Concepts, signs and types of bookmaking activity

Abstract

The paper notes that sports betting has been popular since the days of Ancient Rome. Fans would place bets on their favourite player or team, and if they won, they would receive a prize. It is worth noting that not only the Romans were known for their love of gambling, it was also popular in ancient Egypt, China, Japan, and India. In many cases, gambling was regulated or banned depending on the cultural and moral values of the society. The legacy of the love of gambling can be traced even today in various types of activities. The paper provides a detailed analysis of scientific and legislative approaches to the definition of the concept of "betting activity". Based on the results obtained, the author proposes his own definition, according to which: "bookmaking activity is the activity of organising and conducting events in which a player bets on the outcome of events that are to take place and the outcome of which is difficult to predict, and the organiser of the game (bookmaker/bookmaking organisation) undertakes, in case of winning, to pay the players an amount that depends on the bet made by the player". The paper also identifies and analyses in detail the signs of bookmaking activities. The main features are as follows: 1. The purpose of the activity is to make a profit; 2. The content of the activity is the provision of services for organising and conducting betting; 3. Obligatory availability of a permit (licence) to conduct such activities; 4. Risky nature. Special attention is paid to the study of the subjective composition of legal relations. The concept and characteristics of players and organisers of betting activities are studied. As a result of the study, the author concludes that betting activity is a special type of entrepreneurial activity which has its own peculiarities, taking into account the specifics of its implementation.