Definition

The person or organization that sets odds and accepts bets (also “book” or sportsbook). A bookmaker’s role is to facilitate betting and manage risk by adjusting odds.

Formula

Example

A **bookmaker** might open Crawford as a +150 underdog but shift the odds if heavy bets come in on him. Big Las Vegas sportsbooks and online apps (DraftKings, FanDuel) act as bookmakers for major fights.