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
Being a bookie is a risky business. You cannot launch it, take a break from looking into it, and expect to find it afloat when you return. You need to keep track of your finances, follow what is coming in and going out, and track your growth. Moreover, you need to acquire more clients. All these activities need your time. Therefore, sit and deliberately dedicate a few hours each day to work on your bookie business. Create a plan on how you will use this time. For example, if you dedicate two hours daily to work, indicate how long you will use to market your services, analyze records, organize future tasks, and everything about bookmaking. Ideally, you should give every detail of your bookie some attention each day. That way, you remain ahead of the business, foresee risks, prevent them, and decide the future of your business.Make Sure You Have Enough Capital
You need enough money to start a bookie. In fact, lack of enough capital is why some people’s “I want to be a bookie” dream remains as such, just a dream. You might not realize that you can still become a bookie even with limited capital. Yet, you cannot keep your clients angry for not receiving their winnings on time. Usually, most bookies source their start-up capital from their bank accounts. The funds might not be enough. So, you might want to borrow some money from your friends. If this does not sound like a good idea, you can still use your savings. However, you cannot work with many clients or offer bets on all major sports because you can drain your account in days. As your business grows, you can add some of the profits to the bankroll. This will help you expand your business by recruiting more clients.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
