Do you have what it takes to become an online bookie agent? Being here reading this article answers your question. However, that is not enough; you will need this guide to launch a successful bookie.
We promise to provide value. For starters, you cannot settle for being just a bookie. You need to become a legal bookmaker, have enough money in your reserve, possess the skills to run a bookie and know how to launch your business correctly.
We will cover these details in length below. This article acts as a guide to becoming a legal online bookmaker.
What You Need to Become a Bookmaker
Bookmaking can indeed be a daunting endeavor, encompassing numerous responsibilities. From overseeing your books and clients to securing funding for operations and attentively addressing client concerns, the tasks can seem overwhelming. If you lack the essential skills and knowledge required to effectively manage a bookie business, you may find yourself feeling frustrated and disheartened.
Thankfully, there is a path to acquiring the requisite skills and knowledge to proficiently operate a sportsbook. Below, we outline the key attributes necessary for becoming a successful bookmaker.
1. Sales and Marketing Skills
Your potential clients likely have limited or no knowledge about your services. Therefore, it’s imperative to engage in marketing efforts to make your presence known and attract clients to your business. You can opt for traditional marketing strategies, such as door-to-door outreach, where you personally persuade clients to choose your services.
Alternatively, you can embrace more contemporary marketing approaches like social media advertising and Search Engine Optimization (SEO). Effective marketing demands a range of skills, including creativity, research abilities, critical thinking, active listening, and strong communication skills.
By honing these skills, you can discern the needs and preferences of your target clients, tailor your services accordingly, and effectively convey the value of your offerings. This enables you to successfully engage with potential clients, showcase your expertise, and encourage them to avail themselves of your services.
2. Customer Service Skills
What does good customer service look like? As a person seeking customer service, you want to meet a friendly and professional agent. The agent should be able to listen and give good solutions.
Similarly, you must have good customer service skills. You will probably partner with a pay per head shop to provide customer support, among other solutions.
Yet, you will still communicate with clients during recruitment. You must have good customer service skills to communicate and convince new clients to use your service.
3. Mastery of Psychology
This does not mean taking a degree in psychology. It means having a basic understanding of why people do the things they do. For instance, why would a German resident wager on Germany over the USA?
Professional bettors rely on data to place bets. However, novice and casual bettors rely on their emotions to place bets. They wager on a specific team because they are avid supporters.
They do not care whether one team is qualified to beat the other. Instead, they trust their favorite player will save the team and win the match.
You can use this information to your advantage. You only need to understand why bettors would rather wager on one team over another and design the odds to their disadvantage.
4. Some Math Knowledge
You also must know some mathematics. Learn how to do basic additions, subtractions, and probability.
Partnering with a pay per head site will save you from doing complicated mathematics such as creating odds. But, it would help to understand how oddsmakers came up with specific odds.
This information can help you know how much you might make from a single match. You can also use this knowledge to confirm the correct payout for your clients.
It will take a lot of patience to grow your bookie from the ground to the level of William Hill, DraftKings, Caesars, Wynn, FanDuel, and other sportsbooks in the country. You might give up after a while. However, you need to constantly remind yourself that running a bookie is a journey that requires patience.
If you want to launch a state-wide sportsbook, you have to start somewhere. Your capital will grow, and you will be able to establish a bigger legal sportsbook.
6. Enough funds
Lastly, you need funds. Starting and running a bookie requires money. The amount should be enough to source the right elements, including a website and sportsbook software, and market your service.
Having insufficient money might be disastrous. You might launch your business and lack enough money to run it.
Fortunately, you only need a fraction of the amount you can use to launch a conventional sportsbook to become a pay per head bookie agent. You can get enough funds to pay the overhead fee for several weeks and your bankroll.
Choosing Which Route to Take to Launch Your Business
The best thing about being a bookie is you have several ways to launch your business. Here are three primary ways to become a bookmaker.
1. Independent vs. Partnership
An independent bookie is a business where you are the sole owner. You can launch a conventional sportsbook like FanDuel or partner with a pay per head site. Partnering with a site does not make you any less independent.
The site only provides the solutions you need to run a bookie successfully. It will cost you less money and complications.
Another way is partnering with an established bookie. Some bookies run their services during specific seasons. They are a significant number of clients.
You can partner with such bookies to offer betting services in exchange for sharing your profit. If finding clients is an uphill task for you, you can partner with another bookie with enough clients.
2. Credit vs. Postpaid
You also need to decide whether to become a credit or postpaid bookie. Credit bookies used to be popular years ago. Some bookies still use this model to attract clients.
Ideally, this bookie allows bettors to place bets on credit for a week or a month. After that period, the bookie calculates how much the bettor has won or lost. Either the bookie or the player will pay the difference depending on who lost money to whom.
You can become a credit bookie if your clients are close friends or trustworthy clients. It is the quickest way to grow your wealth.
Usually, people are likely to spend more on credit than real money. As such, you can turn this to your advantage.
Alternatively, you can become a postpaid bookie. If your clients are strangers, you have no option but to become a postpaid bookie. Here, clients will deposit their funds before wagering and receive their winnings after.
It would help if you processed players’ winnings immediately too. Otherwise, you will destroy your reputation.
3. Master Agent
How much do you want to get involved in running a betting business? Some people like to remain under the radar. You might not have time to run a bookie, but you have other resources.
As such, you can become a master agent. You need several sub-agents that will handle the day-to-day operations.
Your pay per head service provider will individualize each agent to ensure no mix-up in funds. That way, you can know which agent performs well or loses money.
Your role will be to manage sub-agents instead of handling hundreds of clients daily. You can use reports to analyze the business.
Step-By-Step Guide on Becoming a Bookie Agent
The actions you undertake when launching your betting business can significantly impact your overall success. While shortcuts may seem tempting, they could lead to substantial financial losses due to the omission of essential steps.
This comprehensive step-by-step guide is designed to steer you away from failure. By following these carefully outlined steps, you can ensure a smooth and successful launch of your bookie business, minimizing the risks associated with hasty shortcuts.
1. Find Whether It Is Legal to Start a Bookie
Each state has gambling rules. Gambling can be legal or illegal. For instance, gambling is legal in New Jersey, New York, Nevada, Virginia, and over 30 other states. Gambling is illegal in Utah, Texas, and several other states.
It is easy to run a legal gambling service in a state where gambling is legal. You only need a license and other permits. Unfortunately, not every bookie can afford the license or can be the highest bidder for the operating permit.
Meanwhile, launching an illegal gambling service is like putting a finger in a bee’s nest. It will not end well for you.
Yet, this does not stop bettors from wagering. You can host your bookie website overseas to avoid breaking state laws.
You can also use pay per head services. Is pay per head legal?
The sites offering pay per head services are legal. They might be based outside your country. However, they have licenses to provide bookmaking solutions for bookies globally.
These sites do not operate inside your state. As such, they are not breaking any laws. Instead, they host your bookie website in other areas, including Costa Rica, where your clients can access and wager without violating state laws.
2. Understand the Gambling Market
The second step is to understand the gambling market. There is sports betting, casino games, poker, bingo & lottery, and esports.
The overall gambling market is worth over $100 billion. This makes it a lucrative industry. However, you must narrow your options to a specific betting market.
You can focus on sports betting and offer other forms of gambling as a side hustle. It would help if you considered your target clients when choosing what to provide them with. This will also help you create the right marketing strategies.
3. Shop for the Best Pay Per Head Site
There are several advantages to partnering with a pay per head site. For starters, you will use a fraction of the capital. Secondly, you will work with industry experts to run your bookie.
Shopping for a pay per head service provider is a crucial step. You must apply your research skills; otherwise, you will end up partnering with a substandard site.
You might not know what to look for. So, here are the characteristics of the best pay per head service provider.
- Free trial period
- High-quality, user-friendly website
- Top-notch security
- Unmatched customer service
- Sportsbook software with regular upgrades
- Safe and convenient payment methods
- Several add-ons, including a casino, racebook, and esports platform
- Live betting feature
- Quality betting lines and sports markets
A site with these qualities guarantees a successful bookie launch. These features benefit bookies and bettors.
It is also crucial to consider the overhead cost. Avoid the cheapest pay per head site as it might not meet the needs of a modern bookie and players.
4. Ensure You Have Enough Money
You need money to make money. Your pay per head site agent can guide you toward deciding how much you need to launch your bookie. You can consider the overhead fee and operating costs.
Suppose you want to start with ten clients. You will need a smaller money reserve than a bookie with 30 clients.
The best thing about being a bookie is that you will make good profits. You can earn 5-10 percent of the total wagered money in a month. You can use this money to grow your bankroll and increase clients with a Bookie Agent.
5. Grow Your Client Base
The other step is growing your client base. This is an ongoing process. However, you need a few clients before you launch your services.
There are two ways of building a client base. First, you can enroll your circle of friends and family. You can also recruit classmates and college mates to wager to place their bets through your platform.
The other way is to recruit strangers. Some have never wagered.
Therefore, you must give them a good reason why they should start betting with you. You can also target clients looking for bookies on different social media pages.
6. Allocate Time to Run Your Bookie
If you want to grow your business, you must allocate enough time to build it. The amount of time you give your business depends on various things. For example, if you are in the middle of a busy American football season, you must dedicate more time to running the business.
You can spend 2-4 hours weekly when starting. However, you will need to dedicate more time to your business when you have more clients.
You might also need extra hours based on your goals. For instance, if you plan to recruit 20 new clients weekly, you will spend more time on your business than a bookie agent looking to recruit five clients weekly.
7. Launch and Manage Your Bookie
The last step is to launch. This is followed by managing your bookie.
Usually, pay per head sites set up your betting platform in minutes. Unless you want your site customized, you can launch your platform in less than ten minutes after contacting the provider.
Find managerial tools on the agent’s dashboard and customize the setting accordingly. Set the minimum and maximum wagers, deposits, withdrawals, and odds. Use the reporting tool to guide you further.
What Are the Advantages of Becoming an Online Pay Per Head Bookie?
Are you still wondering why you should become a bookie? The following are the top advantages of becoming a bookmaker.
1. Business Growth
Becoming a bookie with a pay per head site immediately expands your horizons. The possibility for your business growth suddenly increases.
The best part is that you will not need much money to facilitate business growth. In fact, you will require little resources and energy compared to a conventional bookie.
The pay head site focuses on running the business while you focus on growing it. Interestingly, you will still keep all the profits.
2. 24/7 Phone Coverage
Do you know how much sleep you need every day? Unfortunately, you might not get enough rest if you take calls from your clients 24/7.
3. Convenient Betting for Your Players
You can go door to door, reminding your clients to place bets. Alternatively, you can provide your clients with a convenient betting platform.
Today, clients prefer to log in to their online accounts and browse for betting lines to place bets rather than coming to your backyard. You can provide your clients with a URL to your betting platform, which is more convenient than other options.
4. Earn Money From Anywhere
There is always a holiday to look forward to every few months. If you are running an offline bookie, it means never traveling or taking vacations from time to time.
You can run an online bookie website from anywhere. You can join your family as they take a vacation and engage in other fun activities without affecting the everyday operations of your business.
Launch Your Pay Per Head Betting Site
Anyone planning on becoming a bookie agent needs the right skills and resources to launch successfully. People who fail to follow the proper procedure and tips often fail. This can cost you a lot of money.
Following this guide to the letter is necessary as it provides valuable information on what you need to do and avoid to launch a successful business. Considering the demand, you stand a chance to make good profits. However, many other bookies and sportsbooks are offering the service.
You can only stand out using the best pay per head service provider like Power Pay Per Head. The site will launch your site in less than five minutes. An agent will also be allocated to you to help customize different settings.