A Dictionary Of Horse Racing Terms – B – Part 2
Bookmakers
There are several subdivisions of bookmaker:
Some operate spread betting services
Some operate a telephone credit service or postal betting service
Some operate betting shops off-course
Some make a book on the racecourse
Bigger bookmakers will offer two or three of the above activities. At the racecourse bets are agreed with the backer at starting price, and are settled at the quoted price.
Bookmakers activities on or off the course are determined by what is occurring in the market on the racecourse.
Immediately before a race, a betting market is formed. The total amount of money being wagered on a horse causes the price to move up and down.
Significant larger amounts, are signaled by tic tac between the rails, Tattersalls, the silver ring and bookmakers out on the course itself.
The level of this fluctuation within the market depends largely upon the strength of the market.
In the early stage of a betting market being formed, the prices are not generally decided by the amount of money wagered, but rather on what the larger...
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