A "nhà cái" in English is referred to as a Bookie. They are organizations that provide odds, handicaps, and payouts to the winners while taking a percentage of the bettors' money. All of these are based on outcomes in sports (mostly). Although the term "nhà cái" may sound like a big entity, it can sometimes just be an individual with a lot of money who wants to "rent out" their funds to profit from gambling enthusiasts like yourself. However, not everyone becomes a successful bookie when encountering skilled gamblers, and in such cases, the bookie can go bankrupt with just one direct hit.
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How does a "nhà cái" operate?
Some bookies specialize in other products such as casinos, shooting fish games, slot games, lottery, and more. A bookie can either focus on one specific product or offer a variety of products. It's important to note that bookies are considered illegal in some countries, including Vietnam.
Sometimes, a small bookie with limited financial capacity acts as an intermediary between the players and a larger bookie (referred to as a bookmaker). Their sole task is to guide players to the odds offered by the larger bookie and earn a commission based on the difference.
In terms of operational structure, a bookie is quite similar to a company and may have the following departments:
Financial Department: Responsible for receiving and paying out money to players.
Marketing Department: Promotes the bookie's brand to the community.
Customer Service Department: Often referred to as CS (Customer Service), handles customer-related issues.
Moreover, larger bookies may have specialized departments such as:
Telesales Department: Focuses on making direct calls to customers and introducing products.
Technical Department: Verifies customer data, equipment, and IP addresses.
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What types of bookies are there?
Bookies can be divided into two types, which are slightly different but relatively similar:
Black market bookies: These are unlicensed bookies operating in an underground manner, and their payout rates are not guaranteed. The odds can vary depending on the bookie's discretion. There is a relatively high risk of financial loss when participating in such activities since they are illegal.
Legal bookies: These are bookies with clear headquarters and licenses issued by reputable gambling regulatory organizations such as the World Gambling Organization. Payouts from these bookies are fully guaranteed and transparent.
In conclusion, whether a bookie is good or bad, fraudulent or legitimate, depends on the perception of the players. Most reputable bookies have legitimate licenses and are regulated by trustworthy monitoring organizations, making it unlikely for them to engage in fraudulent activities. The main issue is that players often fail to recognize their own rights at these sports bookies, leading to varying individual experiences.