A “bookmaker” or “bookie” is a person or company that accepts and manages bets on sporting events and other outcomes. Bookmakers typically offer odds on a variety of events, and they allow bettors to place bets on the outcomes of those events. Bookmakers make money by charging a commission or fee on the bets that they take, and they also earn a profit if the bets that they pay out are less than the bets that they take in. Bookmaking is a popular and profitable business, and it has a long history that stretches back to the early days of organized sports. In some countries, bookmaking is legal and regulated, while in others it is illegal.