Bookmaking is the art of setting down an amount to be bet upon an event, sport, or race and then paying the promoter (or bookmakers) for that amount. The word 'bookmaker' derives from the Latin books, meaning book. Today, bookmaking is a specialized area of banking and finance. In bookmaking, bettors place their bets in exchange for a fixed interest rate. The concept of bookmaking dates back to the fifteenth century when it was used to exchange grain for money as a way of trading. Keep reading this article for more info about bookmaking.
There are two types of bookmakers, namely the ones that accept wagers on sporting events and those that do not. In sports betting, bookmakers set down one thousand dollars in advance and guarantee to pay out an amount equal to the winnings or losing by the time the game ends. The sports book is open to all bettors who have an account and meet the minimum requirements set forth by the bookmakers. Prior convictions for felony crimes, such as theft, fraud, and prostitution are not accepted terms by most bookmakers. Learn more about bokmaking here.
The defendant is charged with felony charges in situations involving bookmaking if they knew or should have known that the bet would be lost and for knowingly participating in a gambling activity in which the value of the funds was greater than the stake or value of the item given away to the winner. The defendant may attempt to argue that their participation in the activity did not cause them to be aware that they were actually placing bets. However, the presence of knowledge is a critical element in this type of prosecution. In a case such as this, where there are prior convictions, the judge will usually require a pretrial hearing in which evidence of the prior convictions is presented by both sides.
Felony charges of bookmaking are difficult to prove, especially if there are no prior convictions. It is also more difficult to argue that the defendant did not know that they were participating in a criminal enterprise. In many cases, the stakes involved are very high, and the chances of being convicted of felony bookmaking are even higher. Because the stakes are high and the penalties even greater, criminal defense attorneys who are not retained by the bookmakers are often reluctant to work on these types of cases. This can create problems for the defendants and their lawyers, as well as any pretrial proceedings.
Federal and state law enforcement authorities have made it clear that they will aggressively pursue those who commit crimes related to bookmaking, whether the accused is a participant in the actual placing of bets or not. Those who knowingly misrepresent the results of any wagers face criminal prosecution. Additionally, individuals who commit fraud or attempt to defraud the public through false and fraudulent statements about the sports books may be prosecuted. If you are arrested or charged with this offense, it is important that you retain a competent criminal defense attorney who has experience in handling these types of cases. Discover more about bookies here: https://en.wikipedia.org/wiki/Bookie_(disambiguation).
If you have been charged with Bookmaking Fraudulently, if you are innocent, do not plead guilty until you have retained the services of an experienced and highly skilled criminal defense attorney. The charges filed against you may be dismissed if you retain an experienced attorney. Remember, if you place bets, you may be facing serious public exposure. If you are publicly identified as a bookmaker, you may also face criminal prosecution. Therefore, if you are charged with Bookmaking Fraudulently, you need the representation of a professional who knows all of the applicable federal and state laws and can fight your corner in court.
