Are you thinking about joining the sports betting industry not knowing how to become a bookie? Being a bookie is one of the most innovative high-tech industries in the USA. Therefore, it makes sense why you want to enter the $102 billion yearly industry.
If you have watched films featuring a bookmaking scene, you have seen how shady traditional bookies look. They are run illegally among a specific group of people. They have all the characteristics of a backdoor business.
However, that is no longer the case. Today, bookies are legit businesses in the limelight, and there is nothing wrong with becoming one. Yet, you might not know how to become a bookie, which is why you are here.
Luckily, this article covers every step you need to take to become a bookie. By the time you finish reading, you will have all the knowledge you need to launch a bookie.
What Is A Bookie?
Before you proceed, you need to understand who is a bookie and what he does. First, a bookie is someone who takes bets from bettors.
Traditionally, you would be going crazy at the moment trying to track all bets made through you. You could be on the phone with someone who wants to place a bet for National Basketball Association (NBA) while grading a bet for another who wagered on the National Football League (NFL).
Usually, you will find various leagues at the center of the finals. This means you are busy working on your bookie, and your schedule is fully booked to even spend time with your friends or family.
Thankfully, another industry has been gaining popularity for the past few years. The pay per head (PPH) industry is taking all the needs of a bookie into books to design software that automates most bookmaking processes. This software simplifies how to become a bookie in 2022.
Before the software, bookies had to grade tickets every night, create odds, keep up with changes to adjust the lines, and do many other tiring processes. In fact, they had to wait for the last-minute bettors.
However, these processes are now automated with the pay per head software. When you launch your bookie with the software, players can place bets individually on their respective player accounts, bet last minute, deposit their funds, withdraw their winnings, etc. As for you as the operator, you can manage your players, track steam bets, reduce your bookie liability, etc., at ease.
What Will The Pay Per Head Do For You?
Launching a bookie business using a PPH platform is a straightforward process that offers various benefits. When working with a platform provider like Power Pay Per Head, you can enjoy a seamless experience and several advantages without the need for upfront start-up capital.
With Power Pay Per Head, you have the opportunity, to begin with a six-week free trial period. This means you can provide sports betting services to your clients without paying the weekly fee during this initial period.
Utilizing a PPH service provides you with a ready-made solution. Firstly, you gain access to a customized betting platform tailored to your specific needs and preferences. Secondly, the platform comes equipped with a comprehensive range of betting options, both domestic and international. Lines and odds are already set for you, and ticket grading is handled on your behalf, among other features.
Additionally, a PPH service offers 24/7 customer support for both your clients and bookie operators. This ensures that assistance is readily available whenever it is needed, eliminating the need for you to handle late-night calls from individuals seeking to place bets or addressing complaints about delayed winnings.
By leveraging a PPH platform, you can streamline your bookie operations, enhance the betting experience for your clients, and focus on growing your business while leaving technical and support aspects to the experts.
Deciding What To Offer
Another step you cannot leave out when learning how to become a bookie is identifying what you will offer to your players. Before making this decision, consider your potential clients.
Yet, there are some sports you must offer. For example, some statistics show over $100 million is a bet on the NFL each season. If you decide to offer these sports, some of the $100 could go into your pocket.
If you are starting a bookie while still in college, consider including college football leagues on your betting platform. That way, you can offer a sports betting market that college students are interested in.
Soccer is another sport you should offer. While it is not the most popular sport in the USA, a significant number of fans could bet on it. Moreover, if you plan to offer your services to players based elsewhere, you must include soccer in your bookie.
Other sports you need to consider include:
If you offer at least the above five sports, you are sure to take action throughout the year. For example, Major League Baseball runs from March or April to September or early October. The sports draw a huge following from North America; thus, you need to ensure bettors in those regions can access you.
As for basketball, it starts in mid-December and runs through July. One of the most popular leagues you must include in your offering is the NBA featuring 30 teams and 70 games.
Most Hockey games occur between October and April. Notably, there is a major sport going on at any time of the year. If you include all these markets in your bookie, you can trust to get a consistent income throughout the year.
Sports is not the only thing you should offer. For example, horse racing betting still has a huge fanbase. You can take advantage of that by including a racebook platform on your bookie.
The other option is a casino and live casino. From slot machines to table games, you will find many punters wanting to play casino games. With all three betting platforms, you are sure of continuous revenue generation throughout the year.
How Much Will It Cost To Run A Bookie?
Setting your pay per head bookie is not expensive. Once you contact your provider, you will get several templates to choose from for your ideal betting platform. With this, you can start offering sports betting instantly.
However, if you want a custom platform, you have to wait a few hours to several days, depending on your preferences. Suppose you are using the Power Pay Per Head software. You will get several weeks of a free trial.
After that, you can pay for the service. For example, you can pay $10 for each player every week.
So, if you have ten bettors each week, it would cost you $100 to continue getting the pay per head services. Remember, this cost covers the betting lines, customer support, and every other feature and tool included on the platform. Ideally, you do not have to pay extra for you to manage your bookie.
Moreover, the juice you are getting from bettors is enough to cover your players’ weekly fees and retain some profit. Considering your bookie is offering every reason your bettor needs to place bets, you can collect a lot of handles and juice. That way, you have enough to pay your running costs.
Advertising Your Business
The only way your bookie will make money is if bettors are placing bets. First, you must have these clients.
You can get clients by advertising your bookie business because people can only know about it if you tell them. With a quality pay per head bookie in your pocket, marketing your business should not be a problem.
Start by telling your friends and family about your bookie. Then, ask them to refer you to their friends. Soon, the word will spread about your business, and start seeing some join your platform.
Considering you are an online platform, do not be limited to your immediate circle. Instead, start advertising your business online. You can apply social media marketing strategies, SEO, and online marketing.
Securing Your Bookie
Online betting platforms must have top-drawer security measures to protect bettors’ data. This should not be an issue if you are dealing with a reputable pay per head site.
However, we are referring to reducing your bookie’s liability, hence securing its future in the industry. There are several ways of securing your bookie, including;
- Setting bet limits
- Setting maximum payout
- Using a layoff account
The first two are easy because you do them from the administration account. Here, you can look at a player’s betting history and apply limitations.
For example, if a bettor wins more than loses, you need to be wary of your bankroll. Therefore, implement a limitation to prevent the bettors from depleting your bankroll.
The other step is to use a layoff account. One of the tools incorporated in the best pay per head alerts you of Steam bets.
When it does, you need to log in to another sportsbook and place a similar bet. The winnings you get should cover the money you need to pay the winners on your site. If you lose the bet, so do those who made steam bets, canceling your lost money.
Are You Ready To Start?
This article covered how to become a bookie in 2022. It discussed everything you need before and after you launch your bookie. With this information, you are ready to start and run your bookie successfully.
At Power Pay Per Head, we will help you with fine details. We will help you choose a template, choose bet markets, move your players on the platform, and start taking action. Contact us today and get a free six-week trial period without an upfront fee.