Betting Firm Highlights Gambling Book Processes

Gambling firm gives an insight into when different markets have to be closed.

The winners of events such as the Oscars and the Booker Prize, which people now like gambling on, are often decided days before the news is announced, according to William Hill.

As a consequence, bookmakers need to be "careful" with these markets, often closing them earlier than other books, the gambling group states.

Jennie Prest, public relations manager at the company, indicates that there are often a number of reasons why markets are closed early.

"If [a market is decided] by a judging panel somewhere then they could have decided four or five days [before the award is presented]," said Ms Prest.

"Even when it seems like we are closing the books, there is a reason like that behind it."

Last October, the Gambling Commission's British Gambling Prevalence Survey claimed that there was a four per cent drop in the number of UK residents who gambled between 2006 and 2007.

Additionally, it found that 22 per cent of people from the UK made a bet with a bookmaker in 2007.