The very concept of "bookmaker" came from the English language. This was the name of the person who set terms for a bet, accepted the bets and paid the money to the winners. The first bookmakers appeared on the racetrack, but over time they began to accept bets on sports, political, cultural and social events.
Now bookmakers are called both companies that accept bets and pay out winnings on them, and people who professionally set the odds and form the pre-match.
Many people view bookmakers as mysterious characters who know something the others do not and form the pre-match in such a way that it is impossible to beat them. Alexey Khobot, Fonbet Chief Expert, speaks about the important qualities of a bookmaker, why some cannot handle their job, and whether bookmakers place bets themselves. Not only did Alexey Khobot create the first software for Fonbet in the 1990s, but he was also responsible for forming pre-match back then.
Alexey Khobot says that bookmakers need many qualities similar to those the professional athletes have. "What are the key qualities in a bookmaker? Be experienced, intelligent, have a mathematical mindset. He must be interested in self-study, be able to draw conclusions from defeats. Psychological stability is also important. It is crucial to not lose self-control. Anything can happen - from losses to unlucky and badly timed goals. Some cannot handle the stress and too much responsibility. Therefore, I put psychological stability in the first place”.
A lot of people wonder if a bookmaker can place bets too."A bookmaker who has never placed a bet is not a bookmaker. Betting experience is crucial" - Alexey Khobot states. "I actually think it is a good thing that bookmakers place bets too. This way they keep themselves in good shape and stay aware of all the events".