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 that 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 that wants to place a bet for National Basketball Association (NBA) while grading a bet for another who wagered on 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 with a PPH platform is easy. All you do is sign up with your platform provider, and your betting platform is ready. Moreover, you do not need upfront start-up capital.
Suppose you want to work with Power Pay Per Head. The brand will start you off with a six-week free trial period. During this time, you can offer sports betting services to your clients without paying the weekly fee.
With PPH services, everything is ready-made. For starters, you will get a customized betting platform.
Secondly, the betting site will have all betting options, including markets in the country and outside. The lines and odds are set for you, tickets are graded on your behalf, and so much more.
A PPH service also has a 24/7 customer support line for your clients and bookie operators. Whether at night or day, you and your clients can get the assistance you require. Meanwhile, you can forget the late-night calls from people wanting to place bets or complaining about not receiving their winnings on time.
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 bet on the NFL each season. If you decide to offer these sports, some of the $100 could go to 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 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 handle 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, 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.