Legal Definition and Related Resources of Bookmaking

The term now commonly denotes the recording or registering of bets or wagers where those doing the recording and registering are doing so illegally. The taking and recording of bets on horse races. See state v Terroni, (Me.) 270 A.2d 75.

Browse or run a search for Bookmaking in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

Bookmaking in Historical Law

You might be interested in the historical meaning of this term. Browse or search for Bookmaking in Historical Law in the Encyclopedia of Law.

Search for legal acronyms and/or abbreviations containing Bookmaking in the Legal Abbreviations and Acronyms Dictionary.

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What does Bookmaking mean in American Law?

The definition of Bookmaking in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is:

The business of accepting wagers on uncertain events, especially sporting contests like football and horse racing. The bookmaker, in effect, is one who makes and operates (in the U.S. usually unlawfully-but cf. accepting wagers) a marketplace for trading in risky predictions, and like many market makers he is often linked up with wider markets where he can trade (“lay off”) some of his bets if his operations expose him personally to too much risk. As usual with professional gamblers, the bookmaker so adjusts the odds he will give that over a long enough time he must come out ahead, e.g., in an “even money” situation the typical bookmaker might make his customer, no matter which side he takes, bet at 6 for 5 odds. See also gamble.