Sports betting is a fun and popular hobby that millions of people around the world enjoy. This is because it gives more excitement to a sporting event while giving you a chance to make a profit.
As one of the fastest growing markets in the world, people are cashing in on the action by starting their own sportsbook. In this tutorial, we will teach you How to be a Bookie in 5 Easy steps.
Like any other business, being a successful bookie is about having customers, a great service and a good reputation. However, in this “how to” article, we will be going over the steps necessary to start a bookie business. Thereafter, it will just be a matter of acquiring players and keeping them happy.
Being a bookie isn’t all fun and glamour like you see on television shows and movies. It’s a job that requires dedication and basic knowledge of sports betting. From the different types of bets, to how lines are sets and how they move, you need to know it all.
You don’t need to be an expert, but just enough, so that you can properly run the business. Obviously, the more knowledge you have about the gambling industry and the competition the better. This is because it will help you make better decision when it comes to running your sportsbook.
For example, it is not necessary to know exactly how odds are set for different types of bets. However, you should at least know what they are and how to place a wager for specific types of bets. In addition, knowing the lingo is important because people will call you on it. Therefore, known the difference between a puck line and a spread betting is essential. (Yes, they are the same thing but the puck line is only for hockey)
In addition, having some general knowledge about finance, marketing and management will come in handy.
Videos to Help You Become a Bookie
Without proper research and planning, having a successful bookie operation is nearly impossible. This is because it is a crucial part of the process and will save you a lot of headaches in the future.
First, where will your players will come from? Different locations have different rules and regulations to abide by. In addition, knowing the sports betting market will determine the competition and future prospects of your business.
Second, what kind of sportsbook operation do you want? Will it be a sports betting only site or will you offer a variety of gambling options?
That kind of information is necessary for a proper sportsbook business plan.
Like any other business, you will need to secure enough money to get started. A good rule of thumb is to have enough money to cover unexpected gambling losses throughout an entire sport season.
The amount you need will depend on how you intend to manage your sportsbook. For example, if you have 10-20 players with a betting limit of $1,000 per bet, you will need at least $50,000 in capital.
On the other hand, if you give them a wagering limit of $300 or less per game, then the amount needed will be considerably less.
Check out our Sportsbook Revenue Calculator to help you figure out how much money you will need.
Now that you have the necessary knowledge and capital, it’s time to open your online sportsbook with PricePerPlayer.com. The best part about using PricePerPlayer.com is that you can start your Bookie Business in a matter of minutes and for as low as $2 per player!
Part of our Bookie Pay Per Head service includes: sports betting, live betting, casino games, a live casino, and a racebook!
First, go to www.PricePerPlayer.com and sign-up for a Bookie Pay Per Head Account. There is no upfront cost and the first 2 weeks are free!
Once you are signed-up, you get a complete bookie management system to operate a fully functional sportsbook. Plus, your players will get access to several sportsbook websites where they can place their bets right away.
The only thing you have to do, is create a betting account for your players.
From there, it is just about managing them. This includes deciding which gambling options to give them, setting their gambling limit and whatever else you decide.
Why Use the PricePerPlayer.com Bookie Pay Per Head Services
WHAT YOU GET:
- Easy to use player management system
- Set player limits and access
- Create and Edit your players
- Easily enable and disable player gambling options
- Daily, Weekly and Monthly Player figures
- Intuitive and reliable reports
- And much more
WHAT YOUR PLAYERS GET:
- Sports Betting
- Live Betting
- Player Prop Bet Builder
- horse racing
- Online Casino
- Live Dealer Casino
- Telephone and online Wagering
The last step is the easiest can be the easiest and the most challenginge one. The easiest because PricePerPlayer.com provides an Online Bookie Software with of the tools necessary to efficiently manage a sportsbook. Using these tools, bookies can increase customer satisfaction, track wagers, manage finances and maximize their profits.
However, it can also be the most challenging one as having the right tools can only take you so far. You will still have to put the work in to acquire new players and to retain them.
A successful bookie operation still needs to properly manage their players and keep them happy. Therefore, in the end it is all up to you.
As long as you properly manage your sportsbook and keep your players happy, the money will come.