How much do bookies make?
Bookmakers are companies that make the market for sports betting. When a punter wants to place a wager, they contact a local bookie. When taking a bet on a sporting event, the bookmaker will facilitate it and take the other side of the gamble. If a punter loses their bet, the bookmaking company will earn a profit. Similarly, gamblers are paid out by the companies on their successful wagers. Bookies make a profit by taking juice from the players. Juice is the commission levied on every transaction, and typically hovers between 1-10%. Resultantly, bookmakers offer below-fair odds to the bettor. This allows them to make a profit from the transactions. Punters typically get 4 out of 10 wagers correct. A bookie will collect revenue from every losing gamble. Small-time bookmakers earn around $100,000 a year. Larger bookies will pocket double or triple that sum. And big names in the industry will collect millions of dollars of annual revenue. How much do bookies make i...