- The receiving from several persons of wagers on the same sporting event, more often than not a horse race, the odds having been calculated beforehand by the bookmaker, and the total sum received by way of the wagers to be given to the winner, subject to a deduction of the bookmaker's commission. Anno: 96 L Ed 317. Tickets are given the persons who make the wagers in evidence of their selections and of their interest in the total sum or pool received from all persons betting on the particular event, according to whether they win or lose. 24 Am J1st Gaming § 24. Bookmaking is a form of gambling and, as such, illegal under the statutes of most jurisdictions, except as legalized in reference to particular events, such as horse racing and dog racing.
Ballentine's law dictionary. Anderson, W.S.. 1998.