Definition of Book

Click Here To Open an Online Sportsbook Account Now!

(Ad)


What does the term "book" mean in the world of sports betting? What is meant by the term "book"?

In sports betting, a "book" is an entity that accepts bets on a sports event.

"Books" make money by accepting bets on both sides of a sporting event and charging a "vig". For instance, if two teams have the exact same odds of winning a game, you would need to bet $110 in order to win $100 back on either side. So, let's say that Person A bets $110 on Team A to win, while Person B bets $110 on Team B to win. The "book" will need to pay out $100 to the winner as well as returning the $110 bet of the winner. So, the book makes $10 as their fee. The goal of a sports book is to balance the bets so that there is the same amount of money to be won on both sides. In order to do this, a book must keep the odds set so that they induce an equal amount of action on all outcomes.

Books are especially popular in Europe, as gambling on sports is a daily part of life for many people. Things aren't so clear cut in the United States, however, as people need to travel to Las Vegas in order to legally put a wager down on a sporting event.