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).
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.