
1 Units for +2.27 at Bovada Sportsbook - Lost 1.00
Friday, February 19th, 2021
Florida Panthers at Detroit Red Wings - Florida -180
Florida Panthers at Detroit Red Wings - Over 5½ (-115)
1 Units for +1.91 at Bovada Sportsbook - Won 1.91
Thursday, February 18th, 2021
Buffalo Sabres at Washington Capitals - Washington -155
New York Rangers at Philadelphia Flyers - Philadelphia -115
1 Units for +2.08 at Bovada Sportsbook - Lost1.00
Wednesday, February 17th, 2021
Arizona State Sun Devils at USC Trojans - USC -10 (-105)
Utah State Aggies at Boise State Broncos - Utah State +1½ (-115)
1 Units for +2.65 at Bovada Sportsbook - Lost 1.00
Tuesday, February 16th, 2021
Washington Capitals at Pittsburgh Penguins - Pittsburgh -125
Washington Capitals at Pittsburgh Penguins - Over 6½ (-120)
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Monday, February 15th, 2021
Chicago Blackhawks at Detroit Red Wings - Chicago -140
Anaheim Ducks at San Jose Sharks - San Jose -115
1 Units for +2.20 at Bovada Sportsbook - Won 2.20
Sunday, February 14th, 2021
Pittsburgh Panthers at Georgia Tech Yellow Jackets - Georgia Tech -210
Minnesota Golden Gophers at Maryland Terrapins - Maryland -160
1 Units for +1.40 at Bovada Sportsbook - Won 1.40
Saturday, February 13th, 2021
Butler Bulldogs at Georgetown Hoyas - Butler +1 (-105)
Duke Blue Devils at NC State Wolfpack - Duke -165
1 Units for +2.14 at Bovada Sportsbook - Lost 1.00
Friday, February 12th, 2021
Florida Atlantic Owls at UTSA Roadrunners - UTSA -175
St. Bonaventure Bonnies at VCU Rams - VCU -145
1 Units for +1.66 at Bovada Sportsbook - Won 1.66
Thursday, February 11th, 2021
Edmonton Oilers at Montreal Canadiens - Montreal -160
Columbus Blue Jackets at Chicago Blackhawks - Chicago -115
1 Units for +2.04 at Bovada Sportsbook - Lost 1.00
Wednesday, February 10th, 2021
Atlanta Hawks at Dallas Mavericks - Dallas -165
Milwaukee Bucks at Phoenix Suns - Milwaukee -175
1 Units for +1.52 at Bovada Sportsbook - Lost 1.00
Tuesday, February 9th, 2021
Detroit Red Wings at Florida Panthers - Florida -1½ (+115)
Tampa Bay Lightning at Nashville Predators - Tampa Bay -165
1 Units for +2.45 at Bovada Sportsbook - Lost 1.00
Monday, February 8th, 2021
New York Islanders at New York Rangers - NY Rangers -115
Vancouver Canucks at Toronto Maple Leafs - Toronto -200
1 Units for +1.80 at Bovada Sportsbook - Lost 1.00
Sunday, February 7th, 2021
Kansas City Chiefs at Tampa Bay Buccaneers - Kansas City -3
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1 Units for +2.73 at Bovada Sportsbook - Lost 1.00
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Boston Bruins at Philadelphia Flyers - Over 5½ (-100)
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Tuesday, February 2nd, 2021
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Monday, February 1st, 2021
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Vancouver Canucks at Montreal Canadiens - Over 6 (-130)
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Sunday, January 31st, 2021
Dallas Stars at Carolina Hurricanes - Carolina -140
New York Islanders at Philadelphia Flyers - Philadelphia -120
1 Units for +2.14 at Bovada Sportsbook - Won 2.14
Saturday, January 30th, 2021
California Golden Bears at Arizona Wildcats - Arizona -10
Iowa State Cyclones at Mississippi State Bulldogs - Mississippi State -10
1 Units for +2.64 at Bovada Sportsbook - Won 2.64
Friday, January 29th, 2021
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1 Units for +1.61 at Bovada Sportsbook - Lost 1.00
Thursday, January 28th, 2021
Los Angeles Kings at Minnesota Wild - Minnesota -165
San Jose Sharks at Colorado Avalanche - Colorado -250
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Bookmaker Parlay Rules Meaning
Wednesday, January 27th, 2021
Detroit Pistons at Cleveland Cavaliers - Cleveland -140
Dallas Mavericks at Utah Jazz - Utah -170
1 Units for +1.72 at Bovada Sportsbook - Won 1.72
Tuesday, January 26th, 2021
Los Angeles Kings at Minnesota Wild - Minnesota -160
San Jose Sharks at Colorado Avalanche - Colorado -210
1 Units for +1.40 at Bovada Sportsbook - Lost 1.00
Monday, January 25th, 2021
Charlotte Hornets at Orlando Magic - Orlando -1 (-105)
Philadelphia 76ers at Detroit Pistons - Philadelphia -6½
1 Units for +2.73 at Bovada Sportsbook - Lost 1.00
Sunday, January 24th, 2021
Tampa Bay Buccaneers at Green Bay Packers - Green Bay -175
Buffalo Bills at Kansas City Chiefs - Kansas City -170
1 Units for +1.50 at Bovada Sportsbook - Lost 1.00
Saturday, January 23rd, 2021
Tampa Bay Lightning at Columbus Blue Jackets - Tampa Bay -165
Los Angeles Kings at St. Louis Blues - St. Louis -200
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Friday, January 22nd, 2021
San Jose Sharks at Minnesota Wild - Over 5½ (-120)
Vegas Golden Knights at Arizona Coyotes - Vegas -170
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Thursday, January 21st, 2021
New Jersey Devils at New York Islanders - NY Islanders -155
Tampa Bay Lightning at Columbus Blue Jackets - Over 5½ (-115)
1 Units for +2.08 at Bovada Sportsbook - Lost 1.00
Wednesday, January 20th, 2021
Edmonton Oilers at Toronto Maple Leafs - Toronto -150
Arizona Coyotes at Vegas Golden Knights - Vegas -200
1 Units for +1.50 at Bovada Sportsbook - Lost 1.00
Tuesday, January 19th, 2021
Chicago Blackhawks at Florida Panthers - Florida -165
Carolina Hurricanes at Nashville Predators - Nashville -105 - No Action
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Monday, January 18th, 2021
Buffalo Sabres at Philadelphia Flyers - Philadelphia -150
Arizona Coyotes at Vegas Golden Knights - Vegas -200
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Sunday, January 17th, 2021
Central Florida Knights at Houston Cougars - Houston -14
Memphis Tigers at Tulsa Golden Hurricane - Tulsa +2
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Saturday, January 16th, 2021
Michigan Wolverines at Minnesota Golden Gophers - Minnesota +6 (-115)
Baylor Bears at Texas Tech Red Raiders - Baylor -4 (-115)
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Friday, January 15th, 2021
Chicago Blackhawks at Tampa Bay Lightning - Tampa Bay -1½ (-120)
Washington Capitals at Buffalo Sabres - Washington -135
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Thursday, January 14th, 2021
Columbus Blue Jackets at Nashville Predators - Nashville -120
San Jose Sharks at Arizona Coyotes - Arizona -130
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Wednesday, January 13th, 2021
Vancouver Canucks at Edmonton Oilers - Edmonton -140
St. Louis Blues at Colorado Avalanche - Colorado -145
1 Units for +1.90 at Bovada Sportsbook - Lost 1.00
Tuesday, January 12th, 2021
Mississippi Rebels at Florida Gators - Florida -160
Eastern Michigan Eagles at Toledo Rockets - Toledo -9 (-115)
1 Units for +2.04 at Bovada Sportsbook - Won 2.04
Monday, January 11th, 2021
Phoenix Suns at Washington Wizards - Phoenix -5½
Toronto Raptors at Portland Trail Blazers - Portland -5 (-105)
1 Units for +2.73 at Bovada Sportsbook - Lost 1.00
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Sunday, January 10th, 2021
Los Angeles Lakers at Houston Rockets - LA Lakers -150
San Antonio Spurs at Minnesota Timberwolves - San Antonio -155
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Saturday, January 9th, 2021
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Georgetown Hoyas at Syracuse Orange - Syracuse -10
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Friday, January 8th, 2021
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Washington Wizards at Boston Celtics - Washington +4½ (-115)
1 Units for +2.50 at Bovada Sportsbook - Lost 1.00
Thursday, January 7th, 2021
Idaho State Bengals at Northern Arizona Lumberjacks - Northern Arizona -140
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Wednesday, January 6th, 2021
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Wake Forest Demon Deacons at Virginia Cavaliers - Virginia -14 (-115)
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Tuesday, January 5th, 2021
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NC State Wolfpack at Clemson Tigers - Clemson -220
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Monday, January 4th, 2021
Monmouth-NJ Hawks at Siena Saints - Siena -145
Maryland Terrapins at Indiana Hoosiers - Indiana -210
1 Units for +1.49 at Bovada Sportsbook - Won 1.49
Sunday, January 3rd, 2021
Miami Dolphins at Buffalo Bills - Buffalo -1 (+100)
Arizona Cardinals at Los Angeles Rams - Arizona -135
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Saturday, January 2nd, 2021
Charlotte Hornets at Philadelphia 76ers- Charlotte +10
Oklahoma City Thunder at Orlando Magic - Oklahoma City +7½
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