bookmaker

A bookmaker is a person or organization that sets odds and takes bets on the outcome of sporting events or other contests. They assess the likelihood of different results and offer fixed odds to betters, aiming to balance the amount wagered on each side to ensure profit regardless of the event result. Essentially, bookmakers serve as third parties who facilitate betting, manage risk, and provide a platform for people to wager on outcomes they believe will happen. They profit through the margin built into the odds, often called the "vigorish" or "juice."