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Friday, 04 November 2011 08:00

The Bookie, A Dying Breed Of Betting

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“Place your bets, place your bets!” It’s not often you hear that classic catchphrase these days, unless you’re at the horse races, or down the dog track.

The traditional Bookie is suffering stiff competition from online betting. The fact is, online you are able to offer the punter much better odds due to the much lower costs of overheads. Also, online you are able to take advantage of an arb or arbitrage, by placing one bet on each outcome with different betting comapnies, the bettor can make a profit.

Nowadays bets can be done over the Internet on your phone or even by text message, you don’t even need a computer, let alone a person! Yet despite the demise of the individual Bookie, betting shops in Britain are enjoying a substantial growth. I live in Hackney and there are about 10 betting shops on my local high street! With the offer of free bets on decent odds and and slot promotions the traditional individual Bookmaker just can’t compete. This is actually a real tragedy, for being a Bookie is a lost art, that requires a great knowledge of the sports you work in and a quick brain for Maths, a far cry from the staff at your local Ladbrokes.

The quintessential image of the flat cap wearing bookie, chewing on a fag and scribbling down odds on his board is still present if you ever venture down to the Greyhound track, but it’s a dying breed and online betting is the hungriest dog on the track.