Definition of Online Bookmaker

What is an "online bookmaker"? What is the definition of the term "online bookmaker"?

In years past, if you wanted to put a bet down on a sporting event or race, you'd either have to:

1) Find a bookmaker in your area (and they might not be the most reputable person in the world)
2) Place a bet with the bookmaker at the track

In this day and age, all of this is now down online.

No more seedy bookmakers that are giving you terrible lines. No more worrying if you will get paid.

Instead, we have online bookmakers that provide technological innovations like early cash-outs and in-play betting.

The sports world is a much better place as a result.

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The job of the online bookmaker is simple - accurately price odds so that there is an equal amount of liability for the book on any side.

If the bookmaker can accomplish this, they will make a profit from the "vig".

The online bookmaker landscape is very competitive, and these companies will fight tooth-and-nail for your business.

In order to win your business, these bookmakers will provide bonuses, lines for games available upon request, VIP rewards, etc.

The move to online has been a godsend for customers of bookmakers, as they are the prime beneficiaries of this competition to acquire new customers.

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Some of the innovations that online bookmakers have provided over the years include:

1) In-Play Betting, which is the ability to bet on games once the game has already started. Odds move in real-time.

2) Deposit Bonuses. These didn't exist in the days before online bookmakers.

3) Early Cash-Outs. Again, old-school bookmakers would require negotiations to buy out of bets early, and this would usually be quite uncomfortable for the customer.

4) Complex Parlays. If you were dealing with your in-person bookmaker, setting up complex parlays would be a pain. Now, with online bookmakers, this process is simple.

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The industry continues to innovate with each passing day, and this is great news for customers.