bookmaker

is an organisation or a person that takes bets and may pay winnings depending upon results and, depending on the nature of the bet, the odds. Bookmaking may be legal or illegal, and may be regulated; in the United Kingdom it was at times both regulated and illegal, in that licences were required but no debts arising from gambling could be enforced through the courts. Bookmaking is generally illegal in the United States, with Nevada being a notable exception.