What is a bookie? You must have thought of an answer to this. You were probably wrong or right, as we are about to find out.
The sports betting market has crossed the billion-dollar mark, making it one of the most coveted industries. As a gambler, you can join it today, but we know how that will end. You will win several bets and lose all the rest to the bookie.
That brings us to today’s questions, what is a bookie, and how can you operate one? A bookie takes bets from clients and manages a betting platform.
The bookie can run their business offline using paper and pen. Some use innovative tools such as Excel or similar software to record bets and financial data. However, the most successful bookies use a pay-per-head service to run their betting business.
What Is A Pay Per Head?
When it comes to learning what a bookie is, there is no way of escaping another question, what is a pay-per-head? This service allows bookies to take their businesses online on a third-party platform. Instead of designing their online sportsbooks, casinos, or racebooks, they approach a site that already has software and use it to offer their betting services.
For example, you can work with Power Pay Per Head, a site with top-rated sportsbook software to offer betting services to your family and friends. As the name suggests, you pay for the services per player basis. This means that you only pay for the services offered to you if players are betting on your platform.
Pay Per Head Bookie
An aspiring bookie operator approaches a pay-per-head site. They discuss the needs of a bookie leading to the site creating a custom bookie platform for the operator.
A bookie gets all control over their betting platform in a matter of hours. While you are not the person who developed the betting platform, you can quickly get familiar with it and use it easily.
The bookie software comes with many bookmaking features, tools, and services. Besides the betting platform, there is an administration dashboard on which operators can perform various bookmaking duties.
You can create odds, limit a player account, track bets, and do other managerial tasks to balance your business.
The pay-per-head software also generates real-time data. You will get notified immediately if a player places a bet or any other instance. This helps you be ahead of everything to make the right decisions at the right time.
A Call Center For Your Players
As a bookie, you are destined to receive many calls, mostly complaints. Some players might call to complain that you are delaying their payouts, they had a problem withdrawing or depositing, their accounts disappearing, or any other issue.
If you were to take these calls, you would never sleep. You would always be on the phone. If you switch your phone off for a moment, they will spread rumors you are unreliable or, worse, suggest you are a con.
To avoid all this fuss, pay-per-head service providers offer a call center as part of the services. This 24/7 service is available to your players throughout the day and night, 365 days.
You might also need help with one of the management tools on your platform. Whether you are experiencing some trouble at night or day, you can call customer support to help you solve your issue.
How Much Does It Cost For The Pay Per Head Service?
Another thing you need to cover while still learning what a bookie is is the fee you spend on PPH services. The fee you pay for the pay per head depends on the site you are using. But, it ranges between $1 and $25 per player for most sites.
The fee you pay does not define the quality of service. For example, you can deal with a site asking you to pay $3 per player but has good services per your standards. If that is the maximum you can afford, then that is right by you.
However, another company can offer the service at $10 and give you the tools to ensure you get the money and some profit to save. The point is, whichever site you choose, ensure it is offering you a valuable service.
The good thing is, you only pay for the service when a player uses your platform. For example, if you have 50 players and only 30 placed bets this week, you will pay the fee for those 30 players.
Suppose you have to pay $10 for each player each week. With the above example, you will pay 30*10 = $300.
How To Run A Bookie Business
Your lesson on what a bookie is would be incomplete if you did not learn how to run one. This lesson will separate you from other bookies, giving you a better competitive edge.
The first thing you need to know about running a bookie is understanding everything about the field. If you love sports, you are a step closer to becoming the best bookie around. However, you need to understand everything about sports, wagering, creating odds, how you earn, and other similar information.
That way, you can run your bookie efficiently. You can adjust odds accordingly and balance betting on the platform. Lack of this information means you will always lose money.
That is not a good thing because you entered this betting industry to get a share of the billions of dollars circulating there.
Another thing you need to learn is how to attract clients and retain them. By offering the right product and personalized service, you can attract new players and keep them, something prominent sportsbooks cannot do.
Moreover, you need clients to run your business. The last thing involves getting funds. While you do not need much to launch a pay-per-head bookie, you might need to borrow a friend, family or use part of your savings.
Become A Bookie today
Now that you know what a bookie is and how to run it, you are ready to become one. You will need some funds, knowledge about the industry, and a pay-per-head service provider.
Luckily, your PPH service is closer than you think. With just one click, you will land on the Power Pay Per Head site, a leading PPH service provider and your ideal partner. Contact the site’s operators today to launch your bookie.