The Bookie is an area of the Casino. At the bookie, you can bet money on games from various sporting events to special events like the Royal Wedding and X Factor evictions.
The bookie works with a system of odds that gives higher rewards for betting correctly on a competitor that was not favored to win. Basically, the team or competitor that is likely to win has better odds, and will pay less for correctly betting. The team or competitor that is least likely to win has the worst odds, but will pay much more for betting on it and winning.
Understanding handicap bets
Sometimes when a team/player is so heavily favoured then there will usually be a Handicap placed on it (sometimes shortened to H/C) this means that the team less favoured to win are given an advantage to help balance out the result and (hopefully) make the betting more interesting.
Team A (-1)
Team B (+1)
In layman terms, this means at the start of the match/race Team B has a 1-0 advantage automatically.
Team A can only win the bet if they win by 2 or more goals/points.
Team B can win the bet if they either win or draw (as they already have the 1-0 advantage at the start of the match/race)
Handicap draw will win if Team A wins by just 1 goal/point.
Sometimes in the bookies you will see handicaps of -3.5, this means that the team who are the favourites will have to win by 4 or more.
Team A (-3.5)
Team B (+3.5)
Team A can only win if they win by 4 or more goals/points.
Team B can win if they draw or are up to 3 goals/points behind
As .5 in sports is very rare and only used in a minority of sports these type of handicaps never have a draw option.
In some cup competitions (mainly in soccer (US), football (everywhere else)) where extra time can be involved, if there is an option for a draw then that means only the score up to the regulation time counts. Extra time does not factor in these games. If, however there is no option for a draw then the winner is the one who wins the game at the final whistle(whether it be in regulation time or extra time).
Extra time clarification
A source of confusion that crops up often with players new to the bookies is what counts as extra time, especially in football. Hopefully this will clear things up for those who don't fully understand.
(I'll be using football (soccer) as my example but this can happen in other sports, so beware.)
In football there are two types of extra time. The first example is what the referee adds on at the end of the 90 minutes due to injuries, substitutions...etc. This will usually be between 1-5 minutes and counts towards the 90 minutes. If a player scores in this time it will still count as 90 minutes.
A game is drawn at 1-1, you have bet on Team A to win. Team A scores in the 93rd minute. You win your bet. (League games)
The other type of extra time is mainly used in cup competitions during the knock-out rounds. Extra time in this instance is an added 30 minutes play but does NOT count towards the 90 minutes for your bet. If there was a DRAW option for this bet then the draw is the only bet that will win as this instance of extra time doesn't count towards the 90 minutes even if the team you bet on do go on and score in the extra 30 minutes of play to win the game. Think of the 30 added minutes as a separate game. AKA get scammed like I did because you were unaware of this BS.
A game is drawn at 1-1 after 90 minutes and whatever few minutes the referee adds on, you have bet on Team A to win. There has been 30 extra minutes added to the game to decide a winner. Team A scores in the 105th minute and wins the game. You lose your bet as the game ended in a draw at regulation time. (On some sporting sites they use the term AET to denote the added extra time of 30 minutes)
If you are still unsure then hopefully just remembering that in ordinary league games there is no 30 minute extra time involved so you will not have to worry about whether a goal affects your bet if someone has scored in the 94th minute.
Claiming your winnings
Whether you get lucky or unlucky in the bookies you will usually have to wait up to 24 hours for the event that will tell you that you either have won or lost the bet and how much you have won (if you have won your bet).
As of 15th Jan 2013 your winnings will be given to you in the form of a cashier's check which will give you 24 hours of protection before it is automatically credited to your account. You can claim your winnings before the 24 hours is up by going to the City Bank and withdrawing it there.
Good luck with your bets. A few extra tips;
If you can't afford to lose it then don't go all in on a 'certainty' as there is no such thing. Surprises can happen after all. Many have lost billions down to shock results.
You can follow tipsters but the decision at the end of the day is down to you so don't go blaming them if it all goes wrong.
If you see an error in bookies then let bookie staff know rather than exploit it as the bet will only get deleted and you will have lost out on an opportunity to make money. (You can find bookie staff by looking in the Staff listings or you can go to irc #help)