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Mathematics of bookmaking
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<p>In <a href="/facts/Gambling/Hgw4a9DH">gambling</a> parlance, making a book is the practice of <a href="/facts/Betting_exchange/aBjrKclr">laying bets</a> on the various possible outcomes of a single event. The phrase originates from the practice of recording such wagers in a hard-bound <a href="/facts/Ledger/MtxtsquH">ledger</a> (the "book") and gives the English language the term <a href="/facts/Bookmaker/CdQd2h2D">bookmaker</a> for the person laying the bets and thus "making the book".: 6 : 13, 36 </p>