Pronunciation: [mˌe͡ɪd bˈʊk] (IPA) 
The correct spelling of "made book" is "makebook". This is because "make" and "book" have been compounded into a single word. In IPA, "makebook" is transcribed as /meɪk.bʊk/. The stress falls on the first syllable, which is pronounced as "mayk". The second syllable includes the vowel sound "ʊ", as in "book". This spelling demonstrates how words can be combined to create new words that have a distinct meaning and pronunciation.
Made book refers to a term commonly used in gambling or sports betting contexts. It is used to describe a record maintained by bookmakers or bookies that contains the details of bets placed by gamblers or punters. A made book effectively represents the bookmaker's liability and serves as a record to ensure accurate and fair settlement of bets.
The process of creating a made book involves accepting wagers on various outcomes of a particular event, such as a sports match or a horse race. Bookmakers evaluate the probability of each potential outcome and prices or odds are assigned accordingly. The made book is then generated, listing the specific bets made by individuals and the corresponding odds offered.
The made book provides crucial information for the bookmaker to manage their risk effectively. By analyzing the distribution of bets across different outcomes, bookmakers can attempt to balance their exposure and determine the ideal odds for maximizing profits. It allows them to assess potential losses or gains and adjust odds or limits accordingly.
The made book is dynamic and constantly updated as more bets are placed. It facilitates monitoring the overall liabilities and probabilities associated with each outcome. At the end of the event, the bookmaker settles the bets according to the results and pays out the winnings to successful bettors.
In summary, a made book is a record of wagers placed by bettors with a bookmaker, enabling them to manage risk accurately and settle bets fairly.
