Do you ever get a burning desire to start or do something? For example, something like “I want to be a bookie” might be crossing your mind more than three times a day, and you feel it is time to do it.
However, you are yet to take the first step leading you to your desired side job or full-time employment. With this guide, it should be easy to take those steps. We share actionable details to help you fulfill that I want to be a bookie desire as soon as you wish.
Find Where Being a Bookie Is Legal
Most states started legalizing sports betting after the U.S. Supreme Court overruled the Professional and Amateur Sports Protection Act of 1992 (PASPA). So, if you want to become a bookie, you must know the rules and regulations a bookie must follow in the jurisdiction you want to launch your business in.
A quick search on the internet can tell you what you need to do to launch your bookie in a specific region. You can also get a license from an offshore regulator or use a pay per head service and still get many bettors.
Find Whether You Can Operate Your Bookie Online
While the country has legalized sports betting, there are still several regulations bookies and gamblers must adhere to. For example, bookies are encouraged to adhere to the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA).
This motivates most banks to avoid processing transactions for gamblers and bookies, mainly if you are operating in a grey area. Usually, most sportsbooks partner with land-based casinos to offer gambling services online.
Unfortunately, not everyone can partner with land-based gambling facilities. This leaves you with hosting your bookie offshore or working with a pay per head to avoid laws such as UIGEA.
Find and Know Your Clients
One of the things that might be keeping your “I want to be a bookie” desire is finding clients. Attracting bettors to a betting platform is one of the most challenging tasks bookies face. While most people will advise bookies to start with their friends, it might not be ideal, especially when you want to remain anonymous.
Another problem you might be facing is huge competition from prominent sports. Most of these sportsbooks are well-established and can afford to give bonuses and ongoing promotions.
Meanwhile, you need clients for your betting services operations to kick off. Yet, it is likely that you cannot afford to offer bonuses to attract clients. This leaves you with one option, recruit your family and friends and hope they will refer their friends.
Once you get your clients, you need to learn more about each. If possible, you should create a personal relationship (not physically, they do not have to know your name or hobbies).
Knowing your clients will help you with customer satisfaction. You will learn what your clients love and want and provide it to them.
Learn which sports your clients love, how much they wager on different sports and the type of bets they prefer. This should help you manage your sportsbook better.
Remember, the best way to beat prominent sportsbooks is by creating a personalized experience for your players. In addition to great sports betting markets, you should be able to retain your clients.
Decide How Many Hours To Work
Engaging in bookmaking comes with inherent risks. You can’t simply initiate the business, step away, and anticipate it to thrive upon your return.
Vigilance is key: meticulous financial oversight, continuous assessment of inflows and outflows, and consistent growth tracking are paramount. Furthermore, the expansion of your clientele demands attention.
These vital endeavors demand a significant time investment. Thus, it’s essential to carve out intentional periods in your daily schedule, during which you dedicate focused hours to nurturing your bookie enterprise. A strategic plan for this allocated time is crucial.
For instance, setting aside two hours daily involves delineating how much time is devoted to marketing initiatives, scrutinizing records, orchestrating forthcoming tasks, and addressing all aspects of bookmaking. It’s prudent to allocate comprehensive attention to each facet of your bookie business daily. This proactive approach ensures you remain at the helm of your enterprise, proactively anticipate and mitigate risks, and chart a promising course for your business’s trajectory.
Make Sure You Have Enough Capital
Sufficient capital is a prerequisite for launching a bookie venture. The unfulfilled “I want to be a bookie” aspirations of some individuals often stem from a dearth of funds, relegating their dreams to mere wishes.
Yet, it’s important to recognize that venturing into bookmaking is possible even with limited initial capital. However, ensuring timely payouts to avoid disgruntled clients is crucial. Typically, many aspiring bookies tap into their personal bank accounts for startup funds.
While such funds might fall short, there are alternative avenues. Seeking financial assistance from friends or utilizing personal savings are viable options.
Nonetheless, it’s essential to manage expectations, particularly concerning the number of clients and the range of sports bets offered. Overextending could rapidly deplete funds. As your bookie business expands, reallocating a portion of profits to bolster your bankroll becomes instrumental. This strategic approach facilitates business growth by enabling the recruitment of more clients.
Ultimately, embracing a balanced approach to capital allocation ensures sustainable progress, permitting you to progressively scale your bookie venture and fulfill your ambitions, irrespective of initial financial constraints.
Select The Best Pay Per Head Software
You have four ways in which you can run your online bookie, including:
- Getting a license from your state’s gambling regulator
- Getting an offshore license
- Using a white-label solution
- Pay Per Head services
Among these options, pay per head services are the best and most affordable. Yet, you still have the responsibility of selecting the best pay per head provider. You need to look at the services and products the provider is giving and compare them to the fee.
Pay per head services are affordable, with prices ranging between $3 and $30. However, the cheapest package is not necessarily the worst or the most expensive. Therefore, it is crucial to look into what is offered to you before subscribing.
List down the thing you want your pay per head provider to provide. For example, you should ask for a website, sportsbook software, bet ticker, customer support, and other basic features. You might need to spend more to get the live betting feature, prop betting, casino, racebook, and other features.
Choose a Variety of Sports and Leagues
Having a variety of sports and leagues keeps things fresh on your platform. Each sport has its hot season followed by a long break. If you offered bets on one sport, your clients would remain inactive until the following season.
Meanwhile, you will not make a dime during the offseason, and your clients will find other bookies to place other wagers with. Unfortunately, they might not return to your platform once your sport’s season is on.
To avoid all complications, you can offer bets for various sports. Also, your bookie should feature different leagues.
So, once you get your pay per head bookie, activate the markets you wish to offer bets on. Find out what your clients love to wager on and ensure these markets are available.
I Want To Be a Bookie: Dream Come True
Finally, you can make your “I want to be a bookie” dream come true by launching your sportsbook. Start by creating players’ profiles. You can also provide your clients with a link to your platform and ask them to create their profiles.
Once they do, customize your offers depending on their needs. Impose bet limits and maximum payouts to control liability on your bankroll.
You can always edit the profiles to make players’ experiences better. If today feels like the best day to make your dream come true, contact Power Pay Per Head at 855-492-6007. Get a bookie website and software, and launch your services.
