Agent:
Someone who gets players to play. Usually was a bookie in the past and finds it easier to use an online site than deal with recording all their plays on the phone.
Many agents use more than one book.
Agents offer their players credit (They set an amount and the book is told this amount)
Agents are given a certain amount of credit by the book. (Varies and goes up over time)
Agents often use more than one book - offering players a couple choices (Some players like this interface, some like other interface, etc)
Agents find players, and tell give their players a credit account at the book.
Players bet at the book. (Online or on the phone) Agent no longer has to deal with answering the phone and recording bets. Agent can see all the bets under his name at the book.
Every week or month or whatever, agent settles up with the book and his players.
Agents either pay the book a price per head or a small percentage of the total wagers.
Agents take a lot of risk just like a bookie - agents can be arrested just like a bookie.
Affiliates:
Refer people to various online books. Affiliates post banners, links, send emails, etc.
Book pays affiliate a percent of the post up or a percent of the losses over time depending on affiliates choice and depending on the book.
Affiliates have no financial risk, but gain is far more limited.
Affiliates likely can not be arrested (Although only time will tell if the US ever goes after one - they put some heat on Google and Yahoo to stop advertising books) MOst likely a case would end up a debate of constitutional free speech and advertising.
-Sean
