In Sports Betting and Bookmaking: An American History, Arne K. Lang provides a sweeping overview of legal and illegal sports and race betting in the United States, from the first thoroughbred meet at. Bookmaking Guidelines. With sports betting becoming increasingly popular and the advent of technological developments that make it possible for anyone to bet online safely, becoming a. The illegal betting industry is growing not just in terms of revenue, but also in its reach, and there are fears over its influence on match fixing. Legal definition of bookmaking: the practices of a bookmaker.

What Is Bookmaking In Law

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Bookmaking is the practice of laying bets on various possible outcomes of a single event. It is a practice of betting by determining odds, and receiving and paying off bets on sports competitions such as horse racing and the like. The term originates from the practice of recording such wagers in a ledger or a 'book' and gives the term bookmaking for the practice of making the book.

The following is an example of state statute (Washington) defining the term.

Pursuant to [Rev. Code Wash. (ARCW) § 9.46.0213] 'Bookmaking,' as used in this chapter, means accepting bets, upon the outcome of future contingent events, as a business or in which the bettor is charged a fee or 'vigorish' for the opportunity to place a bet.

Is Bookmaking Illegal

Legal Definition list

• Bookmaking

BOOK. A general name given to every literary composition which is printed; but appropriately to a printed composition bound in a volume.
2. The copyright, (q. v.) or exclusive right to print and publish a book, may be secured to the author and his assigns for the term of twenty- eight years; and, if the author be living, and a citizen of the United States, or resident therein, the same right shall be continued to him for the further term of fourteen years, by complying with the conditions of the act of Congress; one of which is, that he shall, within three months after publication, deliver, or cause to be delivered, a copy of the same to the clerk of the said district. Act of February 3, 1831. 4 Sharsw. cont. of Story's L. U. S. 2223.