Bookies and Bookmaking

Bookie or Bookmaker: A Turf Accountant. A professional bettor. One who analyzes, determines, or simply posts the betting odds in games, especially horse racing and sports betting, receives and records wagers from a number of people on a regular basis, collects from losers, and pays off winners.

Bookmaking started around 1780 at Richard Tattersall's horse auction business and, in fact, bookmakers who set up their stands at the “Tattersall Enclosure” immortalize his name at English racetracks today. The term is derived from the activity of "making book" or keeping a notebook of wagers - Bookmaking.

In the early days bookmakers were involved in handicapping. However, chaos prevailed both at the track and in sports betting shops throughout London until the tradition of the "honest bookmaker," important for the success of the business, originated with in the reputations of two famous bookmakers, Fred Swindell and Leviathan Davies. Around 1850, Davis also originated "lists" of odds that were posted throughout London, which made off-track betting possible.

In 1866 the first American bookmaking business was established in Philadelphia.

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