Bookmakers deal with betting slips and cash payments from, or to, customers. Duties include setting up the cash float and till whenever the betting shop opens for business. They also update and display race information.
Bookmakers take bets from customers in person. Bookmakers need to be able to answer any queries customers might have. When bets are received, the amounts are checked and the bets entered, along with other information, into a computer. In return the customer receives a receipt as proof.
If a customer wins, the bookmaker will pay the customer out immediately. In a horserace, a customer will bet, for example, R100 for a winning position on a particular horse. The horse's chances are measured by odds, for example sixteen to one (16-1), therefore, for every Rand the person puts down, R16 will be received if the horse wins, thus the bookmaker would need to pay out R1600.
Bookmakers check their records at the end of the day to ensure that their tills balance. Tele-betters place bets telephonically. The procedures are almost the same, but customers are not dealt with face-to-face.
Satisfying Aspects
- meeting all kinds of people
- sharing in the excitement of various races, particularly if the stakes are high
- the possibility of fair financial rewards
Demanding aspects
- standing nearly all day
- knowing that very large amounts of money can be lost in a short space of time
- non-payment by tele-betters
Requirements
- at least 18 years of age
- friendly and helpful
- enjoy working with people
- able to work with money (balancing)
- good communication skills
- not afraid to lose money
- enthusiasm and good sportsmanship
- good knowledge of field in which bets are taken
School Subjects
No specific level of schooling is required, however most employers prefer at least Grade 10 certificate
Compulsory Subjects: None
Recommended Subjects: Mathematics, Accounting
Training
In-service training can be undertaken, under the supervision of an experienced bookmaker. A general knowledge of computer and horseracing, for example, is a pre-requisite.
Employer
- bookmakers
- self-employment
Contact
Any reputable bookmaker