Most people that bet on sports have at one point or another thought about becoming a bookie. There comes a time when you need to make a change in your life and if that change involves a change of career into the sportsbook industry then you will need this guide on How to be a Bookie for Dummies.
Of course, we are not saying you are a dummy; we are saying that being an online bookie is easy. From managing to marketing and all of the other fiddly bits, the world of bookmaking can be overwhelming. However, all you need is a little bit of knowledge, some seed money and the will to succeed. In addition,
These simple instructions will help pave the way for a smooth shift into the other side of sports betting. In addition, we have also included a bonus section on how to run a successful bookie operation. So without further ado, here is How to Be a Bookie for Dummies!
Get the Right Products and Services
Unless you intend to hang out at a street corner with pen and paper you will need a bookie website. The website will be where your bettors will place their bets and where you will keep track of the bets. In addition, your bookie website will also let you manage and analyze all of your players to maximize your profits.
Now, if you have a lot of money to invest, you can start from scratch. This can be done by buying software and hiring a lines manager and a customer service staff. However, there is a much easier way to be a bookie. It’s called the Bookie Pay Per Head Solution.
Using the Bookie Pay Per Head Solution
A bookie Pay Per Head provides you and your players a complete sportsbook solution without breaking the bank. This is because a Bookie PPH service gives you a full sportsbook software and website for only a few dollars.
For example, by using PricePerPlayer.com, the best sportsbook pay per head provider you only pay $5 per player every week. In exchange, PricePerPlayer.com will give you and your players the following services:
WHAT YOU GET:
- Easy to use player management system
- Set player limits and access
- Create and Edit your players
- Daily, Weekly and Monthly Player figures
- Intuitive and reliable reports
- And much more
WHAT YOUR PLAYERS GET:
- sports betting
- Live Betting
- horse racing
- digital casino
- live casino
- telephone service
In addition, you will not have to worry about any extra overhead cost like building and server space. This is because the PPH will take care of everything else like a fully trained IT staff, CS and more. In conclusion, a Bookie PPH is the complete solution for an easy to setup bookie operation because they do everything. The only thing you will have to worry about is acquiring new clients for your business.
You don’t need a banker or investor at the outset
Since you will be using a Bookie Pay Per Head Provider, the initial cost of being a bookie will be small. In addition, you will be able to control payouts because you will be the one setting wagering limits for your players.
Thus, consider your savings, investments and salable assets and you will see that you probably have enough to get started. If done carefully, you can be a bookie with as little as $500 if you only take small bets.
As your bookie business grows and becomes more successful, than you may want to consider expanding by getting an investor.
Tips for a Successful Bookie Operation
Know which hats you wear best
The advantage of using a sportsbook pay per head service is that you only have to worry about players. This means that your job is to find them, retain them, make them happy and collect money.
Profitability first and rewards second
First and foremost, being a bookie is being a business owner. In order to be a successful bookie, you must earn profits before you can earn the rewards from it. In addition, to understand profitability, you must first measure your cash flow and understand your key financial ratios.
Develop a Passion for Learning
If you want to have a successful bookie operation you must be able to adapt to different circumstance. As your online bookie grows, you need to change and grow with it. In order to do that, you must be able to learn and adapt.